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Registered number: 10430674
OXY SPA LIMITED
Unaudited Financial Statements
For The Year Ended 31 October 2024
Saashiv & Co. Accountants Limited
Chartered Certified Accountants
Pentax House
South Harrow
London
HA2 0DU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10430674
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 19,800 24,750
Tangible Assets 5 45,003 48,118
64,803 72,868
CURRENT ASSETS
Stocks 6 25,874 20,885
Debtors 7 2,845 21,904
Cash at bank and in hand 6,671 6,875
35,390 49,664
Creditors: Amounts Falling Due Within One Year 8 (12,558 ) (18,437 )
NET CURRENT ASSETS (LIABILITIES) 22,832 31,227
TOTAL ASSETS LESS CURRENT LIABILITIES 87,635 104,095
Creditors: Amounts Falling Due After More Than One Year 9 (95,007 ) (102,673 )
NET (LIABILITIES)/ASSETS (7,372 ) 1,422
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (7,472 ) 1,322
SHAREHOLDERS' FUNDS (7,372) 1,422
Page 1
Page 2
For the year ending 31 October 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Oksana Bot
Director
03/07/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
OXY SPA LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 10430674 . The registered office is 184 Finchley Road, London, NW3 6BP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Over 10 years on staright line method
Plant & Machinery 5% on reducing balance method
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 2)
4 2
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4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 49,500
As at 31 October 2024 49,500
Amortisation
As at 1 November 2023 24,750
Provided during the period 4,950
As at 31 October 2024 29,700
Net Book Value
As at 31 October 2024 19,800
As at 1 November 2023 24,750
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 November 2023 9,462 77,610 87,072
As at 31 October 2024 9,462 77,610 87,072
Depreciation
As at 1 November 2023 4,730 34,224 38,954
Provided during the period 946 2,169 3,115
As at 31 October 2024 5,676 36,393 42,069
Net Book Value
As at 31 October 2024 3,786 41,217 45,003
As at 1 November 2023 4,732 43,386 48,118
6. Stocks
2024 2023
£ £
Materials 25,874 20,885
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 20,126
Directors' loan accounts 2,845 1,778
2,845 21,904
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 8,964 8,964
Other taxes and social security - 1,416
VAT 3,517 7,918
Other creditors 77 139
12,558 18,437
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,107 15,773
Other creditors 86,900 86,900
95,007 102,673
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mrs Oksana Bot (1,778 ) (1,067 ) - - (2,845 )
The above loan is unsecured, interest free and repayable on demand.
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