O L MASTERS LTD - Accounts

O L MASTERS LTD - Accounts

O L MASTERS LTD - Company Information

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Registered Number: 12006195
England and Wales

 

 

 


Report of the Director and Unaudited Financial Statements

for the year ended 19 May 2023

for

O L MASTERS LTD

O L MASTERS LTD
Statement of financial position
As at 19 May 2023
 
 		  
£		 2023
£		    
£		 2022
£
Fixed assets 9,907  12,245 
Current assets 260  411 
Creditors: amount falling due within one year (482) (503)
Net current assets (222) (92)
Total assets less current liabilities 9,685  12,153 
Net assets 9,685  12,153 
 
Capital and reserves 9,685  12,153 
 
  1. For the year ended 19 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
  2. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies act 2006.
  3. 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
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the board of directors:


----------------------------------
Oliver Lawrence Masters
Director

Date approved: 12 February 2024
1

O L MASTERS LTD
Notes to the accounts
For the year ended 19 May 2023

Statutory Information
O L MASTERS LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 12006195, registration address Edgarley Farm, Edgarley, Glastonbury, BA6 8LE, United Kingdom.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Office Equipment33.58 Reducing Balance
2.

Tangible fixed assets

Cost or Valuation Plant and machinery   Office Equipment   Total
  £   £   £
At 20 May 2022 13,808    1,508    15,316 
Additions -    -    - 
Disposals -    -    - 
At 19 May 2023 13,808    1,508    15,316 
Depreciation
At 20 May 2022 2,565    506    3,071 
Charge for year 1,892    446    2,338 
On disposals -    -    - 
At 19 May 2023 4,457    952    5,409 
Net book values
Closing balance as at 19 May 2023 9,351    556    9,907 
Opening balance as at 20 May 2022 11,243    1,002    12,245 

3.

Average number of employees

Average number of employees during the year was 1  (2022: 1).
2