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O2H LIMITED

Registered Number
08771613
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

O2H LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

Prashant Shah
Sunil Shah

Company Secretary

Business Partners Financial and Management Services Limited

Registered Address

Hauxton House, Mill Scitech Park,
Mill Lane, Hauxton
Cambridge
CB22 5HX

Registered Number

08771613 (England and Wales)
O2H LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5468,129462,646
Investments6202,862152,862
670,991615,508
Current assets
Debtors82,264,5251,864,268
Cash at bank and on hand323,341800,812
2,587,8662,665,080
Creditors amounts falling due within one year9(4,236,621)(4,483,700)
Net current assets (liabilities)(1,648,755)(1,818,620)
Total assets less current liabilities(977,764)(1,203,112)
Creditors amounts falling due after one year10(400,000)(414,822)
Net assets(1,377,764)(1,617,934)
Capital and reserves
Called up share capital22
Profit and loss account(1,377,766)(1,617,936)
Shareholders' funds(1,377,764)(1,617,934)
The financial statements were approved and authorised for issue by the Board of Directors on 22 November 2023, and are signed on its behalf by:
Sunil Shah
Director
Registered Company No. 08771613
O2H LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Fixtures and fittings5
Office Equipment3
Revenue recognition policy
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year97
5.Property, plant and equipment

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 22396,786-143,054114,251654,091
Additions149,5611,25350015,099166,413
Disposals---(4,309)(4,309)
At 31 March 23546,3471,253143,554125,041816,195
Depreciation and impairment
At 01 April 22143,811-28,01619,618191,445
Charge for year92,7742628,61137,365158,776
On disposals---(2,155)(2,155)
At 31 March 23236,5852656,62754,828348,066
Net book value
At 31 March 23309,7621,22786,92770,213468,129
At 31 March 22252,975-115,03894,633462,646
6.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 April 22152,862152,862
Additions50,00050,000
At 31 March 23202,862202,862
Net book value
At 31 March 23202,862202,862
At 31 March 22152,862152,862

Notes

1Other investments other than loans
7.Description of nature of transactions and balances with related parties
The directors Sunil Shah and Prashant Shah are also trustees of O2h SSAS. O2h Limited has recharged costs to O2h SSAS of £52,164 (2022: £192,819). The balance due from O2h SSAS at the year end is £89,464 (2022: £89,464). The directors Sunil Shah and Prashant Shah are also directors of O2h Ventures Limited. O2h Limited has recharged costs of £214,286 (2022: £154,322), O2h Limited has also loaned money to O2h Ventures Limited. The balance due from O2h Ventures Limited at the year end is £8,212 (2022: £8,212). The directors Sunil Shah and Prashant Shah are also directors of O2h Cowork Labs Limited. O2h Limited has recharged costs of £19,999 (2022: Nil) to O2h Cowork Labs Limited. O2h Limited has also ladvanced loans to O2h Cowork Labs Limited. The balance due from O2h Cowork Labs Limited at the year end was £30,000 (2022: £20,301). The directors Sunil Shah and Prashant Shah are also director's of O2h Discovery PVT Ltd, a company incorporated in India. O2h Discovery PVT Ltd provided research services to O2h Ltd of £13,273,593 (2022: £9,847,358). The balance due to O2h Discovery PVT Ltd at the year end was £3,656,967 (2022: £3,232,321).
8.Debtors

2023

2022

££
Trade debtors / trade receivables2,074,8351,514,426
Amounts owed by associates and joint ventures / participating interests127,676117,978
Other debtors59,249177,698
Prepayments and accrued income2,76554,166
Total2,264,5251,864,268
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables3,720,4523,337,918
Bank borrowings and overdrafts-2,800
Amounts owed to related parties71,912814,886
Taxation and social security357,466321,093
Other creditors5,4426,003
Accrued liabilities and deferred income81,3491,000
Total4,236,6214,483,700
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts400,000414,822
Total400,000414,822