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Registration number: 14346787

Oval Advisory Limited

Annual Report and Unaudited Abridged Financial Statements

for the Period from 9 September 2022 to 30 September 2023

 

Oval Advisory Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 5

 

Oval Advisory Limited

Company Information

Directors

Mr Lee Barnes

Mr Rajat Kohli

Mr Paul Colin Stevens

Mr Gursharan Jit Singh Randhawa

Registered office

93 Carshalton Park Road
Carshalton
Surrey
SM5 3SJ

Accountants

David Evans & Co Limited
Stowegate House
Lombard Street
Lichfield
Staffs
WS13 6DP

 

Oval Advisory Limited

(Registration number: 14346787)
Abridged Balance Sheet as at 30 September 2023

Note

2023
£

Current assets

 

Debtors

25,000

Cash at bank and in hand

 

31,559

 

56,559

Creditors: Amounts falling due within one year

(12,396)

Total assets less current liabilities

 

44,163

Accruals and deferred income

 

(900)

Net assets

 

43,263

Capital and reserves

 

Called up share capital

4

100

Retained earnings

43,163

Shareholders' funds

 

43,263

For the financial period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 March 2024 and signed on its behalf by:
 

 

Oval Advisory Limited

(Registration number: 14346787)
Abridged Balance Sheet as at 30 September 2023

.........................................
Mr Lee Barnes
Director

.........................................
Mr Rajat Kohli
Director

 

Oval Advisory Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 9 September 2022 to 30 September 2023

1

General information

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

The address of its registered office is:
93 Carshalton Park Road
Carshalton
Surrey
SM5 3SJ
England

These financial statements were authorised for issue by the Board on 8 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 abridged 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 abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Oval Advisory Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 9 September 2022 to 30 September 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 directors) during the period, was 4.

4

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each of £1 each

100

100