VICTOR OKOLO LTD

Company Registration Number:
11623428 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

VICTOR OKOLO LTD

Contents of the Financial Statements

for the Period Ended 31 October 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

VICTOR OKOLO LTD

Company Information

for the Period Ended 31 October 2023




Director: Victor Dumaka Okolo
Registered office: 18
Privet Way
Red Lodge
Bury St. Edmunds
England
IP28 8GQ
Company Registration Number: 11623428 (England and Wales)

VICTOR OKOLO LTD

Directors' Report Period Ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Directors

The directors shown below have held office during the whole of the period from 01 November 2022 to 31 October 2023
Victor Dumaka Okolo

This report was approved by the board of directors on 28 October 2024
And Signed On Behalf Of The Board By:

Name: Victor Dumaka Okolo
Status: Director

VICTOR OKOLO LTD

Profit and Loss Account

for the Period Ended 31 October 2023


Notes

2023
£

2022
£
Turnover 57,633 40,070
Cost of sales ( 1,357 ) ( 4,059 )
Gross Profit or (Loss) 56,276 36,011
Administrative Expenses ( 26,646 ) ( 22,769 )
Operating Profit or (Loss) 29,630 13,242
Interest Payable and Similar Charges ( 180 ) -
Profit or (Loss) Before Tax 29,450 13,242
Tax on Profit ( 5,603 ) ( 2,525 )
Profit or (Loss) for Period 23,847 10,717

The notes form part of these financial statements

VICTOR OKOLO LTD

Balance sheet

As at 31 October 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 360 400
Total fixed assets: 360 400
Current assets
Debtors: 5 12,500 12,500
Cash at bank and in hand: 2,976 3,709
Total current assets: 15,476 16,209
Creditors: amounts falling due within one year: 6 ( 18,583 ) ( 16,203 )
Net current assets (liabilities): ( 3,107 ) 6
Total assets less current liabilities: ( 2,747 ) 406
Total net assets (liabilities): ( 2,747 ) 406

The notes form part of these financial statements

VICTOR OKOLO LTD

Balance sheet continued

As at 31 October 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: ( 2,847 ) 306
Shareholders funds: ( 2,747 ) 406

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 28 October 2024
And Signed On Behalf Of The Board By:

Name: Victor Dumaka Okolo
Status: Director

The notes form part of these financial statements

VICTOR OKOLO LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

VICTOR OKOLO LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 1 1

VICTOR OKOLO LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 3. Off balance sheet disclosure

    No

VICTOR OKOLO LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Tangible assets

Fixtures & fittings Total
Cost £ £
At 01 November 2022 610 610
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 October 2023 610 610
Depreciation
At 01 November 2022 210 210
Charge for year 40 40
On disposals - -
Other adjustments - -
At 31 October 2023 250 250
Net book value
At 31 October 2023 360 360
At 31 October 2022 400 400

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 10% reducing balance.

VICTOR OKOLO LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Debtors


2023
£

2022
£
Other debtors 12,500 12,500
Total 12,500 12,500

VICTOR OKOLO LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

6.Creditors: amounts falling due within one year note


2023
£

2022
£
Bank loans and overdrafts 10,263 12,063
Taxation and social security 8,234 3,913
Other creditors 86 227
Total 18,583 16,203