Oia Group Limited - Period Ending 2020-03-31
Oia Group Limited - Period Ending 2020-03-31
Registration number:
Oia Group Limited
for the Year Ended 31 March 2020
Oia Group Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Oia Group Limited
Company Information
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Director |
Ms Cynthia Oghogho Omigie |
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Company secretary |
Ms Cynthia Oghogho Omigie |
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Registered office |
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Accountants |
Accountant details
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Oia Group Limited
(Registration number: 10663790)
Balance Sheet as at 31 March 2020
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2020 |
2019 |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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- |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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- |
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Shareholders' funds |
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For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company secretary and director
Oia Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Oia Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Creditors |
Creditors: amounts falling due within one year
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2020 |
2019 |
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Due within one year |
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Taxation and social security |
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- |
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Share capital |
Allotted, called up and fully paid shares
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2020 |
2019 |
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No. |
£ |
No. |
£ |
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1.00 |
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1.00 |
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Dividends |
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2020 |
2019 |
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£ |
£ |
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Final dividend of £ |
16,000 |
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Related party transactions |
Directors' remuneration
The director's remuneration for the year was as follows:
Oia Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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2020 |
2019 |
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Remuneration |
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- |