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REGISTERED NUMBER: 08518968 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

O-Zone Ventures Limited

O-Zone Ventures Limited (Registered number: 08518968)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


O-Zone Ventures Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: C P O'Malley





SECRETARY:





REGISTERED OFFICE: The Tractor House
Bownhill
Woodchester
Stroud
Gloucestershire
GL5 5PW





REGISTERED NUMBER: 08518968 (England and Wales)





ACCOUNTANTS: Brooklyn Consultancy Ltd
Chartered Accountants
Newstones
Park Road
Nailsworth
Gloucestershire
GL6 0HZ

O-Zone Ventures Limited (Registered number: 08518968)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
CURRENT ASSETS
Debtors 4 73,316 67,602
Cash at bank 1 1
73,317 67,603
CREDITORS
Amounts falling due within one year 5 73,600 66,410
NET CURRENT (LIABILITIES)/ASSETS (283 ) 1,193
TOTAL ASSETS LESS CURRENT
LIABILITIES

(283

)

1,193

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (383 ) 1,093
(283 ) 1,193

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 31 January 2024 and were signed by:





C P O'Malley - Director


O-Zone Ventures Limited (Registered number: 08518968)

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

1. STATUTORY INFORMATION

O-Zone Ventures 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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. DEBTORS
31.5.23 31.5.22
£    £   
Amounts falling due within one year:
Directors' current accounts 69,021 63,307
Tax - 4,295
69,021 67,602

O-Zone Ventures Limited (Registered number: 08518968)

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

4. DEBTORS - continued
31.5.23 31.5.22
£    £   
Amounts falling due after more than one year:
Other debtors 4,295 -

Aggregate amounts 73,316 67,602

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 22,041 17,871
Tax 39,315 37,159
Social security and other taxes 779 215
Other creditors 9,893 9,593
Accrued expenses 1,572 1,572
73,600 66,410

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
C P O'Malley
Balance outstanding at start of year 63,307 67,215
Amounts advanced 59,714 81,592
Amounts repaid (54,000 ) (85,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 69,021 63,307

Interest was charged on the overdrawn directors loan at 3.5% and included in the interest earned in the financial statements.