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Registration number: 11754279

Oddyod Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Oddyod Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Oddyod Ltd

Company Information

Director

Mr Georgios Roussos

Registered office

65 London Wall
London
EC2M 5TU

Accountants

1Office Group Ltd
65 London Wall
London
EC2M 5TU

 

Oddyod Ltd

(Registration number: 11754279)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

804

1,395

Current assets

 

Debtors

5

423

8,649

Cash at bank and in hand

 

16,370

13,435

 

16,793

22,084

Creditors: Amounts falling due within one year

6

(1,789)

(3,384)

Net current assets

 

15,004

18,700

Total assets less current liabilities

 

15,808

20,095

Creditors: Amounts falling due after more than one year

6

(5,000)

(10,000)

Provisions for liabilities

(153)

(265)

Net assets

 

10,655

9,830

Capital and reserves

 

Called up share capital

1

1

Retained earnings

10,654

9,829

Shareholders' funds

 

10,655

9,830

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 October 2024
 

 

Oddyod Ltd

(Registration number: 11754279)
Balance Sheet as at 31 January 2024

.........................................
Mr Georgios Roussos
Director

 

Oddyod Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
65 London Wall
London
EC2M 5TU

These financial statements were authorised for issue by the director on 9 October 2024.

2

Accounting policies

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.

The presentational currency of the financial statements is pound sterling (£).


Covid-19
Covid-19 is not expected to have a significant impact on the entity. Management has determined that there is no material uncertainty that casts doubt on the entity’s ability to continue as a going concern. It expects that Covid-19 might have some impact, though not significant, for example, in relation to expected future performance, or the effects on some future asset valuations.
 

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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Oddyod Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

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, using the straight-line method:

Depreciation is provided on the following basis:

Computer equipment

Straight line over 3 years

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.

 

Oddyod Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Oddyod Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

7,720

7,720

Disposals

(1,167)

(1,167)

At 31 January 2024

6,553

6,553

Depreciation

At 1 February 2023

6,325

6,325

Charge for the year

591

591

Eliminated on disposal

(1,167)

(1,167)

At 31 January 2024

5,749

5,749

Carrying amount

At 31 January 2024

804

804

At 31 January 2023

1,395

1,395

5

Debtors

2024
£

2023
£

Other debtors

423

8,649

423

8,649

Current

2024
£

2023
£

Other debtors

423

8,649

 

423

8,649

 

Oddyod Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

(101)

-

Taxation and social security

1,446

2,844

Accruals and deferred income

444

540

1,789

3,384

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

5,000

10,000

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

5,000

10,000

8

Dividends

2024

2023

£

£

Interim dividend of £5,000.00 (2023 - £10,000.00) per ordinary share

5,000

10,000