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REGISTERED NUMBER: 09505093 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2023

for

OWLA Limited

OWLA Limited (Registered number: 09505093)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


OWLA Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr S P Smeaton
Mrs R C Smeaton





REGISTERED OFFICE: Staithe Business Suite
Staithe Road
Bungay
Suffolk
NR35 1ET





REGISTERED NUMBER: 09505093 (England and Wales)





ACCOUNTANTS: Knights Lowe
Chartered Accountants
Eldo House, Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

OWLA Limited (Registered number: 09505093)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,610 1,792
3,610 1,792

CURRENT ASSETS
Debtors 6 99,462 46,008
Cash at bank 209,792 196,106
309,254 242,114
CREDITORS
Amounts falling due within one year 7 61,283 66,343
NET CURRENT ASSETS 247,971 175,771
TOTAL ASSETS LESS CURRENT LIABILITIES 251,581 177,563

PROVISIONS FOR LIABILITIES 9 280 -
NET ASSETS 251,301 177,563

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 251,201 177,463
SHAREHOLDERS' FUNDS 251,301 177,563

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

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

OWLA Limited (Registered number: 09505093)

Balance Sheet - continued
31 March 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 25 October 2023 and were signed on its behalf by:




Mr S P Smeaton - Director



Mrs R C Smeaton - Director


OWLA Limited (Registered number: 09505093)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

OWLA Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue for services is recognised when it is probable than an economic benefit will flow to the entity and the revenue costs can be reliably measured. Services invoiced in advance recognised as deferred income, and services invoiced in arrears recognised as accrued income.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, has been amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Financial instruments
All of the company's financial instruments are considered to be basic. Basic financial instruments are recognised at amortised cost.

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.


OWLA Limited (Registered number: 09505093)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

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

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.

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 140,000
AMORTISATION
At 1 April 2022
and 31 March 2023 140,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

OWLA Limited (Registered number: 09505093)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 9,799
Additions 2,868
At 31 March 2023 12,667
DEPRECIATION
At 1 April 2022 8,007
Charge for year 1,050
At 31 March 2023 9,057
NET BOOK VALUE
At 31 March 2023 3,610
At 31 March 2022 1,792

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 95,663 35,913
Other debtors 3,799 10,095
99,462 46,008

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 184 4,045
Taxation and social security 49,867 36,048
Other creditors 11,232 26,250
61,283 66,343

Other creditors includes an amount owed to a director.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 6,500 7,057
Between one and five years 19,500 26,000
26,000 33,057

OWLA Limited (Registered number: 09505093)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 280 -

Deferred
tax
£   
Provided during year 280
Balance at 31 March 2023 280

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100