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Registered Number: 07821406
England and Wales

 

 

 

OOB CONSULTANCY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Director Olumuyiwa Obileye
Registered Number 07821406
Registered Office 5 Heatherfold Way
Pinner Middlesex
Pinner
Middlesex
HA5 2LG
Accountants Bisola Obileye Accounting Services
5 Heatherfold Way
Pinner
Middlesex
HA5 2LG
Secretary Bisola Obileye
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 October 2023.
Principal activities

Principal activity of the company during the financial year was business finance and management consultancy and trading in sport merchandise.
Director
The director who served the company throughout the year was as follows:
Olumuyiwa Obileye
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Olumuyiwa Obileye
Director

Date approved: 31 July 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 October 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Bisola Obileye Accounting Services
31 October 2023



....................................................
Bisola Obileye Accounting Services
5 Heatherfold Way
Pinner
Middlesex
HA5 2LG
31 July 2024
3
 
 
Notes
 
2023
£
  2022
£
Turnover 43,894    59,980 
Cost of sales (7,929)   (6,926)
Gross profit 35,965    53,054 
Administrative expenses (45,410)   (50,793)
Operating profit/(loss) (9,445)   2,261 
Profit/(Loss) on ordinary activities before taxation (9,445)   2,261 
Tax on profit on ordinary activities  
Profit/(Loss) for the financial year (9,445)   2,261 
 
4
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 4,004    10,868 
Investments 4 14,000    14,000 
18,004    24,868 
Current assets      
Debtors: amounts falling due within one year 5 1,278    1,650 
Debtors: amounts falling due after one year 6 14,500    14,000 
Cash at bank and in hand 167,364    205,877 
183,142    221,527 
Creditors: amount falling due within one year 7 (62,126)   (97,930)
Net current assets 121,016    123,597 
 
Total assets less current liabilities 139,020    148,465 
Net assets 139,020    148,465 
 

Capital and reserves
     
Called up share capital 8 1,000    1,000 
Profit and loss account 138,020    147,465 
Shareholders' funds 139,020    148,465 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 31 July 2024 and were signed by:


-------------------------------
Olumuyiwa Obileye
Director
5
General Information
OOB Consultancy Limited is a private company, limited by shares, registered in England and Wales, registration number 07821406, registration address 5 Heatherfold Way, Pinner Middlesex, Pinner , Middlesex, HA5 2LG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 November 2022 34,321    833    35,154 
Additions    
Disposals    
At 31 October 2023 34,321    833    35,154 
Depreciation
At 01 November 2022 30,317    833    31,150 
Charge for year    
On disposals    
At 31 October 2023 30,317    833    31,150 
Net book values
Closing balance as at 31 October 2023 4,004      4,004 
Opening balance as at 01 November 2022 10,868      10,868 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 November 2022 14,000    14,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 October 2023 14,000    14,000 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Corporation Tax   383 
VAT 1,278    1,267 
1,278    1,650 

6.

Debtors: amounts falling due after one year

2023
£
  2022
£
Loan 14,500    14,000 
14,500    14,000 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
PAYE & Social Security 980    2,819 
Accrued Expenses 59,282    55,092 
Other Creditors (1)   (1)
Payments Received on Account   40,020 
Wages & Salaries Control Account 1,865   
62,126    97,930 

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
10,000 Class A shares of £0.10 each 1,000    1,000 
1,000    1,000 

6
  2023
£
  2022
£
Turnover          
Fee Income   43,894      59,980 
  43,894      59,980 
Cost of sales          
Other Direct Costs 7,929      6,926 
  (7,929)     (6,926)
Gross profit   35,965      53,054 
Administrative expenses          
Other Staff-Related Expenses 51      23 
Directors Salaries 30,000      30,969 
Directors Employer's PAYE & NI Contributions 2,932      2,643 
Accountancy Fees 2,000      4,500 
Motor Repairs and Servicing 2,245      4,042 
General Travel Expenses     17 
Bank Charges 18      23 
Depreciation Charge: Motor Vehicles 6,864      6,864 
Entertainment     65 
Computer Expenses 911      487 
Repairs & Renewals     631 
Stationery & Postage    
Telephone, Fax & Internet 348      489 
Sundry Expenses (2)     (1)
Subscriptions 35      35 
  (45,410)     (50,793)
Operating profit/(loss)   (9,445)     2,261 
Profit/(Loss) on ordinary activities before taxation   (9,445)     2,261 
Profit/(Loss) for the financial year   (9,445)     2,261 
 
7