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REGISTERED NUMBER: 05316468 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2023

for

Dr Ozuzu Ltd

Dr Ozuzu Ltd (Registered number: 05316468)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Dr Ozuzu Ltd (Registered number: 05316468)

Balance Sheet
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,699 8,027
Investment property 5 1,249,443 1,224,443
1,254,142 1,232,470

CURRENT ASSETS
Cash at bank 204,904 183,643

CREDITORS
Amounts falling due within one year 6 871,633 861,520
NET CURRENT LIABILITIES (666,729 ) (677,877 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

587,413

554,593

PROVISIONS FOR LIABILITIES 30,068 26,190
NET ASSETS 557,345 528,403

CAPITAL AND RESERVES
Called up share capital 7 90 90
Fair value reserve 200,349 229,226
Retained earnings 356,906 299,087
SHAREHOLDERS' FUNDS 557,345 528,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 11th September 2024 and were signed by:




Dr G E Ozuzu - Director


Dr Ozuzu Ltd (Registered number: 05316468)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. COMPANY INFORMATION

Dr Ozuzu Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05316468

Registered office: The Lexicon
Mount Street
Manchester
M2 5NT

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Dr Ozuzu Ltd (Registered number: 05316468)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 8,662 4,649 13,311
DEPRECIATION
At 1st January 2023 4,331 953 5,284
Charge for year 2,166 1,162 3,328
At 31st December 2023 6,497 2,115 8,612
NET BOOK VALUE
At 31st December 2023 2,165 2,534 4,699
At 31st December 2022 4,331 3,696 8,027

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2023 1,224,443
Revaluations 25,000
At 31st December 2023 1,249,443
NET BOOK VALUE
At 31st December 2023 1,249,443
At 31st December 2022 1,224,443

Investment properties comprises of 5 properties. In accordance with FRS102 the costs of obtaining an external valuation were considered to be undue for the company. Therefore, fair value has been estimated by the director on the basis of current market value, from his knowledge of similar properties in the same location..

Fair value at 31st December 2023 is represented by:
£   
Valuation in 2015 1,103,510
Valuation in 2016 21,967
Valuation in 2017 (29,586 )
Valuation in 2020 127,389
Valuation in 2021 83,651
Valuation in 2022 (82,488 )
Valuation in 2023 25,000
1,249,443

Dr Ozuzu Ltd (Registered number: 05316468)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors - 1
Tax 3,370 3,047
Directors' current accounts 868,263 858,472
871,633 861,520

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
50 Ordinary A £1 50 50
10 Ordinary B £1 10 10
30 Ordinary C £1 30 30
90 90

The A Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

The B and C Shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

The A, B and C Shares rank pari passu in respect of dividend and capital distribution rights.

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2023 and 31st December 2022:

31.12.23 31.12.22
£    £   
Dr G E Ozuzu
Balance outstanding at start of year (858,473 ) (853,899 )
Amounts advanced 7,134 7,844
Amounts repaid (16,924 ) (12,418 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (868,263 ) (858,473 )

The loan is repayable on demand and no interest was charged during the year.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr Ozuzu by virtue of holding 100% of the voting share capital.