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Registration number: 11076692

OGL Advisors Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

OGL Advisors Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 7

 

OGL Advisors Limited

Company Information

Directors

Mr Neil Law Weeks

Mr Matthew Oliver Carman

Registered office

OGL Advisors Limited
5th Floor
2 Portman Street
London
W1H 6DU

 

OGL Advisors Limited

(Registration number: 11076692)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,201

3,358

Current assets

 

Debtors

5

60,340

91,602

Cash at bank and in hand

 

269,788

48,467

 

330,128

140,069

Creditors: Amounts falling due within one year

6

(163,303)

(17,028)

Net current assets

 

166,825

123,041

Net assets

 

173,026

126,399

Capital and reserves

 

Called up share capital

1

1

Retained earnings

173,025

126,398

Shareholders' funds

 

173,026

126,399

For the financial year ending 31 December 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 23 September 2024 and signed on its behalf by:
 

 

OGL Advisors Limited

(Registration number: 11076692)
Balance Sheet as at 31 December 2023

.........................................
Mr Neil Law Weeks
Director

.........................................
Mr Matthew Oliver Carman
Director

 

OGL Advisors Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

1

126,398

126,399

Profit for the year

-

46,627

46,627

At 31 December 2023

1

173,025

173,026

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

1

95,120

95,121

Profit for the year

-

31,278

31,278

At 31 December 2022

1

126,398

126,399

 

OGL Advisors Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
OGL Advisors Limited
5th Floor
2 Portman Street
London
W1H 6DU

These financial statements were authorised for issue by the Board on 23 September 2024.

2

Accounting policies

Summary of significant accounting policies

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.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue on a straight-line basis over the specified period.

Deferred income arises as clients pay for services in advance of provision of those services.

Tax

The tax expense for the period comprises current 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 country where the company operates and generates taxable income.

 

OGL Advisors Limited

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

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 recgonised in the 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.

The effect of deferred tax in respect of this company is immaterial for disclosure.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets on a straight line basis over their estimated useful life, as follows:

Asset class

Depreciation method and rate

Furniture, fixtures and equipment

20% per annum

Cash and cash equivalents

Cash comprises cash at bank.

Trade debtors

Trade debtors are amounts due from clients for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are recognised at the transaction price.

Leases

Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Pensions

The company operates a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2022 - 8).

 

OGL Advisors Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

11,983

11,983

Additions

5,630

5,630

At 31 December 2023

17,613

17,613

Depreciation

At 1 January 2023

8,625

8,625

Charge for the year

2,787

2,787

At 31 December 2023

11,412

11,412

Carrying amount

At 31 December 2023

6,201

6,201

At 31 December 2022

3,358

3,358

5

Debtors

Current

2023
£

2022
£

Trade debtors

55,000

87,199

Prepayments

5,339

4,402

Other debtors

1

1

 

60,340

91,602

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

115,445

-

Taxation and social security

12,499

8,167

Other creditors

35,359

8,861

163,303

17,028