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Company No: 09532421 (England and Wales)

OGI LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

OGI LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

OGI LIMITED

BALANCE SHEET

As at 30 April 2024
OGI LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 267 0
267 0
Current assets
Debtors 4 0 8,960
Cash at bank and in hand 42,006 34,375
42,006 43,335
Creditors: amounts falling due within one year 5 ( 40,225) ( 33,267)
Net current assets 1,781 10,068
Total assets less current liabilities 2,048 10,068
Net assets 2,048 10,068
Capital and reserves
Called-up share capital 6 50 50
Profit and loss account 1,998 10,018
Total shareholders' funds 2,048 10,068

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of OGI Limited (registered number: 09532421) were approved and authorised for issue by the Board of Directors on 21 November 2024. They were signed on its behalf by:

Mr C Whitaker
Director
Mrs C I Whitaker
Director
OGI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
OGI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

OGI Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for production services provided in the normal course of business, and is shown net of VAT.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 May 2023 500 500
Additions 400 400
At 30 April 2024 900 900
Accumulated depreciation
At 01 May 2023 500 500
Charge for the financial year 133 133
At 30 April 2024 633 633
Net book value
At 30 April 2024 267 267
At 30 April 2023 0 0

4. Debtors

2024 2023
£ £
Other debtors 0 8,960

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 36,152 24,367
Other creditors 4,073 8,900
40,225 33,267

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
22 A Ordinary shares of £ 1.00 each 22 22
22 B Ordinary shares of £ 1.00 each 22 22
2 C Ordinary shares of £ 1.00 each 2 2
2 D Ordinary shares of £ 1.00 each 2 2
2 Ordinary other shares of £ 1.00 each 2 2
50 50

7. Profit and loss reserves

Retained earnings represents accumulated comprehensive income for the year and prior periods less dividends paid.