OCNR (Emea) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07398383 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 29 SEPTEMBER 2019 TO 31 MARCH 2020

FOR

OCNR (EMEA) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R G Dwyer

Mr S M Flynn

Mr J Howlett

Mr R S Thakrar

Mr M J Thomas

REGISTERED OFFICE:

E3 The Premier Centre

Abbey Park

Romsey

Hampshire

SO51 9DG

REGISTERED NUMBER:

07398383 (England and Wales)

ACCOUNTANTS:

TBW Accountancy Limited

E3 The Premier Centre

Abbey Park

Romsey

Hampshire

SO51 9DG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,315

16,629

Investments

6

4,563

4,468

12,878

21,097

CURRENT ASSETS

Debtors

7

4,513,421

4,292,215

Cash at bank

309,070

364,753

4,822,491

4,656,968

CREDITORS

Amounts falling due within one year

8

4,255,037

4,240,178

NET CURRENT ASSETS

567,454

416,790

TOTAL ASSETS LESS CURRENT LIABILITIES

580,332

437,887

PROVISIONS FOR LIABILITIES

11

5,742

5,742

NET ASSETS

574,590

432,145

CAPITAL AND RESERVES

Called up share capital

12

130

130

Retained earnings

13

574,460

432,015

SHAREHOLDERS' FUNDS

574,590

432,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2020 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 and authorised for issue on 25 March 2021 and were signed on its behalf by:

Mr R S Thakrar - Director

1.	STATUTORY INFORMATION

OCNR (Emea) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about OCNR (Emea) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software was being amortised evenly over its estimated useful life of ten years. However, during the current period, the directors considered the value this software is now negligible and have therefore fully amortised the asset.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Length of lease

Plant and machinery

-

Length of lease

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 balance sheet date.

Deferred tax

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 26 (2019 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 29 September 2019

and 31 March 2020

36,354

AMORTISATION

At 29 September 2019

and 31 March 2020

36,354

NET BOOK VALUE

At 31 March 2020

-

At 28 September 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 29 September 2019

and 31 March 2020

64,426

25,118

24,671

16,902

131,117

DEPRECIATION

At 29 September 2019

64,426

25,118

14,803

10,141

114,488

Charge for period

-

-

4,934

3,380

8,314

At 31 March 2020

64,426

25,118

19,737

13,521

122,802

NET BOOK VALUE

At 31 March 2020

-

-

4,934

3,381

8,315

At 28 September 2019

-

-

9,868

6,761

16,629

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 29 September 2019

4,468

Additions

95

At 31 March 2020

4,563

NET BOOK VALUE

At 31 March 2020

4,563

At 28 September 2019

4,468

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

4,067,296

3,943,714

Amounts owed by group undertakings

141,850

106,085

Amounts owed by associates

191,967

148,205

Other debtors

19,426

1,632

Directors' current accounts

17,362

69,713

Tax

56,466

-

Prepayments

19,054

22,866

4,513,421

4,292,215

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other loans (see note 9)

5,953

-

Hire purchase contracts

-

1,520

Trade creditors

3,598,567

3,629,023

Tax

399,599

294,928

VAT

136,016

172,204

Other creditors

92,902

87,340

Accrued expenses

22,000

55,163

4,255,037

4,240,178

9.

LOANS

An analysis of the maturity of loans is given below:

2020

2019

£

£

Amounts falling due within one year or on demand:

Other loans

5,953

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Other loans

5,953

-

Liabilities arising under other loans are secured by way of a debenture over the trade debtors of the company.

11.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

5,742

5,742

Deferred

tax

£

Balance at 29 September 2019

5,742

Balance at 31 March 2020

5,742

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

130

Ordinary

£1

130

130

13.

RESERVES

Retained

earnings

£

At 29 September 2019

432,015

Profit for the period

542,917

Dividends

(400,472

)

At 31 March 2020

574,460

14.	OTHER FINANCIAL COMMITMENTS

The company occupies an office premises in Horsham under operating leases. The lease expires on 27 February 2032, with a rent commitment of £17,750 per annum.

15.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors loan account outstanding at the period end were as follows:

R G Dwyer £7,362 (2019: £50,146)

M Thomas £10,000 (2019:£19,567)

These amounts are advanced free of interest and are repayable on demand.

16.	RELATED PARTY DISCLOSURES

During the period the company received dividends of £37,212 (2019: £nil) from its 65% subsidiary, Talenterprize Limited. The company has recharged office and administrative cost of £11,513 (2019: £28,489 to Talenterprize Limited

17.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.