Oza Concepts & Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09277887 (England and Wales)

Oza Concepts & Solutions Limited

Abridged Financial Statements for the Year Ended 31st October 2020

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Director:

M Oza

Registered office:

1-3 High Street

Great Dunmow

Essex

CM6 1UU

Registered number:

09277887 (England and Wales)

Accountants:

Walters & Company

Certified Practising Accountants

1-3 High Street

Great Dunmow

Essex

CM6 1UU

Fixed assets

Tangible assets

4

1,297

175

Current assets

Debtors

17,116

9,701

Cash at bank and in hand

1,776

350

18,892

10,051

Creditors

Amounts falling due within one year

20,016

10,091

Net current liabilities

(1,124

)

(40

)

Total assets less current liabilities

173

135

Capital and reserves

Called up share capital

5

110

100

Retained earnings

63

35

Shareholders' funds

173

135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st October 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14th June 2021 and were signed by:

M Oza - Director

1.	Statutory information

Oza Concepts & Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & equipment

-

25% on cost

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants

are not recognised until there is reasonable assurance that the company will comply with the

conditions attaching to them and the grants will be received.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	Employees and directors

The average number of employees during the year was 1 (2019 - 1 ) .

4.	Tangible fixed assets

Totals

£

Cost

At 1st November 2019

6,199

Additions

1,730

At 31st October 2020

7,929

Depreciation

At 1st November 2019

6,024

Charge for year

608

At 31st October 2020

6,632

Net book value

At 31st October 2020

1,297

At 31st October 2019

175

5.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/20

31/10/19

value:

£

£

100

Ordinary

1

100

100

10

B Ordinary

1

10

-

110

100

6.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31st October 2020 and 31st October 2019:

31/10/20

31/10/19

£

£

M Oza

Balance outstanding at start of year

8,001

4,045

Amounts advanced

25,802

41,823

Amounts repaid

(26,152

)

(37,867

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

7,651

8,001

All amounts represent interest free loans and were repaid within nine months.

7.	Controlling party

The controlling party is M Oza.