Registration number:
OGL Advisors Limited
for the Year Ended 31 December 2023
OGL Advisors Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
OGL Advisors Limited
Company Information
Directors |
Mr Neil Law Weeks Mr Matthew Oliver Carman |
Registered office |
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OGL Advisors Limited
(Registration number: 11076692)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
173,025 |
126,398 |
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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:
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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
OGL Advisors Limited
(Registration number: 11076692)
Balance Sheet as at 31 December 2023
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OGL Advisors Limited
Statement of Changes in Equity for the Year Ended 31 December 2023
Share capital |
Retained earnings |
Total |
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At 1 January 2023 |
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Profit for the year |
- |
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At 31 December 2023 |
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Share capital |
Retained earnings |
Total |
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At 1 January 2022 |
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Profit for the year |
- |
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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
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
OGL Advisors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
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- |
Taxation and social security |
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Other creditors |
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