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REGISTERED NUMBER: 08837435 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

OSSIE BARBERS LTD

OSSIE BARBERS LTD (REGISTERED NUMBER: 08837435)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OSSIE BARBERS LTD

Company Information
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr Ozkay Mehmet
Mrs Yuksel Hanife Mehmet





REGISTERED OFFICE: 293 Green Lanes
Palmers Green
London
N13 4XS





REGISTERED NUMBER: 08837435 (England and Wales)





ACCOUNTANTS: ADPL LLP
293 Green Lanes
London
N13 4XS

OSSIE BARBERS LTD (REGISTERED NUMBER: 08837435)

Balance Sheet
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,598 3,463

CURRENT ASSETS
Stocks - 785
Debtors 5 20,000 36,758
Cash at bank and in hand 21,823 42,169
41,823 79,712
CREDITORS
Amounts falling due within one year 6 43,223 87,392
NET CURRENT LIABILITIES (1,400 ) (7,680 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,198

(4,217

)

PROVISIONS FOR LIABILITIES 493 877
NET ASSETS/(LIABILITIES) 705 (5,094 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 605 (5,194 )
SHAREHOLDERS' FUNDS 705 (5,094 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

OSSIE BARBERS LTD (REGISTERED NUMBER: 08837435)

Balance Sheet - continued
31 JANUARY 2023


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 16 October 2023 and were signed on its behalf by:





Mr Ozkay Mehmet - Director


OSSIE BARBERS LTD (REGISTERED NUMBER: 08837435)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Ossie Barbers 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.

In carrying out this assessment, the directors have considered the impact of the Covid-19 pandemic on the trade and finances of the company and wider group and they have taken steps to protect liquidity.

The directors are therefore satisfied that there is no significant risk to the ability of the company to continue as a going concern for at least 12 months from the date of approval of these financial statements.

Turnover
Turnover represents net invoiced sales of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Government grants
Government grant received during the year has been accounted according to the policy per FRS 102.

The performance model required that:

(a) A grant that does not impose specified future performance-related conditions on the recipient is recognised in income when the grant proceeds are received or receivable.

(b) A grant that imposes specified future performance-related conditions on the recipient is recognised in income only when the performance-related conditions are met.

The accrual method requires that:

(a) An entity classifies a grant either as a grant relating to revenue or a grant relating to assets.

(b) Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate (Note: A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.)

(c) Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

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

OSSIE BARBERS LTD (REGISTERED NUMBER: 08837435)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 10,117 608 10,725
DEPRECIATION
At 1 February 2022 6,911 351 7,262
Charge for year 801 64 865
At 31 January 2023 7,712 415 8,127
NET BOOK VALUE
At 31 January 2023 2,405 193 2,598
At 31 January 2022 3,206 257 3,463

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other debtors 20,000 36,758

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 33,942 43,358
Trade creditors 308 578
Taxation and social security 8,973 10,808
Other creditors - 32,648
43,223 87,392

7. ULTIMATE CONTROLLING PARTY

The company was under the control of the directors, Mr Ozkay Mehmet and Mrs Hanife Mehmet throughout the current financial year by virtue of their equal shareholding.