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Company Registration No. 08533285 (England and Wales)
OAF Associates Limited Unaudited accounts for the year ended 31 May 2023
OAF Associates Limited Unaudited accounts Contents
Page
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OAF Associates Limited Company Information for the year ended 31 May 2023
Directors
Ayokunnu O J Olaogun Olufolake A R Olaogun
Secretary
Ayokunnu Olaogun
Company Number
08533285 (England and Wales)
Registered Office
20 BILL THOMAS WAY ROWLEY REGIS BIRMINGHAM WEST MIDLANDS B65 9AB UNITED KINGDOM
Accountants
AMB Accountants & Consultancy Services Ltd 3 St Clements Road Greenhithe Kent DA9 9FG
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OAF Associates Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
38,043 
41,753 
Investments
5,050 
5,050 
43,093 
46,803 
Current assets
Cash at bank and in hand
9,113 
16,274 
Creditors: amounts falling due within one year
(34,050)
(20,207)
Net current liabilities
(24,937)
(3,933)
Total assets less current liabilities
18,156 
42,870 
Creditors: amounts falling due after more than one year
(56,111)
(65,735)
Net liabilities
(37,955)
(22,865)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(38,055)
(22,965)
Shareholders' funds
(37,955)
(22,865)
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 directors acknowledge their 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 of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by
Ayokunnu O J Olaogun Director Company Registration No. 08533285
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OAF Associates Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
OAF Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 08533285. The registered office is 20 BILL THOMAS WAY, ROWLEY REGIS, BIRMINGHAM, WEST MIDLANDS, B65 9AB, 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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25%
Fixtures & fittings
20%
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2022
59,797 
8,969 
68,766 
At 31 May 2023
59,797 
8,969 
68,766 
Depreciation
At 1 June 2022
19,193 
7,820 
27,013 
Charge for the year
2,850 
860 
3,710 
At 31 May 2023
22,043 
8,680 
30,723 
Net book value
At 31 May 2023
37,754 
289 
38,043 
At 31 May 2022
40,604 
1,149 
41,753 
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OAF Associates Limited Notes to the Accounts for the year ended 31 May 2023
5
Investments
Other investments 
£ 
Valuation at 1 June 2022
5,050 
Valuation at 31 May 2023
5,050 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Loans from directors
34,050 
20,207 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
19,546 
22,085 
Obligations under finance leases and hire purchase contracts
36,565 
36,520 
Other creditors
- 
7,130 
56,111 
65,735 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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