1 June 2022 false No description of principal activity Taxfiler 2023.12 SC698660business:PrivateLimitedCompanyLtd2022-06-012023-05-31 SC6986602022-05-31 SC6986602022-06-012023-05-31 SC698660business:AuditExemptWithAccountantsReport2022-06-012023-05-31 SC698660business:FilletedAccounts2022-06-012023-05-31 SC6986602023-05-31 SC698660business:Director12022-06-012023-05-31 SC698660business:RegisteredOffice2022-06-012023-05-31 SC6986602022-05-31 SC698660core:WithinOneYear2023-05-31 SC698660core:WithinOneYear2022-05-31 SC698660core:AfterOneYear2023-05-31 SC698660core:AfterOneYear2022-05-31 SC698660core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 SC698660core:ShareCapitalcore:PreviouslyStatedAmount2022-05-31 SC698660core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 SC698660core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-05-31 SC698660core:PreviouslyStatedAmount2023-05-31 SC698660core:PreviouslyStatedAmount2022-05-31 SC698660business:SmallEntities2022-06-012023-05-31 SC698660countries:Scotland2022-06-012023-05-31 SC698660core:LandBuildings2022-06-012023-05-31 SC698660core:LandBuildings2022-05-31 SC698660core:LandBuildings2023-05-31 SC6986602021-05-132022-05-31 iso4217:GBP xbrli:pure
Company Registration No. SC698660 (Scotland)
Oifis Limited Unaudited accounts for the year ended 31 May 2023
Oifis Limited Unaudited accounts Contents
Page
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Oifis Limited Company Information for the year ended 31 May 2023
Director
K White
Company Number
SC698660 (Scotland)
Registered Office
66 Drumlin Drive Milngavie Glasgow G62 6NQ
Accountants
Assenti & Noble Ltd 18 Mosshead Road Bearsden Glasgow G61 3HN
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Oifis Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
418,496 
418,496 
Current assets
Cash at bank and in hand
8,778 
11,458 
Creditors: amounts falling due within one year
(57,213)
(48,753)
Net current liabilities
(48,435)
(37,295)
Total assets less current liabilities
370,061 
381,201 
Creditors: amounts falling due after more than one year
(341,391)
(370,564)
Net assets
28,670 
10,637 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
28,669 
10,636 
Shareholders' funds
28,670 
10,637 
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 6 February 2024 and were signed on its behalf by
K White Director Company Registration No. SC698660
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Oifis Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Oifis Limited is a private company, limited by shares, registered in Scotland, registration number SC698660. The registered office is 66 Drumlin Drive, Milngavie, Glasgow, G62 6NQ.
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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents net rents received, excluding value added tax.
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
No depreciation provided
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 June 2022
418,496 
At 31 May 2023
418,496 
Depreciation
At 31 May 2023
- 
Net book value
At 31 May 2023
418,496 
At 31 May 2022
418,496 
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Oifis Limited Notes to the Accounts for the year ended 31 May 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
20,987 
20,987 
Trade creditors
2,784 
2,784 
Taxes and social security
6,725 
2,495 
Loans from directors
16,747 
19,999 
Accruals
2,470 
2,488 
Deferred income
7,500 
- 
57,213 
48,753 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
241,391 
250,564 
Loans from directors
100,000 
120,000 
341,391 
370,564 
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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