| OM26 LIMITED |
| Notes to the Accounts |
| for the year ended 30 November 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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|
Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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|
Plant and machinery |
10% Reducing balance |
|
Fixtures, fittings, tools and equipment |
10% Reducing balance |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
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| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 December 2024 |
120,000 |
|
At 30 November 2025 |
120,000 |
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|
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Amortisation |
|
At 30 November 2025 |
- |
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Net book value |
|
At 30 November 2025 |
120,000 |
|
At 30 November 2024 |
120,000 |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
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| 4 |
Tangible fixed assets |
|
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|
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Plant and machinery etc |
| £ |
|
Cost |
|
At 1 December 2024 |
52,456 |
|
At 30 November 2025 |
52,456 |
|
|
|
|
|
|
|
|
|
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Depreciation |
|
At 1 December 2024 |
36,174 |
|
Charge for the year |
1,628 |
|
At 30 November 2025 |
37,802 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2025 |
14,654 |
|
At 30 November 2024 |
16,282 |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Other debtors |
10,000 |
|
10,000 |
|
|
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| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
1,116 |
|
212 |
|
Corporation tax |
2,118 |
|
2,722 |
|
Other taxes and social security costs |
1,585 |
|
696 |
|
Other creditors |
226,722 |
|
228,257 |
|
|
|
|
|
|
231,541 |
|
231,887 |
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| 7 |
Other information |
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OM26 LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
59 Waverley Crescent |
|
London |
|
England |
|
SE18 7QU |