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Registration number: 13867949

OYO Motors Ltd

Unaudited Filleted Financial Statements

for the Period from 24 January 2022 to 31 January 2023

 

OYO Motors Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

OYO Motors Ltd

Company Information

Directors

Mr C Jones

Mr J Mcleod

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Limited
Chartered Certified Accountants
2 Western Street
Barnsley
South Yorkshire
S70 2BP

 

OYO Motors Ltd

(Registration number: 13867949)
Balance Sheet as at 31 January 2023

Note

2023
£

Current assets

 

Stocks

3

20,076

Debtors

4

1,158

Cash at bank and in hand

 

2,671

 

23,905

Creditors: Amounts falling due within one year

5

(23,658)

Net assets

 

247

Capital and reserves

 

Called up share capital

6

100

Retained earnings

147

Shareholders' funds

 

247

For the financial period ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 October 2023 and signed on its behalf by:
 

.........................................
Mr C Jones
Director

 

OYO Motors Ltd

Notes to the Unaudited Financial Statements for the Period from 24 January 2022 to 31 January 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

OYO Motors Ltd

Notes to the Unaudited Financial Statements for the Period from 24 January 2022 to 31 January 2023

2

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

3

Stocks

2023
£

Other inventories

20,076

4

Debtors

Current

2023
£

Prepayments

49

Other debtors

1,109

 

1,158

5

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

6

Accruals and deferred income

555

Other creditors

23,097

23,658

6

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

50

50

Ordinary A of £1 each

50

50

 

100

100

 

OYO Motors Ltd

Notes to the Unaudited Financial Statements for the Period from 24 January 2022 to 31 January 2023

7

Related party transactions

Transactions with directors

2023

At 24 January 2022
£

Other payments made to company by director
£

At 31 January 2023
£

Mr C Jones

No interest is charged on the loan and there is no fixed date of repayment.

-

18,077

18,077

       
     

Mr J Mcleod

No interest is charged on the loan and there is no fixed date of repayment.

-

4,985

4,985