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Registered Number: 08359050
England and Wales

 

 

 

OASIS ACCOUNTANTS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 12,971    16,822 
Investments 4 1,305,020    1,280,530 
1,317,991    1,297,352 
Current assets      
Debtors: amounts falling due within one year 258,213    178,855 
Cash at bank and in hand 172,751    164,663 
430,964    343,518 
Creditors: amount falling due within one year (316,776)   (295,825)
Net current assets 114,188    47,693 
 
Total assets less current liabilities 1,432,179    1,345,045 
Creditors: amount falling due after more than one year (284,406)   (376,794)
Net assets 1,147,773    968,251 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 1,147,673    968,151 
Shareholders' funds 1,147,773    968,251 
 


For the year ended 31 March 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 27 December 2024 and were signed by:


-------------------------------
Shankar Devarashetty
Director
1
General Information
Oasis Accountants Limited is a private company, limited by shares, registered in England and Wales, registration number 08359050, registration address Office Gold, Building 3, Chiswick Park, 566 Chiswick High Road, London, W4 5YA.

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.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of services provided by the company, net of value added tax and trade discounts.
Cost of sales
Subcontracting cost of £586,601.00 (2022: £354,638.43) represent the amount paid to Oasis accountants Pvt Ltd which is an associate company.
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 companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

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, over their expected useful lives on the following basis:
Computer Equipment 20% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 8).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 April 2023 32,492    32,492 
Additions 2,455    2,455 
Disposals  
At 31 March 2024 34,947    34,947 
Depreciation
At 01 April 2023 15,670    15,670 
Charge for year 6,306    6,306 
On disposals  
At 31 March 2024 21,976    21,976 
Net book values
Closing balance as at 31 March 2024 12,971    12,971 
Opening balance as at 01 April 2023 16,822    16,822 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2023 1,280,530    1,280,530 
Additions 156,990    156,990 
Transfer to/from tangible fixed assets  
Disposals (132,500)   (132,500)
At 31 March 2024 1,305,020    1,305,020 

5.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

6.

Ultimate Control

The ultimate controlling interest is held by Mr Shankar Devarashetty, the director and 100% shareholder of the company.
7.

Directors Current Account

The Overdrawn balance in Directors Current Account of £9,970.70 which is repaid by the director within 9 months from the balance sheet date.

2