OFFICETEC (UK) LTD

Company Registration Number:
05664926 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2021

Period of accounts

Start date: 01 January 2021

End date: 31 December 2021

OFFICETEC (UK) LTD

Contents of the Financial Statements

for the Period Ended 31 December 2021

Company Information - 3
Report of the Directors - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 11

OFFICETEC (UK) LTD

Company Information

for the Period Ended 31 December 2021




Director: B Plowman
Mrs S E Plowman
Secretary: Mrs S E Plowman
Registered office: 67
Bridport Way
Braintree
Essex
CM7 9FP
Company Registration Number: 05664926 (England and Wales)

OFFICETEC (UK) LTD

Directors' Report Period Ended 31 December 2021

The directors present their report with the financial statements of the company for the period ended 31 December 2021

Principal Activities

The principal activity of the company in the year under review was that of the wholesale and retail trade of printer inks.

Directors

The directors shown below have held office during the whole of the period from 01 January 2021 to 31 December 2021
B Plowman
Mrs S E Plowman

Secretary
Mrs S E Plowman

This report was approved by the board of directors on 19 August 2022
And Signed On Behalf Of The Board By:

Name: B Plowman
Status: Director

Name: Mrs S E Plowman
Status: Director

OFFICETEC (UK) LTD

Balance sheet

As at 31 December 2021


Notes

2021
£

2020
£
Fixed assets
Intangible assets: 5 6,400 8,000
Tangible assets: 6 157 168
Total fixed assets: 6,557 8,168
Current assets
Stocks: 1,019 184
Debtors: 7 2,794 1,773
Cash at bank and in hand: 4,523 5,908
Total current assets: 8,336 7,865
Creditors: amounts falling due within one year: 8 ( 12,881 ) ( 11,633 )
Net current assets (liabilities): ( 4,545 ) ( 3,768 )
Total assets less current liabilities: 2,012 4,400
Creditors: amounts falling due after more than one year: 9 ( 679 ) ( 689 )
Accruals and deferred income: ( 278 )
Total net assets (liabilities): 1,333 3,433

The notes form part of these financial statements

OFFICETEC (UK) LTD

Balance sheet continued

As at 31 December 2021


Notes

2021
£

2020
£
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 1,323 3,423
Shareholders funds: 1,333 3,433

For the year ending 31 December 2021 the company was entitled to exemption 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 19 August 2022
And Signed On Behalf Of The Board By:

Name: B Plowman
Status: Director

Name: Mrs S E Plowman
Status: Director

The notes form part of these financial statements

OFFICETEC (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents net invoiced sales of goods, excluding value added tax

    Tangible fixed assets depreciation policy

    Depreciation is calculated to reduce the cost of tangible fixed assets to the anticipated residual value of the assets concerned in equal annual instalments over their estimated useful lives as follows:

    Office equipment - 25% per annum
    Fixtures and fittings - 25% per annum
    Website development costs - 25% per annum

    Intangible fixed assets amortisation policy

    Goodwill, being the amount paid in connection with the acquisition of a business at the beginning 2006 is being amortised evenly over its estimated useful life of 20 years

    Other accounting policies

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

OFFICETEC (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 2. Employees


    2021

    2020
    Average number of employees during the period 2 2

OFFICETEC (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 3. Off balance sheet disclosure

    No

OFFICETEC (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

4. Dividends


2021
£

2020
£
Dividends paid 3,000 4,000

OFFICETEC (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

5. Intangible assets

Goodwill Total
Cost £ £
At 01 January 2021 32,000 32,000
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 December 2021 32,000 32,000
Amortisation
Amortisation at 01 January 2021 24,000 24,000
Charge for year 1,600 1,600
On disposals - -
Other adjustments - -
Amortisation at 31 December 2021 25,600 25,600
Net book value
Net book value at 31 December 2021 6,400 6,400
Net book value at 31 December 2020 8,000 8,000

Goodwill, being the amount paid in connection with the acquisition of a business at the beginning 2006 is being amortised evenly over its estimated useful life of 20 years.

OFFICETEC (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

6. Tangible assets

Plant & machinery Fixtures & fittings Office equipment Total
Cost £ £ £ £
At 01 January 2021 1,500 2,246 1,496 5,242
Additions - - 89 89
Disposals ( 1,500 ) - ( 96 ) ( 1,596 )
Revaluations - - - -
Transfers - - - -
At 31 December 2021 0 2,246 1,489 3,735
Depreciation
At 01 January 2021 1,499 2,243 1,332 5,074
Charge for year - - 97 97
On disposals ( 1,499 ) - ( 94 ) ( 1,593 )
Other adjustments - - - -
At 31 December 2021 0 2,243 1,335 3,578
Net book value
At 31 December 2021 0 3 154 157
At 31 December 2020 1 3 164 168

OFFICETEC (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

7. Debtors


2021
£

2020
£
Trade debtors 2,794 1,773
Total 2,794 1,773

OFFICETEC (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

8.Creditors: amounts falling due within one year note


2021
£

2020
£
Trade creditors 11,437 7,930
Taxation and social security 1,444 3,703
Total 12,881 11,633

OFFICETEC (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

9.Creditors: amounts falling due after more than one year


2021
£

2020
£
Other creditors 679 689
Total 679 689