Omurca Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05743686 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Omurca Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Omurca

Mrs S Omurca

REGISTERED OFFICE:

14 High Street

East Grinstead

West Sussex

RH19 3AW

REGISTERED NUMBER:

05743686 (England and Wales)

FIXED ASSETS

Tangible assets

4

21,938

32,738

CURRENT ASSETS

Stocks

-

147,812

Debtors

5

32,055

29,797

32,055

177,609

CREDITORS

Amounts falling due within one year

6

366,393

325,767

NET CURRENT LIABILITIES

(334,338

)

(148,158

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(312,400

)

(115,420

)

CREDITORS

Amounts falling due after more than one year

7

19,345

37,030

NET LIABILITIES

(331,745

)

(152,450

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(331,747

)

(152,452

)

SHAREHOLDERS' FUNDS

(331,745

)

(152,450

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 May 2021 and were signed on its behalf by:

P Omurca - Director

1.	STATUTORY INFORMATION

Omurca 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

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 balance sheet date.

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

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern basis

The directors are confident that the company will maintain its current level of profitability and have undertaken to financially support the company for the next twelve months.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

75,197

Additions

171

At 31 March 2020

75,368

DEPRECIATION

At 1 April 2019

42,459

Charge for year

10,971

At 31 March 2020

53,430

NET BOOK VALUE

At 31 March 2020

21,938

At 31 March 2019

32,738

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

58,530

DEPRECIATION

At 1 April 2019

27,338

Charge for year

10,398

At 31 March 2020

37,736

NET BOOK VALUE

At 31 March 2020

20,794

At 31 March 2019

31,192

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

2,888

8,218

Other debtors

29,167

21,579

32,055

29,797

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

40,782

41,793

Hire purchase contracts

11,034

4,046

Trade creditors

104,122

217,568

Taxation and social security

63,988

19,920

Other creditors

146,467

42,440

366,393

325,767

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

19,345

37,030

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr U Omurca and Mrs S Omurca.