Ozyakut Ltd - Accounts to registrar (filleted) - small 23.1.2

Ozyakut Ltd - Accounts to registrar (filleted) - small 23.1.2


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REGISTERED NUMBER: 07246409 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2022

for

Ozyakut Ltd

Ozyakut Ltd (Registered number: 07246409)






Contents of the Financial Statements
for the Year Ended 31 July 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ozyakut Ltd

Company Information
for the Year Ended 31 July 2022







DIRECTOR: Mrs Nilcan Cicek





REGISTERED OFFICE: 293 Green Lanes
Palmers Green
London
N13 4XS





REGISTERED NUMBER: 07246409 (England and Wales)





ACCOUNTANTS: ADPL LLP
293 Green Lanes
London
N13 4XS

Ozyakut Ltd (Registered number: 07246409)

Balance Sheet
31 July 2022

31.7.22 31.7.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 73,071 92,045

CURRENT ASSETS
Stocks 41,490 36,485
Debtors 5 73,339 73,843
Cash at bank and in hand 89,315 71,790
204,144 182,118
CREDITORS
Amounts falling due within one year 6 196,179 185,542
NET CURRENT ASSETS/(LIABILITIES) 7,965 (3,424 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,036

88,621

CREDITORS
Amounts falling due after more than one
year

7

(23,283

)

(27,984

)

PROVISIONS FOR LIABILITIES 8 (12,827 ) (15,442 )
NET ASSETS 44,926 45,195

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 44,826 45,095
SHAREHOLDERS' FUNDS 44,926 45,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Ozyakut Ltd (Registered number: 07246409)

Balance Sheet - continued
31 July 2022


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

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 April 2023 and were signed by:





Mrs Nilcan Cicek - Director


Ozyakut Ltd (Registered number: 07246409)

Notes to the Financial Statements
for the Year Ended 31 July 2022

1. STATUTORY INFORMATION

Ozyakut Ltd 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.

In carrying out this assessment, the directors have considered the impact of the Covid-19 pandemic on the trade and finances of the company and wider group and they have taken steps to protect liquidity.

The directors are therefore satisfied that there is no significant risk to the ability of the company to continue as a going concern for at least 12 months from the date of approval of these financial statements.

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.
Short leasehold - in accordance with the property
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Government grants
Government grant received during the year has been accounted according to the policy per FRS 102.

The performance model required that:

(a) A grant that does not impose specified future performance-related conditions on the recipient is recognised in income when the grant proceeds are received or receivable.

(b) A grant that imposes specified future performance-related conditions on the recipient is recognised in income only when the performance-related conditions are met.

The accrual method requires that:

(a) An entity classifies a grant either as a grant relating to revenue or a grant relating to assets.

(b) Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate (Note: A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.)

(c) Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Ozyakut Ltd (Registered number: 07246409)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2021 - 24 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 August 2021 7,029 131,911 58,121
Additions - - 1,603
At 31 July 2022 7,029 131,911 59,724
DEPRECIATION
At 1 August 2021 1,819 85,090 28,209
Charge for year 235 11,706 7,879
At 31 July 2022 2,054 96,796 36,088
NET BOOK VALUE
At 31 July 2022 4,975 35,115 23,636
At 31 July 2021 5,210 46,821 29,912

Ozyakut Ltd (Registered number: 07246409)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2021 61,095 704 258,860
Additions 2,084 274 3,961
At 31 July 2022 63,179 978 262,821
DEPRECIATION
At 1 August 2021 51,521 176 166,815
Charge for year 2,914 201 22,935
At 31 July 2022 54,435 377 189,750
NET BOOK VALUE
At 31 July 2022 8,744 601 73,071
At 31 July 2021 9,574 528 92,045

5. DEBTORS
31.7.22 31.7.21
£    £   
Amounts falling due within one year:
Trade debtors 3,339 3,843

Amounts falling due after more than one year:
Other debtors 70,000 70,000

Aggregate amounts 73,339 73,843

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.22 31.7.21
£    £   
Trade creditors 43,502 41,957
Taxation and social security 86,377 49,636
Other creditors 66,300 93,949
196,179 185,542

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.22 31.7.21
£    £   
Hire purchase contracts 23,283 27,984

Ozyakut Ltd (Registered number: 07246409)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022

8. PROVISIONS FOR LIABILITIES
31.7.22 31.7.21
£    £   
Deferred tax 12,827 15,442

Deferred
tax
£   
Balance at 1 August 2021 15,442
Provided during year (2,615 )
Balance at 31 July 2022 12,827