Ozone-eco Ltd - Accounts

Ozone-eco Ltd - Accounts

OZONE-ECO LTD - Company Information

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Registered Number: 07307488
England and Wales

 

 

 

OZONE-ECO LTD


Abridged Accounts
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023

Ozone-eco Ltd
Contents Page
For the year ended 30 September 2023
Report to the directors on the preparation of the unaudited statutory accounts of Ozone-eco Ltd for the year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ozone-eco Ltd for the year ended 30 September 2023 which comprise of the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Ozone-eco Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ozone-eco Ltd and state those matters that we have agreed to state to the Board of Directors of Ozone-eco Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ozone-eco Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Ozone-eco Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ozone-eco Ltd. You consider that Ozone-eco Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Ozone-eco Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
30 September 2023



....................................................
Kirkpatrick and Hopes Limited
Merlin House
Brunel Road
Theale, Reading
Berkshire
RG7 4AB
13 December 2023
1
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 8,165    11,465 
8,165    11,465 
Current assets      
Debtors 23,000    860 
Cash at bank and in hand 27,152    40,296 
50,152    41,156 
Creditors: amount falling due within one year (38,607)   (31,069)
Net current assets 11,545    10,087 
 
Total assets less current liabilities 19,710    21,552 
Creditors: amount falling due after more than one year (20,406)   (23,717)
Provisions for liabilities (2,041)   (2,178)
Net liabilities (2,737)   (4,343)
 

Capital and reserves 		     
Called up share capital 50    50 
Profit and loss account (2,787)   (4,393)
Shareholder's funds (2,737)   (4,343)
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 13 December 2023 and were signed on its behalf by:


-------------------------------
Mrs H Howes
Director
2
General Information
Ozone-eco Ltd is a private company, limited by shares, registered in England and Wales, registration number 07307488, registration address Mortimer House, 49 Church Street Theale, Reading, Berkshire, RG7 5BX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
Going concern
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.
Turnover
Turnover represents net invoiced sales,  excluding value added tax. Income in recognised when the company obtains the right to consideration.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 taxation
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 and 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.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery - 20% on straight line method
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 in 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.
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 at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
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 subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 October 2022 16,498    16,498 
Additions -    - 
Disposals -    - 
At 30 September 2023 16,498    16,498 
Depreciation
At 01 October 2022 5,033    5,033 
Charge for year 3,300    3,300 
On disposals -    - 
At 30 September 2023 8,333    8,333 
Net book values
Closing balance as at 30 September 2023 8,165    8,165 
Opening balance as at 01 October 2022 11,465    11,465 


4.

Director’s loan

DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet, the following balance existed on loan accounts with the directors:

Mrs H Howes  - £356 in credit (2022: £216 in credit)
Ms H R Vincent  - £1,208 in credit (2022: £1,115 in credit)


The loans are interest free and there is  no fixed date for repayment. 

5.

Debtors: amounts falling within one year

.   2023
£		   2022
£
Accrued Income 23,000  - 
Other debtors -  860 
23,000  860 

6.

Creditors: amount falling due within one year

.   2023
£		   2022
£
Bank loans & overdrafts 3,310  3,229 
Corporation Tax 22,310  15,275 
PAYE & Social Security 5  - 
Accrued expenses 304  - 
Other Creditors 10,318  8,639 
Directors' Current Accounts 1,564  1,330 
VAT 796  2,596 
38,607  31,069 

7.

Creditors:: amount falling due after more than one year

.   2023
£		   2022
£
Bank loans & overdrafts 20,406  23,717 
20,406  23,717 

8.

Provisions for liabilities

.   2023
£		   2022
£
Deferred Tax 2,041  2,178 
2,041  2,178 

3