Registration number:
Ouninpohja Ltd
for the Period from 15 December 2023 to 31 December 2024
Ouninpohja Ltd
(Registration number: SC792554)
Balance Sheet as at 31 December 2024
Note |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
4 |
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Retained earnings |
1 |
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Shareholders' funds |
5 |
For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Ouninpohja Ltd
Notes to the Unaudited Financial Statements for the Period from 15 December 2023 to 31 December 2024
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis.
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales, 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.
Ouninpohja Ltd
Notes to the Unaudited Financial Statements for the Period from 15 December 2023 to 31 December 2024
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office Equipment |
25% Straight Line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade creditors are recognised at the transaction price.
Ouninpohja Ltd
Notes to the Unaudited Financial Statements for the Period from 15 December 2023 to 31 December 2024
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Ouninpohja Ltd
Notes to the Unaudited Financial Statements for the Period from 15 December 2023 to 31 December 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 December 2024 |
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Depreciation |
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Charge for the period |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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Creditors |
Creditors: amounts falling due within one year
2024 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
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No. |
£ |
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|
2 |
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|
1 |
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|
1 |
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Ouninpohja Ltd
Notes to the Unaudited Financial Statements for the Period from 15 December 2023 to 31 December 2024
New shares allotted
During the period 2 |
During the period 1 |
During the period 1 |
Dividends |
Interim dividends paid
2024 |
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Interim dividend of £ |
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Interim dividend of £ |
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Financial commitments |
The total amount of other financial commitments not provided in the financial statements was £260.
The above commitment relates to the rent of the business premises and is on a one month rolling contract.
Related party transactions |
At the balance sheet date, the company owed Mr P Allen, director £28,523 and Mr A Lindsay, director £12,554. These loans are interest free and there are no fixed terms for repayment.
Ouninpohja Ltd
Notes to the Unaudited Financial Statements for the Period from 15 December 2023 to 31 December 2024
Ultimate controlling party |
The ultimate controlling party is