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Registration number: 08157259

OJS Solutions Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 31 July 2023

 

OJS Solutions Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

OJS Solutions Limited

(Registration number: 08157259)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

2,645

 

2,146

Current assets

   

 

Debtors

5

5,130

 

10,058

 

Cash at bank and in hand

 

5,741

 

10,386

 

 

10,871

 

20,444

 

Creditors: Amounts falling due within one year

6

(5,600)

 

(5,720)

 

Net current assets

   

5,271

 

14,724

Total assets less current liabilities

   

7,916

 

16,870

Creditors: Amounts falling due after more than one year

6

 

(12,917)

 

(17,917)

Net liabilities

   

(5,001)

 

(1,047)

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

(5,101)

 

(1,147)

 

Total equity

   

(5,001)

 

(1,047)

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 5 March 2024
 

.........................................
Mr M. Lodge
Director

 

OJS Solutions Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Grange Meadows
Selby
YO8 4FE

These financial statements were authorised for issue by the director on 5 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

- 25% Reducing balance

I.T. equipment

- 33% - 50% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

OJS Solutions Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 July 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2022

18,289

18,289

Additions

1,258

1,258

At 31 July 2023

19,547

19,547

Depreciation

At 1 August 2022

16,143

16,143

Charge for the year

759

759

At 31 July 2023

16,902

16,902

Carrying amount

At 31 July 2023

2,645

2,645

At 31 July 2022

2,146

2,146

5

Debtors

Current

2023
£

2022
£

Other debtors

5,130

10,058

Included within Other debtors is a loan to the Director of the company of £5,130. (2022 £10,058) The loan is
unsecured, interest free and repayable on demand.

 

OJS Solutions Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 July 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

5,000

5,000

Other creditors

600

720

5,600

5,720

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Loans and borrowings

12,917

17,917