Company Registration No. 07418959 (England and Wales)
OASIS TRADING IMPEX LIMITED
Unaudited accounts
for the year ended 31 October 2023
OASIS TRADING IMPEX LIMITED
Unaudited accounts
Contents
OASIS TRADING IMPEX LIMITED
Company Information
for the year ended 31 October 2023
Company Number
07418959 (England and Wales)
Registered Office
82-84 COVE ROAD
FARNBOROUGH
HAMPSHIRE
GU14 0EU
ENGLAND
Accountants
Asmita & Associates Ltd
114-116 Plumstead High Street
Plumstead
London
SE18 1SJ
OASIS TRADING IMPEX LIMITED
Statement of financial position
as at 31 October 2023
Intangible assets
10,500
14,000
Cash at bank and in hand
8,170
12,514
Creditors: amounts falling due within one year
(101,817)
(89,973)
Net current liabilities
(40,368)
(47,203)
Net liabilities
(28,979)
(32,104)
Called up share capital
120
120
Profit and loss account
(29,099)
(32,224)
Shareholders' funds
(28,979)
(32,104)
For the year ending 31 October 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.
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 30 July 2024 and were signed on its behalf by
Sher Bahadur Rai
Director
Company Registration No. 07418959
OASIS TRADING IMPEX LIMITED
Notes to the Accounts
for the year ended 31 October 2023
OASIS TRADING IMPEX LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07418959. The registered office is 82-84 COVE ROAD, FARNBOROUGH, HAMPSHIRE, GU14 0EU, ENGLAND.
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:
Motor vehicles
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
OASIS TRADING IMPEX LIMITED
Notes to the Accounts
for the year ended 31 October 2023
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 November 2022
12,000
42,558
54,558
At 31 October 2023
12,000
42,558
54,558
At 1 November 2022
12,000
41,459
53,459
Charge for the year
-
210
210
At 31 October 2023
12,000
41,669
53,669
At 31 October 2023
-
889
889
At 31 October 2022
-
1,099
1,099
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
22,665
17,179
Taxes and social security
2,040
5,306
Other creditors
1,381
2,688
Loans from directors
75,731
64,800
OASIS TRADING IMPEX LIMITED
Notes to the Accounts
for the year ended 31 October 2023
8
Transactions with related parties
The director loan includes credit balance of £75,731 (2022: £64,800) on which no interest has been charged to the company. The condition of the loan is to repay within 12 months of the borrowing. There is no security held by the director against the loan.
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).