Company Registration No. 10802813 (England and Wales)
Oda Life Textile and Furniture Limited
Unaudited accounts
for the year ended 31 May 2023
Oda Life Textile and Furniture Limited
Unaudited accounts
Contents
Oda Life Textile and Furniture Limited
Company Information
for the year ended 31 May 2023
Company Number
10802813 (England and Wales)
Registered Office
307-309 Hertford Road
London
N9 7ET
United Kingdom
Accountants
DNG Associates
214 Baker Street
Enfield
London
EN1 3JT
Oda Life Textile and Furniture Limited
Statement of financial position
as at 31 May 2023
Tangible assets
105,774
36,832
Inventories
157,500
147,500
Cash at bank and in hand
9,518
37,730
Creditors: amounts falling due within one year
(230,814)
(161,059)
Net current (liabilities)/assets
(51,546)
31,171
Total assets less current liabilities
54,228
68,003
Creditors: amounts falling due after more than one year
(20,833)
(30,833)
Called up share capital
1,000
1,000
Profit and loss account
32,395
36,170
Shareholders' funds
33,395
37,170
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 28 November 2023 and were signed on its behalf by
Mr O Odemis
Director
Company Registration No. 10802813
Oda Life Textile and Furniture Limited
Notes to the Accounts
for the year ended 31 May 2023
Oda Life Textile and Furniture Limited is a private company, limited by shares, registered in England and Wales, registration number 10802813. The registered office is 307-309 Hertford Road, London, N9 7ET, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
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:
Fixtures & fittings
5 years
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Oda Life Textile and Furniture Limited
Notes to the Accounts
for the year ended 31 May 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2022
-
3,103
50,750
-
53,853
Additions
62,500
20,416
-
750
83,666
At 31 May 2023
62,500
23,519
50,750
750
137,519
At 1 June 2022
-
1,903
15,118
-
17,021
Charge for the year
3,125
4,323
7,126
150
14,724
At 31 May 2023
3,125
6,226
22,244
150
31,745
At 31 May 2023
59,375
17,293
28,506
600
105,774
At 31 May 2022
-
1,200
35,632
-
36,832
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Taxes and social security
14,691
15,535
Loans from directors
172,451
66,376
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
9
Transactions with related parties
Included within other creditors is an amount of £172,451 (2022: £66,376) due to the director of the company. There are no terms as to interest or repayment in respect of this balance.
Oda Life Textile and Furniture Limited
Notes to the Accounts
for the year ended 31 May 2023
10
Average number of employees
During the year the average number of employees was 6 (2022: 6).