1 June 2023 false No description of principal activity Taxfiler 2024.6 SC698660business:PrivateLimitedCompanyLtd2023-06-012024-05-31 SC6986602023-05-31 SC6986602023-06-012024-05-31 SC698660business:AuditExemptWithAccountantsReport2023-06-012024-05-31 SC698660business:FilletedAccounts2023-06-012024-05-31 SC6986602024-05-31 SC698660business:Director12023-06-012024-05-31 SC698660business:RegisteredOffice2023-06-012024-05-31 SC6986602023-05-31 SC698660core:WithinOneYear2024-05-31 SC698660core:WithinOneYear2023-05-31 SC698660core:AfterOneYear2024-05-31 SC698660core:AfterOneYear2023-05-31 SC698660core:ShareCapitalcore:PreviouslyStatedAmount2024-05-31 SC698660core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 SC698660core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-05-31 SC698660core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 SC698660core:PreviouslyStatedAmount2024-05-31 SC698660core:PreviouslyStatedAmount2023-05-31 SC698660business:SmallEntities2023-06-012024-05-31 SC698660countries:Scotland2023-06-012024-05-31 SC698660core:LandBuildings2023-06-012024-05-31 SC698660core:LandBuildings2023-05-31 SC698660core:LandBuildings2024-05-31 SC6986602022-06-012023-05-31 iso4217:GBP xbrli:pure
Company Registration No. SC698660 (Scotland)
Oifis Limited Unaudited accounts for the year ended 31 May 2024
Oifis Limited Unaudited accounts Contents
Page
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Oifis Limited Company Information for the year ended 31 May 2024
Director
K White
Company Number
SC698660 (Scotland)
Registered Office
66 Drumlin Drive Milngavie Glasgow G62 6NQ
Accountants
Assenti & Noble Ltd 18 Mosshead Road Bearsden Glasgow G61 3HN
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Oifis Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
418,496 
418,496 
Current assets
Cash at bank and in hand
294 
8,778 
Creditors: amounts falling due within one year
(87,615)
(57,213)
Net current liabilities
(87,321)
(48,435)
Total assets less current liabilities
331,175 
370,061 
Creditors: amounts falling due after more than one year
(281,750)
(341,391)
Net assets
49,425 
28,670 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
49,424 
28,669 
Shareholders' funds
49,425 
28,670 
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 director acknowledges his 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 and authorised for issue on 14 February 2025 and were signed on its behalf by
K White Director Company Registration No. SC698660
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Oifis Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Oifis Limited is a private company, limited by shares, registered in Scotland, registration number SC698660. The registered office is 66 Drumlin Drive, Milngavie, Glasgow, G62 6NQ.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents net rents received, excluding value added tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation provided
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 June 2023
418,496 
At 31 May 2024
418,496 
Depreciation
At 31 May 2024
- 
Net book value
At 31 May 2024
418,496 
At 31 May 2023
418,496 
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Oifis Limited Notes to the Accounts for the year ended 31 May 2024
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
20,987 
20,987 
Trade creditors
2,784 
2,784 
Taxes and social security
7,010 
6,725 
Loans from directors
39,464 
16,747 
Accruals
2,370 
2,470 
Deferred income
15,000 
7,500 
87,615 
57,213 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
231,750 
241,391 
Loans from directors
50,000 
100,000 
281,750 
341,391 
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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