**COMPANY REGISTRATION NUMBER: 08727602** ## **The Oitij-Jo Collective Company Limited by Guarantee Unaudited Financial Statements** ## **31 October 2021** ## **M.R ACCOUNTANTS & TAX ADVISERS** Chartered Certified Accountants 50 Brian Road Romford Essex RM6 5BX ## **The Oitij-Jo Collective** ## **Company Limited by Guarantee** ## **Financial Statements** ## **Year ended 31 October 2021** |**Contents**|**Page**| |---|---| |Officers and professional advisers|**1**| |Directors' report|**2**| |Chartered certified accountants report to the board of directors|| |on the preparation of the unaudited statutory financial|| |statements|**3**| |Statement of income and retained earnings|**4**| |Statement of financial position|**5**| |Notes to the financial statements|**7**| |**The following pages do not form part of the financial statements**|| |Detailed income statement|**10**| |Notes to the detailed income statement|**11**| ## **The Oitij-Jo Collective** ## **Company Limited by Guarantee** ## **Officers and Professional Advisers** **The board of directors** Mr. M R Abdin Ms. M R Anjum Mr. E Hoque Mr. A A Nokhasteh Mr. J Baker **Company secretary** Ms. M R Anjum **Registered office** 50 Brian Road Romford Essex RM6 5BX **Accountants** M.R Accountants & Tax Advisers Chartered Certified Accountants 50 Brian Road Romford Essex RM6 5BX **- 1 -** ## **The Oitij-Jo Collective** ## **Company Limited by Guarantee** ## **Directors' Report** ## **Year ended 31 October 2021** The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2021. ## **Directors** The directors who served the company during the year were as follows: Mr. M R Abdin Ms. M R Anjum Mr. E Hoque Mr. A A Nokhasteh Mr. J Baker ## **Small company provisions** This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. This report was approved by the board of directors on 17 January 2022 and signed on behalf of the board by: Mr. M R Abdin Director Ms. M R Anjum Director Mr. E Hoque Director Mr. A A Nokhasteh Director Mr. J Baker Director Ms. M R Anjum Company Secretary **- 2 -** ## **The Oitij-Jo Collective** ## **Company Limited by Guarantee** ## **Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of The Oitij-Jo Collective** ## **Year ended 31 October 2021** As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 October 2021, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us. M.R ACCOUNTANTS & TAX ADVISERS Chartered Certified Accountants 50 Brian Road Romford Essex RM6 5BX 17 January 2022 **- 3 -** ## **The Oitij-Jo Collective** ## **Company Limited by Guarantee** ## **Statement of Income and Retained Earnings** ## **Year ended 31 October 2021** |||**2021**|2020| |---|---|---|---| ||**Note**|**£**|£| |**Turnover**||**58,036**|22,422| |Cost of sales||**3,129**|–| |||---------------------------|---------------------------| |**Gross profit**||**54,907**|22,422| |Administrative expenses||**38,192**|20,205| |||---------------------------|---------------------------| |**Operating profit**||**16,715**|2,217| |Other interest receivable and similar income||**52**|2| |||---------------------------|---------------------------| |**Profit before taxation**||**16,767**|2,219| |Tax on profit||**–**|–| |||---------------------------|-----------------------| |**Profit for the financial year and total comprehensive income**||**16,767**|2,219| |||===========================|=======================| |**Retained earnings at the start of the year**||**5,478**|3,259| |||---------------------------|-----------------------| |**Retained earnings at the end of the year**||**22,245**|5,478| |||===========================|=======================| All the activities of the company are from continuing operations. **The notes on pages 7 to 8 form part of these financial statements.** **- 4 -** ## **The Oitij-Jo Collective** ## **Company Limited by Guarantee** ## **Statement of Financial Position** ## **31 October 2021** |||**2021**||2020| |---|---|---|---|---| ||**Note**|**£**|**£**|£| |**Current assets**||||| |Cash at bank and in hand||**22,861**||5,878| |**Creditors: amounts falling due within one year**|**6**|**616**||400| |||---------------------------||-----------------------| |**Net current assets**|||**22,245**|5,478| ||||---------------------------|-----------------------| |**Total assets less current liabilities**|||**22,245**|5,478| ||||---------------------------|-----------------------| |**Net assets**|||**22,245**|5,478| ||||===========================|=======================| |**Capital and reserves**||||| |Profit and loss account|||**22,245**|5,478| ||||---------------------------|-----------------------| |**Members funds**|||**22,245**|5,478| ||||===========================|=======================| These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. For the year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: - The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. The statement of financial position continues on the following page. **The notes on pages 7 to 8 form part of these financial statements.** **- 5 -** ## **The Oitij-Jo Collective** ## **Company Limited by Guarantee** ## **Statement of Financial Position** _**(continued)**_ ## **31 October 2021** These financial statements were approved by the board of directors and authorised for issue on 17 January 2022, and are signed on behalf of the board by: Mr. M R Abdin Director Ms. M R Anjum Director Mr. E Hoque Director Mr. A A Nokhasteh Director Mr. J Baker Director Company registration number: 08727602 **The notes on pages 7 to 8 form part of these financial statements.** **- 6 -** **The Oitij-Jo Collective** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** ## **Year ended 31 October 2021** ## **1. General information** The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 50 Brian Road, Romford, Essex, RM6 5BX. ## **2. Statement of compliance** These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Revenue recognition** Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. ## **Financial instruments** Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. **- 7 -** ## **The Oitij-Jo Collective** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 October 2021** ## **4. Company limited by guarantee** The Oitij-Jo Collective is a Company limited by guarantee, and therefore there are no shares in issue. If upon the winding-up or dissolution of the Company, there remains, after the satisfaction of all its debts and liabilities, any property whatsoever, the same is not paid to or distributed among the members of the Company, but is given or transferred to the Charity. ## **5. Employee numbers** The average number of persons employed by the company during the year amounted to 2 (2020: 2). ## **6. Creditors: amounts falling due within one year** ||**2021**|2020| |---|---|---| ||**£**|£| |Social security and other taxes|**116**|–| |Other creditors|**500**|400| ||--------------|--------------| ||**616**|400| ||==============|==============| ## **7. Related party transactions** The company was under the control of the above directors throughout the current year. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8. **- 8 -** **The Oitij-Jo Collective** ## **Company Limited by Guarantee** ## **Management Information** **Year ended 31 October 2021** **The following pages do not form part of the financial statements.** **- 9 -** ## **The Oitij-Jo Collective** ## **Detailed Income Statement** ## **Year ended 31 October 2021** ||**2021**|2020| |---|---|---| ||**£**|£| |**Turnover**|**58,036**|22,422| |**Cost of sales**||| |Purchases|**3,129**|–| ||---------------------------|---------------------------| |**Gross profit**|**54,907**|22,422| |**Overheads**||| |Administrative expenses|**38,192**|20,205| ||---------------------------|-----------------------| |**Operating profit**|**16,715**|2,217| |Other interest receivable and similar income|**52**|2| ||---------------------------|-----------------------| |**Profit before taxation**|**16,767**|2,219| ||===========================|=======================| **- 10 -** ## **The Oitij-Jo Collective** ## **Notes to the Detailed Income Statement** ## **Year ended 31 October 2021** ||**2021**|2020| |---|---|---| ||**£**|£| |**Administrative expenses**||| |Wages, salaries and workshops|**25,257**|16,297| |Rent rates and water|**288**|–| |Insurance|**381**|140| |Repairs and maintenance|**8,514**|108| |Travel and subsistence|**1,265**|2,476| |Telephone|**–**|86| |Printing postage and stationery|**98**|122| |Staff training|**315**|–| |Other staff related expenses|**176**|–| |Computer expenses|**1,316**|–| |Advertising|**–**|509| |Accountancy fees|**500**|400| |Bank charges|**82**|67| ||---------------------------|---------------------------| ||**38,192**|20,205| ||===========================|===========================| |**Other interest receivable and similar income**||| |Interest on cash and cash equivalents|**52**|2| ||==============|==============| **- 11 -**