OGPM Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08343905 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 DECEMBER 2021

FOR

OGPM LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A J Bushe

REGISTERED OFFICE:

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

REGISTERED NUMBER:

08343905 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Tangible assets

5

3,142

2,693

Investments

6

4,000

4,000

7,142

6,693

CURRENT ASSETS

Stocks

380,227

223,000

Debtors

7

562,314

315,956

Cash at bank and in hand

59,420

13,770

1,001,961

552,726

CREDITORS

Amounts falling due within one year

8

(785,234

)

(486,106

)

NET CURRENT ASSETS

216,727

66,620

TOTAL ASSETS LESS CURRENT LIABILITIES

223,869

73,313

CREDITORS

Amounts falling due after more than one year

9

(213,982

)

(63,914

)

PROVISIONS FOR LIABILITIES

(597

)

(413

)

NET ASSETS

9,290

8,986

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

9,289

8,985

SHAREHOLDERS' FUNDS

9,290

8,986

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 February 2023 and were signed by:

A J Bushe - Director

1.	STATUTORY INFORMATION

OGPM 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of supply chain management services to the oil, mining and water sector, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

33% on reducing balance and 25% on reducing balance

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in the profit and loss account when the proceeds are received or receivable. A grant received before the recognition criteria is met is recognised as a liability.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 material 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 30 December 2020

16,950

Additions

1,165

At 29 December 2021

18,115

DEPRECIATION

At 30 December 2020

14,257

Charge for year

716

At 29 December 2021

14,973

NET BOOK VALUE

At 29 December 2021

3,142

At 29 December 2020

2,693

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 30 December 2020

and 29 December 2021

4,000

NET BOOK VALUE

At 29 December 2021

4,000

At 29 December 2020

4,000

7.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

430,142

256,492

Other debtors

107,072

34,364

537,214

290,856

Amounts falling due after more than one year:

Other debtors

25,100

25,100

Aggregate amounts

562,314

315,956

Included in debtors in more than one year is £25,100 that represents funds held by Barclays Bank PLC as a performance guarantee.This guarantee is valid until 16th March 2024.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

63,228

36,757

Trade creditors

258,987

125,527

Taxation and social security

57,194

40,587

Other creditors

405,825

283,235

785,234

486,106

Included within other creditors is a balance of £312,083 (2020 £144,139): due under a invoice factoring arrangement.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

213,982

63,914

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1,000

Ordinary 0.001p

0.1p

1

1

11.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had a rolling annual financial commitment amounting to £4,260 relating to the rental of commercial premises from which the company trades and an annual commitment of £4,776 relating to vehicle rental over three years.

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 December 2021 and 29 December 2020:

2021

2020

£

£

A J Bushe

Balance outstanding at start of year

-

1,125

Amounts advanced

34,374

-

Amounts repaid

-

(1,125

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

34,374

-

13.	RELATED PARTY DISCLOSURES

The director charged the company rent of nil (2020: £1,905) for the use of his personal residence.

At the balance sheet date the balance due to the company on a directors loan account amounted to £34,374 (2020: £576). This balance included interest of £424 and is repayable on demand and is disclosed within other debtors.