1 June 2022 false Taxfiler 2023.10.1 08078583business:PrivateLimitedCompanyLtd2022-06-012023-05-31 080785832022-05-31 080785832022-06-012023-05-31 08078583business:AuditExempt-NoAccountantsReport2022-06-012023-05-31 08078583business:FilletedAccounts2022-06-012023-05-31 080785832023-05-31 08078583business:Director12022-06-012023-05-31 08078583business:RegisteredOffice2022-06-012023-05-31 080785832022-05-31 08078583core:WithinOneYear2023-05-31 08078583core:WithinOneYear2022-05-31 08078583core:AfterOneYear2023-05-31 08078583core:AfterOneYear2022-05-31 08078583core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 08078583core:ShareCapitalcore:PreviouslyStatedAmount2022-05-31 08078583core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 08078583core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-05-31 08078583core:PreviouslyStatedAmount2023-05-31 08078583core:PreviouslyStatedAmount2022-05-31 08078583business:SmallEntities2022-06-012023-05-31 08078583countries:EnglandWales2022-06-012023-05-31 08078583core:PlantMachinery2022-06-012023-05-31 08078583core:ComputerEquipment2022-06-012023-05-31 08078583core:PlantMachinery2022-05-31 08078583core:ComputerEquipment2022-05-31 08078583core:PlantMachinery2023-05-31 08078583core:ComputerEquipment2023-05-31 080785832021-06-012022-05-31 iso4217:GBP xbrli:pure
Company Registration No. 08078583 (England and Wales)
Afobi Limited Unaudited accounts for the year ended 31 May 2023
Afobi Limited Unaudited accounts Contents
Page
- 2 -
Afobi Limited Company Information for the year ended 31 May 2023
Director
Z Newman
Company Number
08078583 (England and Wales)
Registered Office
6 NORTH VIEW HARDWICK AYLESBURY BUCKINGHAMSHIRE HP22 4EB United Kingdom
Accountants
Watts Wender Morton 6 North View Hardwick Aylesbury Bucks HP22 4EB
- 3 -
Afobi Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,295 
1,746 
Investment property
174,581 
174,581 
175,876 
176,327 
Current assets
Debtors
4,351 
3,830 
Cash at bank and in hand
10,062 
12,265 
14,413 
16,095 
Creditors: amounts falling due within one year
(105,552)
(161,106)
Net current liabilities
(91,139)
(145,011)
Total assets less current liabilities
84,737 
31,316 
Creditors: amounts falling due after more than one year
(12,006)
(16,979)
Net assets
72,731 
14,337 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
72,730 
14,336 
Shareholders' funds
72,731 
14,337 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 November 2023 and were signed on its behalf by
Z Newman Director Company Registration No. 08078583
- 4 -
Afobi Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Afobi Limited is a private company, limited by shares, registered in England and Wales, registration number 08078583. The registered office is 6 NORTH VIEW, HARDWICK, AYLESBURY, BUCKINGHAMSHIRE, HP22 4EB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Computer equipment
written off over 4 years
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2022
5,428 
2,639 
8,067 
At 31 May 2023
5,428 
2,639 
8,067 
Depreciation
At 1 June 2022
4,467 
1,854 
6,321 
Charge for the year
192 
259 
451 
At 31 May 2023
4,659 
2,113 
6,772 
Net book value
At 31 May 2023
769 
526 
1,295 
At 31 May 2022
961 
785 
1,746 
5
Investment property
2023 
£ 
Fair value at 1 June 2022
174,581 
At 31 May 2023
174,581 
Value unchanged as at 31st May 2023
- 5 -
Afobi Limited Notes to the Accounts for the year ended 31 May 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
364 
36 
Trade debtors
- 
2,500 
Accrued income and prepayments
3,987 
1,294 
4,351 
3,830 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
4,973 
4,868 
Trade creditors
108 
113 
Taxes and social security
14,361 
16,871 
Other creditors
255 
215 
Loans from directors
84,955 
138,139 
Accruals
900 
900 
105,552 
161,106 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
12,006 
16,979 
9
Transactions with related parties
At the Balance Sheet date an amount of £84955 was due to Z Newman. This is interest free and repayable on demand
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
- 6 -