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Registration number: 10264685

ATOZ Serviced Apartments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

ATOZ Serviced Apartments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

ATOZ Serviced Apartments Ltd

Company Information

Directors

Mr Andrew Gomina Ozigi

Mrs Zeinab Ruth Ozigi

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

ATOZ Serviced Apartments Ltd

(Registration number: 10264685)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

16,335

27,904

Current assets

 

Debtors

6

55,085

35,398

Cash at bank and in hand

 

490,016

156,893

 

545,101

192,291

Creditors: Amounts falling due within one year

7

(156,757)

(103,652)

Net current assets

 

388,344

88,639

Total assets less current liabilities

 

404,679

116,543

Creditors: Amounts falling due after more than one year

7

(429,661)

(68,187)

Net (liabilities)/assets

 

(24,982)

48,356

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(25,082)

48,256

Shareholders' (deficit)/funds

 

(24,982)

48,356

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.

Directors' 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 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.

Approved and authorised by the Board on 26 July 2024 and signed on its behalf by:
 

 

ATOZ Serviced Apartments Ltd

(Registration number: 10264685)
Balance Sheet as at 31 July 2023 (continued)

.........................................
Mr Andrew Gomina Ozigi
Director

.........................................
Mrs Zeinab Ruth Ozigi
Director

 

ATOZ Serviced Apartments Ltd

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:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the Board on 26 July 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

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.

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

ATOZ Serviced Apartments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

20% Straight Line

Office Equipment

20% Straight Line

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

ATOZ Serviced Apartments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 3).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

5,812

7,005

 

ATOZ Serviced Apartments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

37,668

37,668

Additions

8,168

8,168

Disposals

(18,532)

(18,532)

At 31 July 2023

27,304

27,304

Depreciation

At 1 August 2022

9,764

9,764

Charge for the year

5,813

5,813

Eliminated on disposal

(4,608)

(4,608)

At 31 July 2023

10,969

10,969

Carrying amount

At 31 July 2023

16,335

16,335

At 31 July 2022

27,904

27,904

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

-

1,255

Amounts owed by related parties

1,093

450

Prepayments

 

197

186

Other debtors

 

53,795

33,507

   

55,085

35,398

7

Creditors

Creditors: amounts falling due within one year

 

ATOZ Serviced Apartments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

7

Creditors (continued)

2023
£

2022
£

Due within one year

Trade creditors

16,645

(75)

Taxation and social security

104,087

72,420

Accruals and deferred income

21,608

19,307

Other creditors

14,417

12,000

156,757

103,652

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

411,256

43,333

Other non-current financial liabilities

 

18,405

24,854

 

429,661

68,187

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

33,756

43,333

Other borrowings

377,500

-

411,256

43,333