Registered number
14738352
OAAK LTD
Filleted Accounts
31 March 2024
OAAK LTD
Registered number: 14738352
Balance Sheet
as at 31 March 2024
Notes 2024
£
Fixed assets
Tangible assets 3 1,350
Current assets
Stocks -
Cash at bank and in hand 60
60
Creditors: amounts falling due within one year 4 (2,419)
Net current liabilities (2,359)
Net liabilities (1,009)
Capital and reserves
Called up share capital 100
Profit and loss account (1,109)
Shareholder's funds (1,009)
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.
Asamoah Ohene-Agyei
Director
Approved by the board on 17 January 2025
OAAK LTD
Notes to the Accounts
for the year ended 31 March 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:
Computer & other equipment 25% SL
Furniture & fittings 25% SL
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.
2 Employees 2024
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Computer & other equipment Furniture & fittings Total
£ £ £
Cost
Additions 1,200 600 1,800
At 31 March 2024 1,200 600 1,800
Depreciation
Charge for the year 300 150 450
On disposals - - -
At 31 March 2024 300 150 450
Net book value
At 31 March 2024 900 450 1,350
4 Creditors: amounts falling due within one year 2024
£
Other creditors 2,419
5 Other information
OAAK LTD is a private company limited by shares and incorporated in England. Its registered office is:
18 Sandown Avenue
Dagenham
RM10 8XD
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