Occupational Management Consultants Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07364856 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2020

for

Occupational Management Consultants Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

147,000

168,000

Tangible assets

5

18,047

11,490

165,047

179,490

CURRENT ASSETS

Stocks

15,000

7,366

Debtors

6

50,602

62,565

Cash at bank

80,085

148

145,687

70,079

CREDITORS

Amounts falling due within one year

7

(121,172

)

(105,613

)

NET CURRENT ASSETS/(LIABILITIES)

24,515

(35,534

)

TOTAL ASSETS LESS CURRENT LIABILITIES

189,562

143,956

CREDITORS

Amounts falling due after more than one year

8

(50,000

)

(11,865

)

PROVISIONS FOR LIABILITIES

(3,429

)

(2,183

)

NET ASSETS

136,133

129,908

CAPITAL AND RESERVES

Called up share capital

50

50

Capital redemption reserve

50

50

Retained earnings

136,033

129,808

SHAREHOLDERS' FUNDS

136,133

129,908

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 24 March 2021 and were signed on its behalf by:

Mr P McGregor-Cheers - Director

1.	STATUTORY INFORMATION

Occupational Management Consultants Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

07364856

Registered office:

Westminster House

10 Westminster Road

Macclesfield

Cheshire

SK10 1BX

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.

Turnover

Turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of fifteen 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.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Stocks

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

Taxation

Taxation for the year 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 year 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 year was 6 (2019 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2019

and 30 September 2020

315,000

AMORTISATION

At 1 October 2019

147,000

Charge for year

21,000

At 30 September 2020

168,000

NET BOOK VALUE

At 30 September 2020

147,000

At 30 September 2019

168,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 October 2019

8,975

2,525

13,250

24,750

Additions

-

2,371

11,897

14,268

At 30 September 2020

8,975

4,896

25,147

39,018

DEPRECIATION

At 1 October 2019

6,096

2,076

5,088

13,260

Charge for year

720

705

6,286

7,711

At 30 September 2020

6,816

2,781

11,374

20,971

NET BOOK VALUE

At 30 September 2020

2,159

2,115

13,773

18,047

At 30 September 2019

2,879

449

8,162

11,490

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

Motor

vehicles

£

COST

At 1 October 2019

and 30 September 2020

9,700

DEPRECIATION

At 1 October 2019

2,425

Charge for year

2,425

At 30 September 2020

4,850

NET BOOK VALUE

At 30 September 2020

4,850

At 30 September 2019

7,275

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade debtors

50,368

58,863

Other debtors

234

3,702

50,602

62,565

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans and overdrafts

7,568

12,160

Hire purchase contracts

3,532

4,566

Trade creditors

-

4,412

Taxation and social security

54,500

24,560

Other creditors

55,572

59,915

121,172

105,613

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.20

30.9.19

£

£

Hire purchase contracts

-

3,532

Other creditors

50,000

8,333

50,000

11,865