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Registered Number: 10726371
England and Wales

 

 

 

OZVFX LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of OZVFX Limited 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 OZVFX Limited for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of OZVFX Limited , as a body, in accordance with the terms of our engagement letter dated 13 April 2017. Our work has been undertaken solely to prepare for your approval the accounts of OZVFX Limited and state those matters that we have agreed to state to the Board of Directors of OZVFX Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OZVFX Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that OZVFX Limited 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 OZVFX Limited . You consider that OZVFX Limited 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 OZVFX Limited . 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
29 February 2024



....................................................

FDCA Limited

16 Saberton Close
St Albans
AL3 7DS
29 November 2024
1
 
 
Notes
 
29/02/2024
£
  28/02/2023
£
Current assets      
Debtors: amounts falling due within one year 40,609    48,115 
Cash at bank and in hand 8,696    1,739 
49,305    49,854 
Creditors: amount falling due within one year (13,917)   (15,798)
Net current assets 35,388    34,056 
 
Total assets less current liabilities 35,388    34,056 
Creditors: amount falling due after more than one year (4,656)   (6,643)
Net assets 30,732    27,413 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 30,632    27,313 
Shareholders' funds 30,732    27,413 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 29 November 2024 and were signed by:


-------------------------------
Ozgur Yigit
Director
2
General Information
OZVFX Limited is a private company, limited by shares, domiciled in England and Wales, registration number 10726371.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, of each asset evenly over its expected useful lives as follows:
Plant and machinery         over 2 years
Fixtures and fittings           over 2 years
Fixtures and Fittings 3 Straight Line
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 March 2023 2,626    2,626 
Additions  
Disposals  
At 29 February 2024 2,626    2,626 
Amortisation
At 01 March 2023 2,626    2,626 
Charge for year  
On disposals  
At 29 February 2024 2,626    2,626 
Net book values
At 29 February 2024  
At 28 February 2023  


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 March 2023 566    566 
Additions  
Disposals  
At 29 February 2024 566    566 
Depreciation
At 01 March 2023 566    566 
Charge for year  
On disposals  
At 29 February 2024 566    566 
Net book values
Closing balance as at 29 February 2024  
Opening balance as at 01 March 2023  


5.

Share Capital

Authorised
100 Ordinary shares of £1.00 each
Allotted, called up and fully paid
29/02/2024
£
  28/02/2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

3