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Registered Number: 08712659


 

 

 


Abridged Accounts

for the year ended 31 October 2023

for

ONKHO LTD

Chartered Accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Onkho Ltd for the year ended 31 October 2023.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Onkho Ltd for the year ended 31 October 2023 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of Onkho Ltd, as a body, in accordance with the terms of our engagement letter dated 01 January 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Onkho Ltd and state those matters that we have agreed to state to the Board of Directors of Onkho Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Onkho Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Onkho Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Onkho Ltd. You consider that Onkho Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Onkho Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements for the year ended 31 October 2023.




....................................................
KWSR & CO LTD
136 Merton High Street
London
SW19 1BA
26 July 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 420,869    420,869 
Tangible fixed assets 4 1,728    2,160 
422,597    423,029 
Current assets      
Debtors: amounts falling due within one year 1,890    5,202 
Cash at bank and in hand 138,416    16,771 
140,306    21,973 
Creditors: amount falling due within one year (18,400)   (12,134)
Net current assets 121,906    9,839 
 
Total assets less current liabilities 544,503    432,868 
Net assets 544,503    432,868 
 

Capital and reserves
     
Called up share capital 5 297    289 
Share premium account 800,569    650,486 
Profit and loss account (256,363)   (217,907)
Shareholders' funds 544,503    432,868 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 26 July 2024 and were signed on its behalf by:


-------------------------------
Emanur Rahman
Director
2
General Information
Onkho Ltd is a private company, limited by shares, registered in , registration number 08712659, registration address 136 Merton High Street, Wimbledon, London, SW19 1BA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard) and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 0).
3.

Intangible fixed assets

Cost Software License   Total
  £   £
At 01 November 2022 420,869    420,869 
Additions  
Disposals  
At 31 October 2023 420,869    420,869 
Amortisation
At 01 November 2022  
Charge for year  
On disposals  
At 31 October 2023  
Net book values
At 31 October 2023 420,869    420,869 
At 31 October 2022 420,869    420,869 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 November 2022 2,160    2,160 
Additions  
Disposals  
At 31 October 2023 2,160    2,160 
Depreciation
At 01 November 2022  
Charge for year 432    432 
On disposals  
At 31 October 2023 432    432 
Net book values
Closing balance as at 31 October 2023 1,728    1,728 
Opening balance as at 01 November 2022 2,160    2,160 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
29,678 Ordinary shares of £0.01 each 297    297 
297    297 

3