Ojo Developments Ltd 11102121 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is 41100, 68100 Digita Accounts Production Advanced 6.30.9574.0 true true 11102121 2022-11-01 2023-10-31 11102121 2023-10-31 11102121 core:RetainedEarningsAccumulatedLosses 2023-10-31 11102121 core:ShareCapital 2023-10-31 11102121 core:CurrentFinancialInstruments 2023-10-31 11102121 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 11102121 core:FurnitureFittingsToolsEquipment 2023-10-31 11102121 bus:SmallEntities 2022-11-01 2023-10-31 11102121 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 11102121 bus:FilletedAccounts 2022-11-01 2023-10-31 11102121 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 11102121 bus:RegisteredOffice 2022-11-01 2023-10-31 11102121 bus:Director1 2022-11-01 2023-10-31 11102121 bus:Director2 2022-11-01 2023-10-31 11102121 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11102121 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 11102121 core:OfficeEquipment 2022-11-01 2023-10-31 11102121 core:PlantMachinery 2022-11-01 2023-10-31 11102121 countries:EnglandWales 2022-11-01 2023-10-31 11102121 2022-10-31 11102121 core:FurnitureFittingsToolsEquipment 2022-10-31 11102121 2021-11-01 2022-10-31 11102121 2022-10-31 11102121 core:RetainedEarningsAccumulatedLosses 2022-10-31 11102121 core:ShareCapital 2022-10-31 11102121 core:CurrentFinancialInstruments 2022-10-31 11102121 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 11102121 core:FurnitureFittingsToolsEquipment 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 11102121

Ojo Developments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Ojo Developments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Ojo Developments Ltd

Company Information

Directors

Mr Oliver Matthew Jones

Miss Felicity Emily Allen

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Ojo Developments Ltd

(Registration number: 11102121)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

560

862

Current assets

 

Stocks

5

733,161

603,395

Debtors

6

797

7,908

Cash at bank and in hand

 

585

80,870

 

734,543

692,173

Creditors: Amounts falling due within one year

7

(804,938)

(720,072)

Net current liabilities

 

(70,395)

(27,899)

Net liabilities

 

(69,835)

(27,037)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(70,835)

(28,037)

Shareholders' deficit

 

(69,835)

(27,037)

For the financial 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.

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.

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 19 July 2024 and signed on its behalf by:
 

 

Ojo Developments Ltd

(Registration number: 11102121)
Balance Sheet as at 31 October 2023 (continued)

.........................................
Mr Oliver Matthew Jones
Director

.........................................
Miss Felicity Emily Allen
Director

 

Ojo Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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 19 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 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.

 

Ojo Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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

Plant and machinery

Straight line 25%

Office equipment

Straight line 25%

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Ojo Developments Ltd

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

3

Staff numbers

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

 

Ojo Developments Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

1,738

1,738

At 31 October 2023

1,738

1,738

Depreciation

At 1 November 2022

876

876

Charge for the year

302

302

At 31 October 2023

1,178

1,178

Carrying amount

At 31 October 2023

560

560

At 31 October 2022

862

862

5

Stocks

2023
£

2022
£

Work in progress

733,161

603,395

6

Debtors

Current

2023
£

2022
£

Prepayments

797

821

Other debtors

-

7,087

 

797

7,908

7

Creditors

Creditors: amounts falling due within one year

 

Ojo Developments Ltd

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

7

Creditors (continued)

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

737,000

672,000

Trade creditors

 

34

26

Amounts owed to group undertakings and undertakings in which the company has a participating interest

30,667

32,650

Taxation and social security

 

-

380

Accruals and deferred income

 

28,771

15,016

Other creditors

 

8,466

-

 

804,938

720,072

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

737,000

672,000