Company Registration No. 09556635 (England and Wales)
OAIRO (THAILAND) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
PAGES FOR FILING WITH REGISTRAR
OAIRO (THAILAND) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OAIRO (THAILAND) LIMITED
BALANCE SHEET
AS AT
31 JULY 2020
31 July 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,983
2,683
Current assets
Stocks
30,558
Debtors
4
9,913
14,600
Cash at bank and in hand
1,047
1,282
10,960
46,440
Creditors: amounts falling due within one year
5
(28,496)
(57,110)
Net current liabilities
(17,536)
(10,670)
Total assets less current liabilities
(15,553)
(7,987)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(15,653)
(8,087)
Total equity
(15,553)
(7,987)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 July 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 29 July 2021
Mr. B. Saxby
Director
Company Registration No. 09556635
OAIRO (THAILAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
- 2 -
1
Accounting policies
Company information
Oairo Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit M Bourne End Business Park, Cores End Road, Bourne End, Buckinghamshire, England, SL8 5AS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
1.2
Going concern
A
true
t the time of approving the financial statements
,
the company liabilities exceeded the assets by £
15,553
but with the support of the directors and parent company there is
a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Fees for projects are allocated across the life of the project based on the deliverables detailed in the specific contract terms drawn up. In certain circumstances moblisation costs are agreed with clients at the start of major projects and those are recognised up front as they relate to the costs of setting the project in motion and getting started.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
OAIRO (THAILAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2020
1
Accounting policies
(Continued)
- 3 -
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2019 and 31 July 2020
3,500
Depreciation and impairment
At 1 August 2019
817
Depreciation charged in the year
700
At 31 July 2020
1,517
Carrying amount
At 31 July 2020
1,983
At 31 July 2019
2,683
OAIRO (THAILAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2020
- 4 -
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
9,913
14,600
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
23,996
53,951
Taxation and social security
3,159
Other creditors
4,500
28,496
57,110
6
Related party transactions
At 31 July 2020 there is a debit balance with companies parent company Oairo Alliance Limited of £9,355, (2019: £14,100).
The loan is
interest free but
repayable on demand.