0 01/10/2023 30/09/2024 2024-09-30 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-10-01 Sage Accounts Production 23.1 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP NI060939 2023-10-01 2024-09-30 NI060939 2024-09-30 NI060939 2023-09-30 NI060939 2022-10-01 2023-09-30 NI060939 2023-09-30 NI060939 2022-09-30 NI060939 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 NI060939 bus:Director2 2023-10-01 2024-09-30 NI060939 core:WithinOneYear 2024-09-30 NI060939 core:WithinOneYear 2023-09-30 NI060939 core:ShareCapital 2024-09-30 NI060939 core:ShareCapital 2023-09-30 NI060939 core:RetainedEarningsAccumulatedLosses 2024-09-30 NI060939 core:RetainedEarningsAccumulatedLosses 2023-09-30 NI060939 bus:OrdinaryShareClass1 core:ShareCapital 2024-09-30 NI060939 bus:OrdinaryShareClass1 core:ShareCapital 2023-09-30 NI060939 core:CostValuation core:Non-currentFinancialInstruments 2024-09-30 NI060939 core:Non-currentFinancialInstruments 2024-09-30 NI060939 core:Non-currentFinancialInstruments 2023-09-30 NI060939 bus:SmallEntities 2023-10-01 2024-09-30 NI060939 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 NI060939 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI060939 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI060939 bus:AbridgedAccounts 2023-10-01 2024-09-30
Company registration number: NI060939
OK Associates Ltd
Unaudited filleted abridged financial statements
for the year ended
30 September 2024
OK Associates Ltd
Abridged statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 11,100 11,100
_______ _______
11,100 11,100
Current assets
Debtors 37,137 37,137
Cash at bank and in hand 204 236
_______ _______
37,341 37,373
Creditors: amounts falling due
within one year ( 43,219) ( 42,305)
_______ _______
Net current liabilities ( 5,878) ( 4,932)
_______ _______
Total assets less current liabilities 5,222 6,168
_______ _______
Net assets 5,222 6,168
_______ _______
Capital and reserves
Called up share capital 6 2 2
Profit and loss account 5,220 6,166
_______ _______
Shareholders funds 5,222 6,168
_______ _______
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 01 September 2025 , and are signed on behalf of the board by:
Mr D A Mahon
Director
Company registration number: NI060939
OK Associates Ltd
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Northern Bank House, Main Street, Kesh, Co. Fermanagh, BT93 1TF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost convention.The company has availed of the exemption in FRS 102 from the requirement to prepare a Cash Flow Statement because it is classified as a small company.The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements:There are no critical judgements in applying the entity's accounting policies. Key sources of estimation uncertainty:There are no critical accounting estimates and assumptions.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
The company only enters into basic financial instruments transactions that result in recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short term instrument constitute a financing transaction, like the payment of trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank facilities, are initially valued at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method, less any impairment.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Investments
£
Cost
At 1 October 2023 and 30 September 2024 11,100
_______
Carrying amount
At 30 September 2024 11,100
_______
At 30 September 2023 11,100
_______
6. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______