Oz Express Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 10690833 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

OZ EXPRESS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A. Ozdemir

Mrs S. Eser

Mr E. Eser

SECRETARY:

Mrs S. Eser

REGISTERED OFFICE:

128 Stoke Lane

Westbury-on-Trym

Bristol

BS9 3RJ

REGISTERED NUMBER:

10690833 (England and Wales)

ACCOUNTANTS:

LARKOS & PARTNERS

128 STOKE LANE

WESTBURY ON TRYM

BRISTOL

BS9 3RJ

FIXED ASSETS

Intangible assets

4

8,619

10,339

Tangible assets

5

120,890

121,510

129,509

131,849

CURRENT ASSETS

Stocks

6

4,180

4,760

Debtors

7

9,299

8,759

Cash at bank and in hand

12,303

13,160

25,782

26,679

CREDITORS

Amounts falling due within one year

8

67,116

58,995

NET CURRENT LIABILITIES

(41,334

)

(32,316

)

TOTAL ASSETS LESS CURRENT LIABILITIES

88,175

99,533

CREDITORS

Amounts falling due after more than one year

9

31,667

41,748

NET ASSETS

56,508

57,785

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

12

55,508

56,785

SHAREHOLDERS' FUNDS

56,508

57,785

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:

Mrs S. Eser - Director

Mr A. Ozdemir - Director

1.	STATUTORY INFORMATION

Oz Express 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of eleven years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Stocks

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

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.

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 10 (2022 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

18,939

AMORTISATION

At 1 April 2022

8,600

Amortisation for year

1,720

At 31 March 2023

10,320

NET BOOK VALUE

At 31 March 2023

8,619

At 31 March 2022

10,339

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 April 2022

14,072

202,980

217,052

Additions

-

16,187

16,187

At 31 March 2023

14,072

219,167

233,239

DEPRECIATION

At 1 April 2022

2,560

92,982

95,542

Charge for year

-

16,807

16,807

At 31 March 2023

2,560

109,789

112,349

NET BOOK VALUE

At 31 March 2023

11,512

109,378

120,890

At 31 March 2022

11,512

109,998

121,510

6.

STOCKS

31/3/23

31/3/22

£

£

Stocks

4,180

4,760

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/23

31/3/22

£

£

Other debtors

417

170

Prepayments

8,882

8,589

9,299

8,759

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/23

31/3/22

£

£

Trade creditors

3,746

5,065

Corporation Tax

484

10

Social security and other taxes

1,809

-

VAT

9,304

9,089

Directors' current accounts

46,733

40,733

Accrued expenses

5,040

4,098

67,116

58,995

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/23

31/3/22

£

£

Other loans (see note 10)

31,667

41,748

10.

LOANS

An analysis of the maturity of loans is given below:

31/3/23

31/3/22

£

£

Amounts falling due between one and two years:

Bounce Back Barclays Loan

31,667

41,748

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/23

31/3/22

value:

£

£

600

Ordinary A

1

600

600

400

Ordinary B

1

400

400

1,000

1,000

12.

RESERVES

Retained

earnings

£

At 1 April 2022

56,785

Profit for the year

4,723

Dividends

(6,000

)

At 31 March 2023

55,508