Registered number
13207937
OZ DICLE UK LIMITED
Filleted Accounts
29 February 2024
OZ DICLE UK LIMITED
Registered number: 13207937
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 46,669 51,853
46,669 51,853
Current assets
Stocks 39,792 32,577
Debtors 4 100 100
Cash at bank and in hand 340 15,436
40,232 48,113
Creditors: amounts falling due within one year 5 (27,435) (58,642)
Net current assets/(liabilities) 12,797 (10,529)
Total assets less current liabilities 59,466 41,324
Creditors: amounts falling due after more than one year 6 (44,178) (25,099)
Net assets 15,288 16,225
Capital and reserves
Called up share capital 100 100
Share premium - -
Revaluation reserve - -
Profit and loss account 15,188 16,125
Shareholder's funds 15,288 16,225
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Zulfi Ozoglu
Director
Approved by the board on 8 November 2024
OZ DICLE UK LIMITED
Notes to the Accounts
for the year ended 29 February 2024
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
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 - 4,138 53,475 57,613
At 29 February 2024 - 4,138 53,475 57,613
Depreciation
At 1 March 2023 - 413 5,347 5,760
Charge for the year - 372 4,812 5,184
At 29 February 2024 - 785 10,159 10,944
Net book value
At 29 February 2024 - 3,353 43,316 46,669
At 28 February 2023 - 3,725 48,128 51,853
4 Debtors 2024 2023
£ £
Called up share capital 100 100
100 100
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,295 -
Trade creditors 12,277 16,191
Taxation and social security costs (1,048) 2,298
Other creditors 6,911 40,153
27,435 58,642
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 44,178 25,099
44,178 25,099
7 Controlling party
Zulfi Ozoglu
8 Other information
OZ DICLE UK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Virosa Cottage Hoe Lane
Nazeing
Waltham Abbey
England
EN9 2RN
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