Registered number: 08727602
THE OITIJ-JO COLLECTIVE DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
M.R Accountants Ltd
The Oitij-Jo Collective Contents
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Accountants' Report | 3 |
| Statement of Income and Retained Earnings | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income and Expenditure Account | 7 |
The Oitij-Jo Collective Company Information For The Year Ended 31 October 2023
| Directors | A Khan |
|---|---|
| M Khanom | |
| L Uddin | |
| Secretary | M Anjum |
| Company Number | 08727602 |
| Registered Office | 50 Brian Road |
| Romford | |
| Essex | |
| RM6 5BX | |
| Accountants | M.R Accountants Ltd |
| 9b The Broadway | |
| Woodford Green | |
| Essex | |
| IG8 0HL |
Page 1
The Oitij-Jo Collective Company No. 08727602 Directors' Report For The Year Ended 31 October 2023
The directors present their report and the financial statements for the year ended 31 October 2023.
Directors
The directors who held office during the year were as follows:
A Khan Appointed 16/06/2023 M Khanom Appointed 16/06/2023 L Uddin Appointed 16/06/2023
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has 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.
On behalf of the board
A Khan Director
M Khanom Director
L Uddin Director
31/10/2024
Page 2
The Oitij-Jo Collective Accountants' Report For The Year Ended 31 October 2023
Report to the directors on the preparation of the unaudited statutory accounts of The Oitij-Jo Collective for the year ended 31 October 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Oitij-Jo Collective which comprise the Income and Expenditure Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rulesstandards/acca-rulebook.html.
This report is made to the directors of The Oitij-Jo Collective, as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of The Oitij-Jo Collective and state those matters that we have agreed to state to the directors of The Oitij-Jo Collective, as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at
http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Oitij-Jo Collective and its directors as a body for our work or for this report.
It is your duty to ensure that The Oitij-Jo Collective has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of The Oitij-Jo Collective. You consider that The Oitij-Jo Collective is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of The Oitij-Jo Collective. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
31/10/2024
M.R Accountants Ltd 9b The Broadway Woodford Green Essex IG8 0HL
Page 3
The Oitij-Jo Collective Statement of Income and Retained Earnings For The Year Ended 31 October 2023
| Notes TURNOVER Cost of sales GROSS SURPLUS Administrative expenses Other operating income OPERATING SURPLUS/(DEFICIT) Other interest receivable and similar income SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR RETAINED EARNINGS As at 1 November 2022 As at 31 October 2023 |
2023 £ 103,477 (50,137) 53,340 (129,765) 90,995 14,570 212 14,782 10,791 25,573 |
2022 £ 48,289 (8,276) |
|---|---|---|
| 40,013 (98,067) 46,597 |
||
| (11,457) 3 |
||
| (11,454) 22,245 10,791 |
The notes on page 6 form part of these financial statements.
Page 4
The Oitij-Jo Collective Balance Sheet As At 31 October 2023
| Notes CURRENT ASSETS Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 4 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2023 £ £ 26,857 26,857 (1,284) 25,573 25,573 25,573 25,573 25,573 |
2023 £ £ 26,857 26,857 (1,284) 25,573 25,573 25,573 25,573 25,573 |
2022 £ £ 11,291 11,291 (500) 10,791 10,791 10,791 10,791 10,791 |
2022 £ £ 11,291 11,291 (500) 10,791 10,791 10,791 10,791 10,791 |
|---|---|---|---|---|
| 26,857 (1,284) |
11,291 (500) |
|||
| 25,573 | 10,791 | |||
| 25,573 | 10,791 | |||
| 25,573 | 10,791 | |||
| 25,573 | 10,791 |
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
A Khan Director 31/10/2024
M Khanom L Uddin Director Director
The notes on page 6 form part of these financial statements.
Page 5
The Oitij-Jo Collective Notes to the Financial Statements For The Year Ended 31 October 2023
1. General Information
The Oitij-Jo Collective is a private company, limited by guarantee, incorporated in England & Wales, registered number 08727602. The registered office is 50 Brian Road, Romford, Essex, RM6 5BX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Government Grant
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related
assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 2)
4. Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Other creditors | 1,284 | 500 |
5. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 6
The Oitij-Jo Collective Detailed Income and Expenditure Account For The Year Ended 31 October 2023
| TURNOVER Sales COST OF SALES Purchases Charitable Projects undertaken - Paraa project in Bangladesh GROSS SURPLUS Administrative Expenses Wages and salaries Staff training Travel and subsistence expenses Rent Repairs and maintenance Computer software costs Insurance Printing, postage and stationery Advertising and marketing costs Telecommunications Accountancy fees Professional fees Subscriptions Bank charges Equipment expensed Sundry expenses Other Operating Income Other operating income OPERATING SURPLUS/(DEFICIT) Other interest receivable and similar income Bank interest receivable SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR |
2023 £ £ 103,477 5,766 44,371 (50,137) 53,340 101,656 - 3,680 14,802 187 4,568 1,640 817 322 - 500 - 174 186 1,196 37 (129,765) 90,995 90,995 14,570 212 212 14,782 |
2023 £ £ 103,477 5,766 44,371 (50,137) 53,340 101,656 - 3,680 14,802 187 4,568 1,640 817 322 - 500 - 174 186 1,196 37 (129,765) 90,995 90,995 14,570 212 212 14,782 |
2022 £ £ 48,289 8,276 - (8,276) 40,013 81,061 1,500 3,872 - 2,348 - 520 413 526 3,981 500 629 202 109 2,350 56 (98,067) 46,597 46,597 (11,457) 3 3 (11,454) |
2022 £ £ 48,289 8,276 - (8,276) 40,013 81,061 1,500 3,872 - 2,348 - 520 413 526 3,981 500 629 202 109 2,350 56 (98,067) 46,597 46,597 (11,457) 3 3 (11,454) |
|---|---|---|---|---|
| 101,656 - 3,680 14,802 187 4,568 1,640 817 322 - 500 - 174 186 1,196 37 |
81,061 1,500 3,872 - 2,348 - 520 413 526 3,981 500 629 202 109 2,350 56 |
|||
| 53,340 (129,765) 90,995 |
40,013 (98,067) 46,597 |
|||
| 90,995 | 46,597 | |||
| 212 | 3 | |||
| 14,570 212 |
(11,457) 3 |
|||
| 14,782 | (11,454) |
Page 7