Oomph Ventures Limited - Accounts to registrar (filleted) - small 22.3
Oomph Ventures Limited - Accounts to registrar (filleted) - small 22.3
REGISTERED NUMBER: |
Unaudited Financial Statements For The Year Ended 31 October 2022 |
for |
Oomph Ventures Limited |
Oomph Ventures Limited (Registered number: 12440384) |
Contents of the Financial Statements |
For The Year Ended 31 October 2022 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Oomph Ventures Limited |
Company Information |
For The Year Ended 31 October 2022 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Chartered Certified Accountants |
Suite 4 |
Ironstone House |
Ironstone Way |
Brixworth |
Northamptonshire |
NN6 9UD |
Oomph Ventures Limited (Registered number: 12440384) |
Balance Sheet |
31 October 2022 |
31.10.22 | 31.10.21 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
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. |
Oomph Ventures Limited (Registered number: 12440384) |
Balance Sheet - continued |
31 October 2022 |
In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Oomph Ventures Limited (Registered number: 12440384) |
Notes to the Financial Statements |
For The Year Ended 31 October 2022 |
1. | Statutory information |
Oomph Ventures Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Going Concern |
The company is a start up business and has yet to start commercial production and generate sales revenues. As such it is reliant upon external funding. In the year to 31 October 2022 the company raised a further £550,421 in share capital, and discussions are ongoing with existing investors and others to provide further investment during the forthcoming year to 31 October 2023. The directors are confident that further funding will be secured with the next 3 months. It is also expected that sales will commence, and that the company will be profitable by the second half of the financial year to 31 October 2023. Accordingly the directors consider that the adoption of the going concern concept is appropriate. |
Trademarks |
Trademarks are amortised over their expected useful life. |
The directors carry out an impairment valuation annually. |
Tangible fixed assets |
Plant and machinery etc | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Oomph Ventures Limited (Registered number: 12440384) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2022 |
2. | Accounting policies - continued |
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 |
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 |
4. | Intangible fixed assets |
Other |
intangible |
assets |
£ |
Cost |
At 1 November 2021 |
and 31 October 2022 |
Amortisation |
At 1 November 2021 |
Charge for year |
At 31 October 2022 |
Net book value |
At 31 October 2022 |
At 31 October 2021 |
Oomph Ventures Limited (Registered number: 12440384) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2022 |
5. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 November 2021 |
Additions |
At 31 October 2022 |
Depreciation |
At 1 November 2021 |
Charge for year |
At 31 October 2022 |
Net book value |
At 31 October 2022 |
At 31 October 2021 |
6. | Debtors: amounts falling due within one year |
31.10.22 | 31.10.21 |
£ | £ |
Other debtors |
7. | Creditors: amounts falling due within one year |
31.10.22 | 31.10.21 |
£ | £ |
Trade creditors |
Taxation and social security | ( |
) |
Other creditors |
( |
) |