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Registered number: 08677355
Oola Boola Antiques (London) Limited
Financial Statements
For The Year Ended 31 May 2023
Apple Accountancy Services Limited
Chartered Certified Accountants
146 Manor Way
Borehamwood
Hertfordshire
WD6 1QX
Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Oola Boola Antiques (London) Limited For The Year Ended 31 May 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Oola Boola Antiques (London) Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Oola Boola Antiques (London) Limited , as a body, in accordance with the terms of our engagement letter dated 31 December 2020. Our work has been undertaken solely to prepare for your approval the accounts of Oola Boola Antiques (London) Limited and state those matters that we have agreed to state to the directors of Oola Boola Antiques (London) Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oola Boola Antiques (London) Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Oola Boola Antiques (London) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Oola Boola Antiques (London) Limited . You consider that Oola Boola Antiques (London) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Oola Boola Antiques (London) Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
4th April 2024
Apple Accountancy Services Limited
Chartered Certified Accountants
146 Manor Way
Borehamwood
Hertfordshire
WD6 1QX
Page 1
Page 2
Balance Sheet
Registered number: 08677355
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 478,980 478,980
478,980 478,980
CURRENT ASSETS
Stocks 3,424 3,424
Cash at bank and in hand 44,387 65,737
47,811 69,161
Creditors: Amounts Falling Due Within One Year (219,906 ) (164,139 )
NET CURRENT ASSETS (LIABILITIES) (172,095 ) (94,978 )
TOTAL ASSETS LESS CURRENT LIABILITIES 306,885 384,002
NET ASSETS 306,885 384,002
CAPITAL AND RESERVES
Called up share capital 6 6
Profit and Loss Account 306,879 383,996
SHAREHOLDERS' FUNDS 306,885 384,002
Page 2
Page 3
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Buildline Developments Ltd
Director
Ms Elicia Scales
Director
Mrs Natasha Hughes
Director
Ms Sandra Brightman
Director
4th April 2024
The notes on page 4 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Oola Boola Antiques (London) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08677355 . The registered office is 146 Manor Way, Borehamwood, Hertfordshire, WD6 1QX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold no depreciation provided
Fixtures & Fittings 20% Straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:  3 (2022: 3)
3 3
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2022 478,980 679 479,659
As at 31 May 2023 478,980 679 479,659
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 June 2022 - 679 679
As at 31 May 2023 - 679 679
Net Book Value
As at 31 May 2023 478,980 - 478,980
As at 1 June 2022 478,980 - 478,980
Page 5