Owen Industrial Filtration Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03531544

OWEN INDUSTRIAL FILTRATION LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

OWEN INDUSTRIAL FILTRATION LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		3,372		4,097

CURRENT ASSETS

Stocks		73,243	67,945
Debtors	6	79,753	59,050
		---------	---------
		152,996	126,995

CREDITORS: amounts falling due within one year	7	105,427		83,751
		---------		---------
NET CURRENT ASSETS			47,569		43,244
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			50,941		47,341

PROVISIONS

Taxation including deferred tax	835	1,014
	--------	--------
NET ASSETS	50,106	46,327
	--------	--------

CAPITAL AND RESERVES

Called up share capital	8	10	10
Profit and loss account		50,096	46,317
		--------	--------
SHAREHOLDERS FUNDS		50,106	46,327
		--------	--------

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 income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 .

OWEN INDUSTRIAL FILTRATION LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 9 December 2025 , and are signed on behalf of the board by:

D OWEN Director

Company registration number: 03531544

OWEN INDUSTRIAL FILTRATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Strongford House, 354 Barlaston Old Road, Barlaston, Stoke on Trent, ST12 9EW.

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. ACCOUNTING POLICIES

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. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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.

Fixed assets

All fixed assets are initially recorded at cost.

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:

Computer equipment	-	25% reducing balance
Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 .

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. TANGIBLE ASSETS

	Computer equipment	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	9,517	2,366	8,653	20,536
	-------	-------	-------	--------
Depreciation
At 1 April 2024	8,461	2,325	5,653	16,439
Charge for the year	263	10	452	725
	-------	-------	-------	--------
At 31 March 2025	8,724	2,335	6,105	17,164
	-------	-------	-------	--------
Carrying amount
At 31 March 2025	793	31	2,548	3,372
	-------	-------	-------	--------
At 31 March 2024	1,056	41	3,000	4,097
	-------	-------	-------	--------

6. DEBTORS

	2025	2024
	£	£
Trade debtors	71,115	50,412
Other debtors	8,638	8,638
	--------	--------
	79,753	59,050
	--------	--------

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	16,180	12,937
Trade creditors	49,904	43,402
Corporation tax	10,822	13,050
Social security and other taxes	3,196	689
Other creditors	25,325	13,673
	---------	--------
	105,427	83,751
	---------	--------

8. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	10	10	10	10
	----	----	----	----

9. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had future commitments under operating leases totalling £4,266 (2024:£7,923).

10. EVENTS AFTER THE END OF THE REPORTING PERIOD

Since the year end the company has become subject to a VAT enquiry from HMRC. Although they are unable to quantify the effect of this the directors are of the view that it could lead to a significant liability, although nothing has been provided in these accounts. They do not believe that it will affect the ability of the company to continue as a going concern.