Ozone Interiors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05998453 (England and Wales)

Unaudited Financial Statements

for the Period

1 April 2018 to 30 September 2019

for

Ozone Interiors Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

C P Howes

B L Vincent

REGISTERED OFFICE:

Mortimer House

49 Church Street

Theale

Reading

Berkshire

REGISTERED NUMBER:

05998453 (England and Wales)

ACCOUNTANTS:

Kirkpatrick & Hopes Ltd

Overdene House

49 Church Street

Theale

Reading

Berkshire

RG7 5BX

FIXED ASSETS

Tangible assets

5

12,571

15,026

CURRENT ASSETS

Debtors

6

453,934

46,350

Cash at bank

58,771

76,814

512,705

123,164

CREDITORS

Amounts falling due within one year

7

473,619

99,815

NET CURRENT ASSETS

39,086

23,349

TOTAL ASSETS LESS CURRENT LIABILITIES

51,657

38,375

CREDITORS

Amounts falling due after more than one year

8

(8,816

)

(14,162

)

PROVISIONS FOR LIABILITIES

(2,389

)

(2,855

)

NET ASSETS

40,452

21,358

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

40,450

21,356

SHAREHOLDERS' FUNDS

40,452

21,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 17 March 2020 and were signed on its behalf by:

C P Howes - Director

B L Vincent - Director

1.	STATUTORY INFORMATION

Ozone Interiors Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention and complies with FRS 102

Section 1A small entities.

The presentation currency is sterling (£).

Turnover

Turnover represents net sales of services, excluding value added tax. Income is recognised when the company

obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the

carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised

estimate of its recoverable amount, but not any excess of the amount that would have been determined had no

impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised

immediately in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Debtors

Short Term debtors are measured at transaction price less any impairment. Loans receivable are measured

initially at fair value, net of transactions costs, and are measured subsequently at amortised costs using the

effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised costs

using the effective interest method.

Going concern justification

The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is

appropriate because there are no material uncertainties related to events or conditions that may cast significant

doubt about the ability of the company to continue as a going concern.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2018 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

347

7,799

18,690

12,203

39,039

Additions

-

-

-

6,009

6,009

At 30 September 2019

347

7,799

18,690

18,212

45,048

DEPRECIATION

At 1 April 2018

346

7,458

4,673

11,536

24,013

Charge for period

1

174

4,818

3,471

8,464

At 30 September 2019

347

7,632

9,491

15,007

32,477

NET BOOK VALUE

At 30 September 2019

-

167

9,199

3,205

12,571

At 31 March 2018

1

341

14,017

667

15,026

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2018

and 30 September 2019

18,690

DEPRECIATION

At 1 April 2018

4,673

Charge for period

4,818

At 30 September 2019

9,491

NET BOOK VALUE

At 30 September 2019

9,199

At 31 March 2018

14,017

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

31.3.18

£

£

Trade debtors

53,246

15,273

Amounts recoverable on contract

393,552

29,324

Other debtors

2,850

600

Directors' loan accounts

-

28

Tax

3,741

-

Prepayments and accrued income

545

1,125

453,934

46,350

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

31.3.18

£

£

Hire purchase contracts

3,633

3,021

Trade creditors

395,908

55,608

Tax

38,248

27,649

Social security and other taxes

8,319

11,341

Other creditors

3,390

1,173

Directors' loan accounts

2,777

-

Accruals and deferred income

21,344

1,023

473,619

99,815

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

31.3.18

£

£

Hire purchase contracts

8,816

14,162

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.19

31.3.18

£

£

Hire purchase contracts

12,449

-

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 September 2019 and the

year ended 31 March 2018:

30.9.19

31.3.18

£

£

C P Howes

Balance outstanding at start of period

14

14

Amounts repaid

(846

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(832

)

14

B L Vincent

Balance outstanding at start of period

14

14

Amounts repaid

(1,958

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(1,944

)

14

11.	RELATED PARTY DISCLOSURES