1 June 2022 false No description of principal activity Taxfiler 2023.10.1 10802813business:PrivateLimitedCompanyLtd2022-06-012023-05-31 108028132022-05-31 108028132022-06-012023-05-31 10802813business:AuditExemptWithAccountantsReport2022-06-012023-05-31 10802813business:FilletedAccounts2022-06-012023-05-31 108028132023-05-31 10802813business:Director12022-06-012023-05-31 10802813business:RegisteredOffice2022-06-012023-05-31 108028132022-05-31 10802813core:WithinOneYear2023-05-31 10802813core:WithinOneYear2022-05-31 10802813core:AfterOneYear2023-05-31 10802813core:AfterOneYear2022-05-31 10802813core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 10802813core:ShareCapitalcore:PreviouslyStatedAmount2022-05-31 10802813core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 10802813core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-05-31 10802813core:PreviouslyStatedAmount2023-05-31 10802813core:PreviouslyStatedAmount2022-05-31 10802813business:SmallEntities2022-06-012023-05-31 10802813countries:EnglandWales2022-06-012023-05-31 10802813core:LandBuildings2022-06-012023-05-31 10802813core:PlantMachinery2022-06-012023-05-31 10802813core:MotorVehicles2022-06-012023-05-31 10802813core:FurnitureFittings2022-06-012023-05-31 10802813core:LandBuildings2022-05-31 10802813core:PlantMachinery2022-05-31 10802813core:MotorVehicles2022-05-31 10802813core:FurnitureFittings2022-05-31 10802813core:LandBuildings2023-05-31 10802813core:PlantMachinery2023-05-31 10802813core:MotorVehicles2023-05-31 10802813core:FurnitureFittings2023-05-31 10802813business:OrdinaryShareClass12022-06-012023-05-31 10802813business:OrdinaryShareClass12021-06-012022-05-31 108028132021-06-012022-05-31 iso4217:GBP xbrli:shares xbrli:pure
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
Page
- 2 -
Oda Life Textile and Furniture Limited Company Information for the year ended 31 May 2023
Director
Mr O Odemis
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
- 3 -
Oda Life Textile and Furniture Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
105,774 
36,832 
Current assets
Inventories
157,500 
147,500 
Debtors
12,250 
7,000 
Cash at bank and in hand
9,518 
37,730 
179,268 
192,230 
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)
Net assets
33,395 
37,170 
Capital and reserves
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
- 4 -
Oda Life Textile and Furniture Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
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.
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.
Turnover
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:
Land & buildings
20 years
Plant & machinery
5 years
Motor vehicles
5 years
Fixtures & fittings
5 years
Inventories
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.
- 5 -
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 
Depreciation
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 
Net book value
At 31 May 2023
59,375 
17,293 
28,506 
600 
105,774 
At 31 May 2022
- 
1,200 
35,632 
- 
36,832 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,250 
- 
Other debtors
7,000 
7,000 
12,250 
7,000 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
33,672 
69,148 
Taxes and social security
14,691 
15,535 
Loans from directors
172,451 
66,376 
230,814 
161,059 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
20,833 
30,833 
8
Share capital
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.
- 6 -
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).
- 7 -