1.
General Information
Oiyaa Local Limited, formerly Localvalu Limited
(formally known as Localvalu Limited) is a private company, limited by shares, incorporated in England & Wales, registered number
12726705
. The registered office is Np-105 Icentre, Howard Way, Newport Pagnell, Milton Keynes, MK16 9PY.
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.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Webiste Cost. It is amortised to profit and loss account over 5 Years Straight Line method.
2.3.
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:
| Computer Equipment |
|
2.4.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 5)
4.
Intangible Assets
| Other | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 January 2024 |
|
||
| As at 31 December 2024 |
|
||
| Amortisation | |||
| As at 1 January 2024 |
|
||
| Provided during the period |
|
||
| As at 31 December 2024 |
|
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| Net Book Value | |||
| As at 31 December 2024 |
|
||
| As at 1 January 2024 |
|
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Oiyaa Local Limited, formerly Localvalu Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5.
Tangible Assets
| Computer Equipment | |
|---|---|
| £ | |
| Cost | |
| As at 1 January 2024 |
|
| Additions |
|
| As at 31 December 2024 |
|
| Depreciation | |
| As at 1 January 2024 |
|
| Provided during the period |
|
| As at 31 December 2024 |
|
| Net Book Value | |
| As at 31 December 2024 |
|
| As at 1 January 2024 |
|
6.
Debtors
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
|
|
|
| Corporation tax recoverable assets | - |
|
|
| VAT |
|
|
|
| Called up share capital not paid |
|
|
|
|
|
|
||
7.
Creditors: Amounts Falling Due Within One Year
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Loan |
|
|
|
| Other taxes and social security |
|
|
|
| Net wages | 10,793 | - | |
| Pensions Payable |
|
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
8.
Creditors: Amounts Falling Due After More Than One Year
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts owed to related parties |
|
|
|
Summary of transactions with other related parties
At the balance sheet date the company owed £242K (2023: £146K) to Oiyaa Technologies Limited.
All of the amounts have no interest charged and will not be seeking repayment within the 12 months following the dating of these financial statements. These companies are connected by the common directorship of Neeta Dhorajiwala and Kaushik Hindocha.
Oiyaa Local Limited, formerly Localvalu Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
9.
Share Capital
|
2024
|
2023
|
||
|
£
|
£
|
||
|
Ordinary Share Capital - Paid
|
1,138
|
1,036
|
|
|
Ordinary Share Capital - Not Paid
|
50
|
50
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
|
||
|
1,188
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
1,086
|
This represents 1,188 Ordinary shares of £1 each ( 2023 – 1,036 shares).