Company Registration No. 05489308 (England and Wales)
O. J. Oyan Ltd
Unaudited accounts
for the year ended 30 June 2023
O. J. Oyan Ltd
Unaudited accounts
Contents
O. J. Oyan Ltd
Company Information
for the year ended 30 June 2023
Director
Dr Jude Oritsemeyiwa Oyan
Company Number
05489308 (England and Wales)
Registered Office
Flat 1
251 Connaught Works
Old Ford Road
London
E3 5PS
Accountants
Sigma Chartered Accountants
J O Hunter House
409 Bradford Road
Huddersfield
West Yorkshire
HD2 2RB
O. J. Oyan Ltd
Statement of financial position
as at 30 June 2023
Cash at bank and in hand
239,574
166,835
Creditors: amounts falling due within one year
(91,758)
(70,319)
Net current assets
148,443
104,039
Net assets
148,774
104,480
Called up share capital
1
1
Profit and loss account
148,773
104,479
Shareholders' funds
148,774
104,480
For the year ending 30 June 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 26 February 2024 and were signed on its behalf by
Dr Jude Oritsemeyiwa Oyan
Director
Company Registration No. 05489308
O. J. Oyan Ltd
Notes to the Accounts
for the year ended 30 June 2023
O. J. Oyan Ltd is a private company, limited by shares, registered in England and Wales, registration number 05489308. The registered office is Flat 1, 251 Connaught Works, Old Ford Road, London, E3 5PS.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
25% on cost
Computer equipment
25% on cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
O. J. Oyan Ltd
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Total
5
Average number of employees
During the year the average number of employees was 0 (2022: 0).