Company Registration No. 10238214 (England and Wales)
OWIESON LIMITED
Unaudited accounts
for the year ended 30 June 2024
OWIESON LIMITED
Unaudited accounts
Contents
OWIESON LIMITED
Company Information
for the year ended 30 June 2024
Company Number
10238214 (England and Wales)
Registered Office
11 SIMONDS GROVE SIMONDS GROVE
SPENCERS WOOD
READING
BERKSHIRE
RG7 1BH
ENGLAND
Accountants
Ease Accounting Associates UK Limited
Chartered Accountants
Base Point Dartford Business Park
54 Victoria Road
DARTFORD
Kent
DA1 5FS
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of OWIESON LIMITED for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
OWIESON LIMITED for the year ended
30 June 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of OWIESON LIMITED, as a body, in accordance with the terms of our engagement letter dated 25 March 2022. Our work has been undertaken solely to prepare for your approval the accounts of OWIESON LIMITED and state those matters that we have agreed to state to the Board of Directors of OWIESON LIMITED, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OWIESON LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that OWIESON LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of OWIESON LIMITED. You consider that OWIESON LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of OWIESON LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Ease Accounting Associates UK Limited
Chartered Accountants
Chartered Accountants
Base Point Dartford Business Park
54 Victoria Road
DARTFORD
Kent
DA1 5FS
26 March 2025
OWIESON LIMITED
Statement of financial position
as at 30 June 2024
Cash at bank and in hand
848
877
Creditors: amounts falling due within one year
383
6,456
Net current assets
29,472
35,574
Total assets less current liabilities
30,150
36,478
Creditors: amounts falling due after more than one year
(32,992)
(36,345)
Net (liabilities)/assets
(2,842)
133
Called up share capital
15
15
Profit and loss account
(2,857)
118
Shareholders' funds
(2,842)
133
For the year ending 30 June 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 26 March 2025 and were signed on its behalf by
ADOGO, James
Director
Company Registration No. 10238214
OWIESON LIMITED
Notes to the Accounts
for the year ended 30 June 2024
OWIESON LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10238214. The registered office is 11 SIMONDS GROVE SIMONDS GROVE, SPENCERS WOOD, READING, BERKSHIRE, RG7 1BH, ENGLAND.
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.
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:
Computer equipment
25& On Reducing Balance
Going Concern and Assurance to Creditors
The financial statements have been prepared on a going concern basis, notwithstanding that the company’s shareholder funds show a negative balance as at the reporting date.
The directors have assessed the financial position of the company and have prepared a cash flow forecast for at least the next 12 months from the date of approval of these financial statements. Based on this assessment, the directors are confident that the company has adequate resources to continue its operations and meet its liabilities as they fall due.
Key considerations include:
• Support from Creditors: The directors have obtained assurances from key creditors that payment terms will remain favorable to support the company’s liquidity position.
• Profitability and Cash Flow: The company is expected to generate sufficient cash flow from operations to cover its ongoing obligations.
• Director Support (if applicable): The directors are committed to providing financial support to the company, if necessary, to ensure it continues as a going concern.
• Access to Financing (if applicable): The company has access to additional financing facilities, which remain undrawn at the reporting date.
The directors have no intention to liquidate the company or to cease trading. Consequently, they believe it is appropriate to prepare the financial statements on a going concern basis.
This conclusion is supported by the company's track record, future projections, and plans for improving financial performance and strengthening its balance sheet.
OWIESON LIMITED
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
16,933
16,933
Other debtors
11,308
11,308
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,424
9,424
Taxes and social security
21,409
21,409
Loans from directors
(32,216)
(37,914)
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
15 Ordinary shares of £1 each
15
15
OWIESON LIMITED
Notes to the Accounts
for the year ended 30 June 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).