OC & OC LIMITED Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 09435947

OC & OC LIMITED

Filleted Unaudited Financial Statements

28 February 2020

OC & OC LIMITED

Statement of Financial Position

28 February 2020

	2020	2019
Note	£	£

Fixed assets

Tangible assets	4	78	78

Current assets

Debtors	5	6,708	6,708

Creditors: amounts falling due within one year	6	325,766	325,766
		---------	---------
Net current liabilities		319,058	319,058
		---------	---------
Total assets less current liabilities		( 318,980)	( 318,980)

Creditors: amounts falling due after more than one year	7	108,306	108,306
		---------	---------
Net liabilities		( 427,286)	( 427,286)
		---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 427,287)	( 427,287)
	---------	---------
Shareholders deficit	( 427,286)	( 427,286)
	---------	---------

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 income and retained earnings has not been delivered.

For the year ending 28 February 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 12 February 2021 , and are signed on behalf of the board by:

Mr Ori Calif
Director

Company registration number: 09435947

OC & OC LIMITED

Notes to the Financial Statements

Year ended 28 February 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, London, WC2H 7DQ, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Equipment
	£
Cost
At 1 March 2019 and 28 February 2020	78
	----
Depreciation
At 1 March 2019 and 28 February 2020	–
	----
Carrying amount
At 28 February 2020	78
	----
At 28 February 2019	78
	----

5. Debtors

	2020	2019
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	6,708	6,708
	-------	-------

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Other creditors	325,766	325,766
	---------	---------

7. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	108,306	108,306
	---------	---------

8. Director's advances, credits and guarantees

During the year the Company director had access to a director's loan account which was in credit by £311,297 as at 28 February 2020 and reflected under Other creditors on the Company's Statement of Financial Position.