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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
Page
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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
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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
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Oatland News Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
232,719 
237,468 
Tangible assets
32,635 
22,864 
265,354 
260,332 
Current assets
Inventories
12,313 
8,515 
Debtors
791 
752 
Cash at bank and in hand
60,660 
81,500 
73,764 
90,767 
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 
Capital and reserves
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
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Oatland News Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
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.
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 as modified by the revaluation of certain fixed assets.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover
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 
£ 
Cost
At 1 July 2023
269,850 
At 30 June 2024
269,850 
Amortisation
At 1 July 2023
32,382 
Charge for the year
4,749 
At 30 June 2024
37,131 
Net book value
At 30 June 2024
232,719 
At 30 June 2023
237,468 
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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 
Additions
- 
16,820 
16,820 
At 30 June 2024
20,995 
35,726 
56,721 
Depreciation
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 
Net book value
At 30 June 2024
8,222 
24,413 
32,635 
At 30 June 2023
10,963 
11,901 
22,864 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
39 
- 
Accrued income and prepayments
752 
752 
791 
752 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
4,735 
3,097 
VAT
- 
666 
Trade creditors
1,325 
2,357 
Taxes and social security
31,651 
36,205 
Accruals
3,910 
17,010 
41,621 
59,335 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
16,034 
24,000 
Loans from directors
110,184 
125,306 
126,218 
149,306 
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Oatland News Limited Notes to the Accounts for the year ended 30 June 2024
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr Omran Malik
Director's loan
91,528 
- 
- 
91,528 
Mrs. Saiqa Malik
Director's Loan
91,528 
- 
- 
91,528 
183,056 
- 
- 
183,056 
10
Average number of employees
During the year the average number of employees was 7 (2023: 7).
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