2023-07-012024-06-302024-06-30false11751177Oonagi Trading 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Oonagi Trading Limited

Registered Number
11751177
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

Oonagi Trading Limited
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

Haroon Gulam Ibrahim

Registered Address

42 High Street, Wanstead
London
E11 2RJ

Registered Number

11751177 (England and Wales)
Oonagi Trading Limited
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,04124,717
3,04124,717
Current assets
Debtors4343,191261,702
Cash at bank and on hand23,94725,314
367,138287,016
Creditors amounts falling due within one year5(222,880)(109,997)
Net current assets (liabilities)144,258177,019
Total assets less current liabilities147,299201,736
Creditors amounts falling due after one year6(124,620)(170,270)
Provisions for liabilities7(578)(4,751)
Net assets22,10126,715
Capital and reserves
Called up share capital100100
Profit and loss account22,00126,615
Shareholders' funds22,10126,715
The financial statements were approved and authorised for issue by the Director on 6 September 2024, and are signed on its behalf by:
Haroon Gulam Ibrahim
Director
Registered Company No. 11751177
Oonagi Trading Limited
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
Oonagi Trading Limited 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.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant and machinery - 25% on cost Fixtures and fittings - 20% on cost Computer equipment - 33% on cost
2.Average number of employees

20242023
Average number of employees during the year3135
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 July 2391,33597,26512,328200,928
At 30 June 2491,33597,26512,328200,928
Depreciation and impairment
At 01 July 2386,53477,81211,865176,211
Charge for year1,80319,45342021,676
At 30 June 2488,33797,26512,285197,887
Net book value
At 30 June 242,998-433,041
At 30 June 234,80119,45346324,717
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables10,7525,760
Other debtors331,689255,267
Prepayments and accrued income750675
Total343,191261,702
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.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables81,64121,273
Bank borrowings and overdrafts43,39347,249
Amounts owed to related parties14,1397,848
Taxation and social security43,70716,626
Other creditors40,000-
Accrued liabilities and deferred income-17,001
Total222,880109,997
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.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts124,620170,270
Total124,620170,270
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5784,751
Total5784,751
8.Other commitments
The Company has a yearly commitment for paying rent to the lessor in the amount for £ 55,000.