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

REGISTERED NUMBER: 05998453 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2022

for

Ozone Interiors Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

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

Merlin House

Brunel Road

Theale

Reading

Berkshire

RG7 4AB

FIXED ASSETS

Tangible assets

5

12,022

14,855

CURRENT ASSETS

Debtors

6

398,573

121,865

Cash at bank

327,845

318,588

726,418

440,453

CREDITORS

Amounts falling due within one year

7

505,716

275,332

NET CURRENT ASSETS

220,702

165,121

TOTAL ASSETS LESS CURRENT LIABILITIES

232,724

179,976

CREDITORS

Amounts falling due after more than one year

8

(38,536

)

(44,436

)

PROVISIONS FOR LIABILITIES

(2,284

)

(2,823

)

NET ASSETS

191,904

132,717

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

191,902

132,715

SHAREHOLDERS' FUNDS

191,904

132,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 23 January 2023 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 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 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 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.

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 year was 2 (2021 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2021

9,020

7,799

18,690

11,026

46,535

Additions

-

-

-

2,373

2,373

At 30 September 2022

9,020

7,799

18,690

13,399

48,908

DEPRECIATION

At 1 October 2021

1,804

7,799

13,516

8,561

31,680

Charge for year

1,804

-

1,293

2,109

5,206

At 30 September 2022

3,608

7,799

14,809

10,670

36,886

NET BOOK VALUE

At 30 September 2022

5,412

-

3,881

2,729

12,022

At 30 September 2021

7,216

-

5,174

2,465

14,855

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Trade debtors

335,601

7,958

Amounts recoverable on contract

53,734

107,301

Other debtors

9,238

6,606

398,573

121,865

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Bank loans and overdrafts

5,176

5,048

Hire purchase contracts

724

4,183

Trade creditors

288,603

124,557

Tax

32,625

27,135

Social security and other taxes

170,908

108,459

Other creditors

1,803

1,272

Directors' loan accounts

4,937

3,838

Accruals and deferred income

940

840

505,716

275,332

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.22

30.9.21

£

£

Bank loans - 1-2 years

5,307

5,176

Bank loans - 2-5 years

16,740

16,327

Bank loans more 5 yr by instal

16,489

22,209

Hire purchase contracts

-

724

38,536

44,436

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

16,489

22,209

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.22

30.9.21

£

£

Hire purchase contracts

724

4,907

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES