Ozone Industries Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02973246

Ozone Industries Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

Ozone Industries Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	4	385,506	325,382
Tangible assets	5	47,768	47,235
		---------	---------
		433,274	372,617

Current assets

Stocks		128,023	130,936
Debtors	6	64,956	106,176
Cash at bank and in hand		42,282	39,915
		---------	---------
		235,261	277,027

Creditors: amounts falling due within one year	7	46,544	92,101
		---------	---------
Net current assets		188,717	184,926
		---------	---------
Total assets less current liabilities		621,991	557,543

Creditors: amounts falling due after more than one year	8	39,477	45,818
		---------	---------
Net assets		582,514	511,725
		---------	---------

Capital and reserves

Called up share capital	525,737	525,737
Share premium account	4,624,543	4,624,543
Capital redemption reserve	2,380	2,380
Profit and loss account	( 4,570,146)	( 4,640,935)
	------------	------------
Shareholders funds	582,514	511,725
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ozone Industries Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 1 July 2025 , and are signed on behalf of the board by:

Mr M J Prince Director

Company registration number: 02973246

Ozone Industries Limited

Accounting Policies

Year ended 31 December 2024

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Full advantage has been taken of the disclosure exemptions available under the amended FRS102.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Development costs	-	Evenly over 18 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20-33% per annum on a straight line basis
Equipment	-	20-33% per annum on a straight line basis

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Ozone Industries Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3 Regents Court, South Way, Andover, Hampshire, SP105NX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).

4. Intangible assets

	Development costs
	£
Cost
At 1 January 2024	440,996
Additions	–
Additions from internal developments	89,606
	---------
At 31 December 2024	530,602
	---------
Amortisation
At 1 January 2024	115,614
Charge for the year	29,482
	---------
At 31 December 2024	145,096
	---------
Carrying amount
At 31 December 2024	385,506
	---------
At 31 December 2023	325,382
	---------

5. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 January 2024	170,191	21,948	192,139
Additions	848	–	848
	---------	--------	---------
At 31 December 2024	171,039	21,948	192,987
	---------	--------	---------
Depreciation
At 1 January 2024	122,956	21,948	144,904
Charge for the year	315	–	315
	---------	--------	---------
At 31 December 2024	123,271	21,948	145,219
	---------	--------	---------
Carrying amount
At 31 December 2024	47,768	–	47,768
	---------	--------	---------
At 31 December 2023	47,235	–	47,235
	---------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	57,294	72,508
Other debtors	7,662	33,668
	--------	---------
	64,956	106,176
	--------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	16,003	20,148
Trade creditors	7,313	13,703
Social security and other taxes	14,219	23,371
Other creditors	9,009	34,879
	--------	--------
	46,544	92,101
	--------	--------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	2,646	18,649
Other creditors	36,831	27,169
	--------	--------
	39,477	45,818
	--------	--------

9. Director's advances, credits and guarantees

The directors loan account is not disclosed as permitted under FRS 102 1A.