Company Registration No. 08533285 (England and Wales)
OAF Associates Limited
Unaudited accounts
for the year ended 31 May 2024
OAF Associates Limited
Unaudited accounts
Contents
OAF Associates Limited
Company Information
for the year ended 31 May 2024
Directors
Ayokunnu O J Olaogun
Olufolake A R Olaogun
Secretary
Ayokunnu Olaogun
Company Number
08533285 (England and Wales)
Registered Office
20 BILL THOMAS WAY
ROWLEY REGIS
BIRMINGHAM
WEST MIDLANDS
B65 9AB
UNITED KINGDOM
Accountants
AMB Accountants & Consultancy Services Ltd
3 St Clements Road
Greenhithe
Kent
DA9 9FG
OAF Associates Limited
Statement of financial position
as at 31 May 2024
Tangible assets
36,793
38,043
Cash at bank and in hand
2,453
9,113
Creditors: amounts falling due within one year
(38,586)
(34,050)
Net current liabilities
(36,133)
(24,937)
Total assets less current liabilities
6,760
18,156
Creditors: amounts falling due after more than one year
(48,395)
(56,111)
Net liabilities
(41,635)
(37,955)
Called up share capital
100
100
Profit and loss account
(41,735)
(38,055)
Shareholders' funds
(41,635)
(37,955)
For the year ending 31 May 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 directors acknowledge their 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 of Directors and authorised for issue on 15 February 2025 and were signed on its behalf by
Ayokunnu O J Olaogun
Director
Company Registration No. 08533285
OAF Associates Limited
Notes to the Accounts
for the year ended 31 May 2024
OAF Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 08533285. The registered office is 20 BILL THOMAS WAY, ROWLEY REGIS, BIRMINGHAM, WEST MIDLANDS, B65 9AB, UNITED KINGDOM.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2023
59,797
8,969
68,766
At 31 May 2024
59,797
10,819
70,616
At 1 June 2023
22,043
8,680
30,723
Charge for the year
2,850
250
3,100
At 31 May 2024
24,893
8,930
33,823
At 31 May 2024
34,904
1,889
36,793
At 31 May 2023
37,754
289
38,043
OAF Associates Limited
Notes to the Accounts
for the year ended 31 May 2024
5
Investments
Other investments
Valuation at 1 June 2023
5,050
Valuation at 31 May 2024
6,100
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
36,534
34,050
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
31,488
36,565
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).