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Company Registration No. 10031292 (England and Wales)
OLX TECH LTD unaudited accounts for the year ended 29 February 2024
OLX TECH LTD unaudited accounts Contents
Page
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OLX TECH LTD Company Information for the year ended 29 February 2024
Director
Bryan Munday
Company Number
10031292 (England and Wales)
Registered Office
18 Otley Drive Ilford IG2 6SL
Accountants
Cosmosinc Accountants 115 High street north London London E6 1HZ
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OLX TECH LTD Accountants' report
Accountants' report to the director of OLX TECH LTD on the preparation of the unaudited statutory accounts for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of OLX TECH LTD for the year ended 29 February 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of OLX TECH LTD, as a body, in accordance with the terms of our engagement letter dated 1 November 2022. Our work has been undertaken solely to prepare for your approval the accounts of OLX TECH LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OLX TECH LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that OLX TECH LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of OLX TECH LTD. You consider that OLX TECH 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 accounts of OLX TECH 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 accounts.
Cosmosinc Accountants 115 High street north London London E6 1HZ 31 August 2024
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OLX TECH LTD Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
44,701 
25,014 
Current assets
Cash at bank and in hand
5,492 
2,714 
Creditors: amounts falling due within one year
(15,000)
(10,000)
Net current liabilities
(9,508)
(7,286)
Total assets less current liabilities
35,193 
17,728 
Creditors: amounts falling due after more than one year
(14,000)
(15,450)
Net assets
21,193 
2,278 
Capital and reserves
Profit and loss account
21,193 
2,278 
Shareholders' funds
21,193 
2,278 
For the year ending 29 February 2024 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 November 2024 and were signed on its behalf by
Bryan Munday Director Company Registration No. 10031292
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OLX TECH LTD Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
OLX TECH LTD is a private company, limited by shares, registered in England and Wales, registration number 10031292. The registered office is 18 Otley Drive, Ilford, IG2 6SL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% reducing balance
Computer equipment
15% reducing balance
Presentation currency
The accounts are presented in £ sterling.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
17,695 
1,631 
15,500 
34,826 
Additions
15,540 
- 
7,899 
23,439 
At 29 February 2024
33,235 
1,631 
23,399 
58,265 
Depreciation
At 1 March 2023
810 
747 
8,255 
9,812 
Charge for the year
2,533 
132 
1,087 
3,752 
At 29 February 2024
3,343 
879 
9,342 
13,564 
Net book value
At 29 February 2024
29,892 
752 
14,057 
44,701 
At 28 February 2023
16,885 
884 
7,245 
25,014 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
15,000 
10,000 
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OLX TECH LTD Notes to the Accounts for the year ended 29 February 2024
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
14,000 
15,450 
7
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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