Registered number
10875743
OASIS GROUP (LONDON) LIMITED
Filleted Accounts
31 July 2024
OASIS GROUP (LONDON) LIMITED
Registered number: 10875743
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 78,208 89,881
Current assets
Debtors 4 330,608 420,707
Cash at bank and in hand 180,137 39,743
510,745 460,450
Creditors: amounts falling due within one year 5 (71,587) (121,008)
Net current assets 439,158 339,442
Total assets less current liabilities 517,366 429,323
Creditors: amounts falling due after more than one year 6 (86,877) (108,076)
Net assets 430,489 321,247
Capital and reserves
Called up share capital 100 100
Profit and loss account 430,389 321,147
Shareholders' funds 430,489 321,247
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
MABEL AMANKAH
Director
Approved by the board on 25 September 2024
OASIS GROUP (LONDON) LIMITED
Notes to the Accounts
for the year ended 31 July 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 231 231
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 27,402 124,584 151,986
Additions 23,405 - 23,405
At 31 July 2024 50,807 124,584 175,391
Depreciation
At 1 August 2023 12,649 49,456 62,105
Charge for the year 10,161 24,917 35,078
At 31 July 2024 22,810 74,373 97,183
Net book value
At 31 July 2024 27,997 50,211 78,208
At 31 July 2023 14,753 75,128 89,881
4 Debtors 2024 2023
£ £
Trade debtors 179,691 420,707
Other debtors 150,917 -
330,608 420,707
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 40,438 55,243
Obligations under finance lease and hire purchase contracts - 22,974
Taxation and social security costs 19,410 28,390
Other creditors 11,739 14,401
71,587 121,008
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 86,877 108,076
7 Other information
OASIS GROUP (LONDON) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
246 - 250 ROMFORD ROAD
LONDON
UNITED KINGDOM
E7 9HZ
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