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OI! LICENSING LTD

Registered Number
11284935
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

OI! LICENSING LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Jim Field
Claire Gray
Kes Gray

Registered Address

Unit 3, Upp Hall Farm
Salmons Lane
Colchester
CO6 1RY

Registered Number

11284935 (England and Wales)
OI! LICENSING LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors31,1441,307
Cash at bank and on hand23,74217,379
24,88618,686
Creditors amounts falling due within one year4(4,618)(3,192)
Net current assets (liabilities)20,26815,494
Total assets less current liabilities20,26815,494
Net assets20,26815,494
Capital and reserves
Called up share capital100100
Profit and loss account20,16815,394
Shareholders' funds20,26815,494
The financial statements were approved and authorised for issue by the Board of Directors on 19 February 2025, and are signed on its behalf by:
Claire Gray
Director
Registered Company No. 11284935
OI! LICENSING LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover comprises the fair value of the consideration received or receivable for the sale of goods/provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Trade and other debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year33
3.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-125
Other debtors324-
Prepayments and accrued income8201,182
Total1,1441,307
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security11,026
Accrued liabilities and deferred income4,6172,166
Total4,6183,192
5.Share capital
The company has issued share capital of 100 ordinary shares of £1 each. There have been no changes in the year.