Registered number
10425578
Ouno Plus Ltd
Filleted Accounts
31 October 2023
Ouno Plus Ltd
Registered number: 10425578
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 47,817 88,263
Current assets
Debtors 4 89,802 16,487
Cash at bank and in hand (9,220) 57,760
80,582 74,247
Creditors: amounts falling due within one year 5 (61,079) (79,394)
Net current assets/(liabilities) 19,503 (5,147)
Total assets less current liabilities 67,320 83,116
Creditors: amounts falling due after more than one year 6 (41,209) (80,614)
Net assets 26,111 2,502
Capital and reserves
Called up share capital 450 450
Profit and loss account 25,661 2,052
Shareholders' funds 26,111 2,502
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Alan George Throughgood
Director
Approved by the board on 31 October 2024
Ouno Plus Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 2,102 226,092 228,194
At 31 October 2023 2,102 231,284 233,386
Depreciation
At 1 November 2022 1,423 138,508 139,931
Charge for the year 420 45,218 45,638
At 31 October 2023 1,843 183,726 185,569
Net book value
At 31 October 2023 259 47,558 47,817
At 31 October 2022 679 87,584 88,263
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 73,315 -
Other debtors 16,487 16,487
89,802 16,487
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 6,600
Director Current Account 12,543 -
Obligations under finance lease and hire purchase contracts 22,531 41,598
Trade creditors 257 -
Taxation and social security costs 16,226 21,674
Other creditors 9,522 9,522
61,079 79,394
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 41,209 42,483
Obligations under finance lease and hire purchase contracts - 38,131
41,209 80,614
7 Other information
Ouno Plus Ltd is a private company limited by shares and incorporated in England. Its registered office is:
72 Badminton Road
London
SW12 8BL
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