Company Registration No. 10826052 (England and Wales)
Oatland News Limited
Unaudited accounts
for the year ended 30 June 2024
Oatland News Limited
Unaudited accounts
Contents
Oatland News Limited
Company Information
for the year ended 30 June 2024
Directors
Mr Omran Malik
Mrs. Saiqa Malik
Company Number
10826052 (England and Wales)
Registered Office
4 Carlton Parade
Leeds
West Yorkshire
LS7 1HA
Accountants
Malik Chopdat & Co
99 Manningham Lane
Bradford
West Yorkshire
BD1 3BN
Oatland News Limited
Accountants' report
Accountants' report to the board of directors of Oatland News Limited on the preparation of the unaudited statutory accounts 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
Oatland News 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.
This report is made solely to the Board of Directors of Oatland News Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Oatland News Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oatland News Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Oatland News 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 profit of Oatland News Limited. You consider that Oatland News 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 Oatland News 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.
Malik Chopdat & Co
99 Manningham Lane
Bradford
West Yorkshire
BD1 3BN
23 June 2025
Oatland News Limited
Statement of financial position
as at 30 June 2024
Intangible assets
232,719
237,468
Tangible assets
32,635
22,864
Cash at bank and in hand
60,660
81,500
Creditors: amounts falling due within one year
(41,621)
(59,335)
Net current assets
32,143
31,432
Total assets less current liabilities
297,497
291,764
Creditors: amounts falling due after more than one year
(126,218)
(149,306)
Net assets
171,279
142,458
Called up share capital
100
100
Profit and loss account
171,179
142,358
Shareholders' funds
171,279
142,458
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 directors acknowledge their 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 of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by
Mr Omran Malik
Director
Company Registration No. 10826052
Oatland News Limited
Notes to the Accounts
for the year ended 30 June 2024
Oatland News Limited is a private company, limited by shares, registered in England and Wales, registration number 10826052. The registered office is 4 Carlton Parade, Leeds, West Yorkshire, LS7 1HA.
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:
Motor vehicles
25% Reducing balance
Fixtures & fittings
15% Reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Intangible fixed assets
Other
Oatland News Limited
Notes to the Accounts
for the year ended 30 June 2024
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 July 2023
20,995
18,906
39,901
At 30 June 2024
20,995
35,726
56,721
At 1 July 2023
10,032
7,005
17,037
Charge for the year
2,741
4,308
7,049
At 30 June 2024
12,773
11,313
24,086
At 30 June 2024
8,222
24,413
32,635
At 30 June 2023
10,963
11,901
22,864
Amounts falling due within one year
Accrued income and prepayments
752
752
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,735
3,097
Trade creditors
1,325
2,357
Taxes and social security
31,651
36,205
8
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
110,184
125,306
Oatland News Limited
Notes to the Accounts
for the year ended 30 June 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan
91,528
-
-
91,528
Director's Loan
91,528
-
-
91,528
10
Average number of employees
During the year the average number of employees was 7 (2023: 7).