2022-09-012023-08-312023-08-31false12165813OKBEL TECHNOLOGIES LTD2024-07-3062020iso4217:GBPxbrli:pure121658132022-09-01121658132023-08-31121658132022-09-012023-08-31121658132021-09-01121658132022-08-31121658132021-09-012022-08-3112165813bus:SmallEntities2022-09-012023-08-3112165813bus:AuditExempt-NoAccountantsReport2022-09-012023-08-3112165813bus:FullAccounts2022-09-012023-08-3112165813bus:PrivateLimitedCompanyLtd2022-09-012023-08-3112165813core:WithinOneYear2023-08-3112165813core:AfterOneYear2023-08-3112165813core:WithinOneYear2022-08-3112165813core:AfterOneYear2022-08-311216581312022-09-012023-08-3112165813core:ShareCapital2023-08-3112165813core:SharePremium2023-08-3112165813core:RevaluationReserve2023-08-3112165813core:OtherReservesSubtotal2023-08-3112165813core:RetainedEarningsAccumulatedLosses2023-08-3112165813core:ShareCapital2022-08-3112165813core:SharePremium2022-08-3112165813core:RevaluationReserve2022-08-3112165813core:OtherReservesSubtotal2022-08-3112165813core:RetainedEarningsAccumulatedLosses2022-08-3112165813core:LandBuildings2023-08-3112165813core:PlantMachinery2023-08-3112165813core:Vehicles2023-08-3112165813core:FurnitureFittings2023-08-3112165813core:OfficeEquipment2023-08-3112165813core:NetGoodwill2023-08-3112165813core:IntangibleAssetsOtherThanGoodwill2023-08-3112165813core:ListedExchangeTraded2023-08-3112165813core:UnlistedNon-exchangeTraded2023-08-3112165813core:LandBuildings2022-08-3112165813core:PlantMachinery2022-08-3112165813core:Vehicles2022-08-3112165813core:FurnitureFittings2022-08-3112165813core:OfficeEquipment2022-08-3112165813core:NetGoodwill2022-08-3112165813core:IntangibleAssetsOtherThanGoodwill2022-08-3112165813core:ListedExchangeTraded2022-08-3112165813core:UnlistedNon-exchangeTraded2022-08-3112165813core:LandBuildings2022-09-012023-08-3112165813core:PlantMachinery2022-09-012023-08-3112165813core:Vehicles2022-09-012023-08-3112165813core:FurnitureFittings2022-09-012023-08-3112165813core:OfficeEquipment2022-09-012023-08-3112165813core:NetGoodwill2022-09-012023-08-3112165813core:IntangibleAssetsOtherThanGoodwill2022-09-012023-08-3112165813core:ListedExchangeTraded2022-09-012023-08-3112165813core:UnlistedNon-exchangeTraded2022-09-012023-08-3112165813core:MoreThanFiveYears2022-09-012023-08-3112165813core:Non-currentFinancialInstruments2023-08-3112165813core:Non-currentFinancialInstruments2022-08-3112165813dpl:CostSales2022-09-012023-08-3112165813dpl:DistributionCosts2022-09-012023-08-3112165813core:LandBuildings2022-09-012023-08-3112165813core:PlantMachinery2022-09-012023-08-3112165813core:Vehicles2022-09-012023-08-3112165813core:FurnitureFittings2022-09-012023-08-3112165813core:OfficeEquipment2022-09-012023-08-3112165813dpl:AdministrativeExpenses2022-09-012023-08-3112165813core:NetGoodwill2022-09-012023-08-3112165813core:IntangibleAssetsOtherThanGoodwill2022-09-012023-08-3112165813dpl:GroupUndertakings2022-09-012023-08-3112165813dpl:ParticipatingInterests2022-09-012023-08-3112165813dpl:GroupUndertakingscore:ListedExchangeTraded2022-09-012023-08-3112165813core:ListedExchangeTraded2022-09-012023-08-3112165813dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-09-012023-08-3112165813core:UnlistedNon-exchangeTraded2022-09-012023-08-3112165813dpl:CostSales2021-09-012022-08-3112165813dpl:DistributionCosts2021-09-012022-08-3112165813core:LandBuildings2021-09-012022-08-3112165813core:PlantMachinery2021-09-012022-08-3112165813core:Vehicles2021-09-012022-08-3112165813core:FurnitureFittings2021-09-012022-08-3112165813core:OfficeEquipment2021-09-012022-08-3112165813dpl:AdministrativeExpenses2021-09-012022-08-3112165813core:NetGoodwill2021-09-012022-08-3112165813core:IntangibleAssetsOtherThanGoodwill2021-09-012022-08-3112165813dpl:GroupUndertakings2021-09-012022-08-3112165813dpl:ParticipatingInterests2021-09-012022-08-3112165813dpl:GroupUndertakingscore:ListedExchangeTraded2021-09-012022-08-3112165813core:ListedExchangeTraded2021-09-012022-08-3112165813dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-09-012022-08-3112165813core:UnlistedNon-exchangeTraded2021-09-012022-08-3112165813core:NetGoodwill2023-08-3112165813core:IntangibleAssetsOtherThanGoodwill2023-08-3112165813core:LandBuildings2023-08-3112165813core:PlantMachinery2023-08-3112165813core:Vehicles2023-08-3112165813core:FurnitureFittings2023-08-3112165813core:OfficeEquipment2023-08-3112165813core:AfterOneYear2023-08-3112165813core:WithinOneYear2023-08-3112165813core:ListedExchangeTraded2023-08-3112165813core:UnlistedNon-exchangeTraded2023-08-3112165813core:ShareCapital2023-08-3112165813core:SharePremium2023-08-3112165813core:RevaluationReserve2023-08-3112165813core:OtherReservesSubtotal2023-08-3112165813core:RetainedEarningsAccumulatedLosses2023-08-3112165813core:NetGoodwill2022-08-3112165813core:IntangibleAssetsOtherThanGoodwill2022-08-3112165813core:LandBuildings2022-08-3112165813core:PlantMachinery2022-08-3112165813core:Vehicles2022-08-3112165813core:FurnitureFittings2022-08-3112165813core:OfficeEquipment2022-08-3112165813core:AfterOneYear2022-08-3112165813core:WithinOneYear2022-08-3112165813core:ListedExchangeTraded2022-08-3112165813core:UnlistedNon-exchangeTraded2022-08-3112165813core:ShareCapital2022-08-3112165813core:SharePremium2022-08-3112165813core:RevaluationReserve2022-08-3112165813core:OtherReservesSubtotal2022-08-3112165813core:RetainedEarningsAccumulatedLosses2022-08-3112165813core:NetGoodwill2021-09-0112165813core:IntangibleAssetsOtherThanGoodwill2021-09-0112165813core:LandBuildings2021-09-0112165813core:PlantMachinery2021-09-0112165813core:Vehicles2021-09-0112165813core:FurnitureFittings2021-09-0112165813core:OfficeEquipment2021-09-0112165813core:AfterOneYear2021-09-0112165813core:WithinOneYear2021-09-0112165813core:ListedExchangeTraded2021-09-0112165813core:UnlistedNon-exchangeTraded2021-09-0112165813core:ShareCapital2021-09-0112165813core:SharePremium2021-09-0112165813core:RevaluationReserve2021-09-0112165813core:OtherReservesSubtotal2021-09-0112165813core:RetainedEarningsAccumulatedLosses2021-09-0112165813core:AfterOneYear2022-09-012023-08-3112165813core:WithinOneYear2022-09-012023-08-3112165813core:Non-currentFinancialInstrumentscore:CostValuation2022-09-012023-08-3112165813core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-09-012023-08-3112165813core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-09-012023-08-3112165813core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-09-012023-08-3112165813core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-09-012023-08-3112165813core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-09-012023-08-3112165813core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-09-012023-08-3112165813core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-09-012023-08-3112165813core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-09-012023-08-3112165813core:Non-currentFinancialInstrumentscore:CostValuation2023-08-3112165813core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-08-3112165813core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-08-3112165813core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-08-3112165813core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-08-3112165813core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-08-3112165813core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-08-3112165813core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-08-3112165813core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-08-3112165813core:Non-currentFinancialInstrumentscore:CostValuation2022-08-3112165813core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-08-3112165813core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-08-3112165813core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-08-3112165813core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-08-3112165813core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-08-3112165813core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-08-3112165813core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-08-3112165813core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-08-3112165813bus:Director12022-09-012023-08-31121658131bus:Director12022-09-01121658131bus:Director12022-09-012023-08-31121658131bus:Director12023-08-31121658132022-09-01121658132022-09-012023-08-31121658132023-08-31

OKBEL TECHNOLOGIES LTD

(formerly TUTORSWORK LTD)

Registered Number
12165813
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

OKBEL TECHNOLOGIES LTD
Company Information
for the year from 1 September 2022 to 31 August 2023

Director

Erdal Urul

Registered Address

4th Floor Silverstream House
45 Fitzroy Street
Fitzrovia
W1T 6EB

Registered Number

12165813 (England and Wales)
OKBEL TECHNOLOGIES LTD
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors366,447151,897
Cash at bank and on hand36778,311
66,814230,208
Creditors amounts falling due within one year4(48,020)(106,195)
Net current assets (liabilities)18,794124,013
Total assets less current liabilities18,794124,013
Net assets18,794124,013
Capital and reserves
Called up share capital11
Profit and loss account18,793124,012
Shareholders' funds18,794124,013
The financial statements were approved and authorised for issue by the Director on 30 July 2024, and are signed on its behalf by:
Erdal Urul
Director
Registered Company No. 12165813
OKBEL TECHNOLOGIES LTD
Notes to the Financial Statements
for the year ended 31 August 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20232022
Average number of employees during the year00
3.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables-62,080
Amounts owed by associates and joint ventures / participating interests66,15528,284
Other debtors29261,533
Total66,447151,897
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
4.Creditors: amounts due within one year

2023

2022

££
Taxation and social security47,02050,006
Accrued liabilities and deferred income1,00056,189
Total48,020106,195
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Erdal Urul61,53332,25893,7910
61,53332,25893,7910
The loan is payable on demand and interest is charged at HMRC's recommended rate.
6.Related party transactions
During the year, the company advanced £32,257.62 to Erdal Urul, director and 100% shareholder of Okbel Technologies Ltd. The loan was repaid in full at year end (2022: £61,533.39). An amount of £69,416.39 was paid to Lexri Ltd, a company under common control, with 100% shares held by Erdal Urul. The amount relates to Direct Expenses and Contractors which were paid through Lexri Ltd, but for which the costs relate to Okbel Technologies Ltd. These were accounted for against the company's loan account.  On 31 August 2023, Lexri Ltd owes an amount of £32,196.30 to Okbel Technologies Ltd (2022: £24,986.77). Also, Workgate Global Ltd a company owned by Mehmet Ali Urul a close family member of Erdal Urul owe Okbel Technologies Ltd £300.39 (2022:£188.95). On 31 August 2023, the following companies under common control, with 100% of shares held by Erdal Urul owe Okbel Technologies Ltd: Global Support and Services Ltd £1,949.20 (2022: £1,899.52); Applywise Ltd £31,708.75 (2022: £1,208.75). No interest is charged on loans owed from connected companies and the loans are payable on demand.