Silverfin false 31/03/2022 31/03/2022 01/04/2021 Mr Gary Richardson 13/03/2015 06 September 2022 The principal activity of the company is that of the provision of lT consultancy services. SC500432 2022-03-31 SC500432 bus:Director1 2022-03-31 SC500432 2021-03-31 SC500432 core:CurrentFinancialInstruments 2022-03-31 SC500432 core:CurrentFinancialInstruments 2021-03-31 SC500432 core:ShareCapital 2022-03-31 SC500432 core:ShareCapital 2021-03-31 SC500432 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC500432 core:RetainedEarningsAccumulatedLosses 2021-03-31 SC500432 core:OtherPropertyPlantEquipment 2021-03-31 SC500432 core:OtherPropertyPlantEquipment 2022-03-31 SC500432 2020-03-31 SC500432 bus:OrdinaryShareClass1 2022-03-31 SC500432 bus:OrdinaryShareClass2 2022-03-31 SC500432 bus:OrdinaryShareClass3 2022-03-31 SC500432 core:KeyManagementPersonnel 2022-03-31 SC500432 core:KeyManagementPersonnel 2021-03-31 SC500432 2021-04-01 2022-03-31 SC500432 bus:FullAccounts 2021-04-01 2022-03-31 SC500432 bus:SmallEntities 2021-04-01 2022-03-31 SC500432 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 SC500432 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 SC500432 bus:Director1 2021-04-01 2022-03-31 SC500432 core:OtherPropertyPlantEquipment core:BottomRangeValue 2021-04-01 2022-03-31 SC500432 core:OtherPropertyPlantEquipment core:TopRangeValue 2021-04-01 2022-03-31 SC500432 2020-04-01 2021-03-31 SC500432 core:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 SC500432 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 SC500432 bus:OrdinaryShareClass1 2020-04-01 2021-03-31 SC500432 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 SC500432 bus:OrdinaryShareClass2 2020-04-01 2021-03-31 SC500432 bus:OrdinaryShareClass3 2021-04-01 2022-03-31 SC500432 bus:OrdinaryShareClass3 2020-04-01 2021-03-31 SC500432 core:KeyManagementPersonnel 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC500432 (Scotland)

OCTAVIA PROJECT SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH THE REGISTRAR

OCTAVIA PROJECT SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2022

Contents

OCTAVIA PROJECT SERVICES LTD

BALANCE SHEET

AS AT 31 MARCH 2022
OCTAVIA PROJECT SERVICES LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 1,767 603
1,767 603
Current assets
Debtors 4 10,800 10,200
Cash at bank and in hand 5 61,949 45,379
72,749 55,579
Creditors
Amounts falling due within one year 6 ( 22,966) ( 25,179)
Net current assets 49,783 30,400
Total assets less current liabilities 51,550 31,003
Provision for liabilities 7, 8 ( 442) ( 115)
Net assets 51,108 30,888
Capital and reserves
Called-up share capital 9 140 140
Profit and loss account 50,968 30,748
Total shareholders' funds 51,108 30,888

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Octavia Project Services Ltd (registered number: SC500432) were approved and authorised for issue by the Director on 06 September 2022. They were signed on its behalf by:

Mr Gary Richardson
Director
OCTAVIA PROJECT SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2022
OCTAVIA PROJECT SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Octavia Project Services Ltd (the Company) is a private company, limited by shares, incorporated in Scotland. The Company's registered office is 66 Tay Street, Perth, PH2 8RA, United Kingdom.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents amounts receivable for IT consultancy services net of VAT.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as
reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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:

Plant and machinery etc. 3 - 5 years 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible 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).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2021 3,798 3,798
Additions 1,729 1,729
Disposals ( 560) ( 560)
At 31 March 2022 4,967 4,967
Accumulated depreciation
At 01 April 2021 3,195 3,195
Charge for the financial year 565 565
Disposals ( 560) ( 560)
At 31 March 2022 3,200 3,200
Net book value
At 31 March 2022 1,767 1,767
At 31 March 2021 603 603

4. Debtors

2022 2021
£ £
Trade debtors 10,800 10,200

5. Cash and cash equivalents

2022 2021
£ £
Cash at bank and in hand 61,949 45,379

6. Creditors: amounts falling due within one year

2022 2021
£ £
Other creditors 2,295 6,300
Corporation tax 15,237 12,427
Other taxation and social security 5,434 6,452
22,966 25,179

7. Provision for liabilities

2022 2021
£ £
Deferred tax 442 115

8. Deferred tax

2022 2021
£ £
At the beginning of financial year ( 115) ( 88)
Charged to the Statement of Income and Retained Earnings ( 327) ( 27)
At the end of financial year ( 442) ( 115)

9. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
100 A ordinary shares of £ 1.00 each 100 100
20 B ordinary shares of £ 1.00 each 20 20
20 C ordinary shares of £ 1.00 each 20 20
140 140

10. Related party transactions

Transactions with the entity’s director (or members of its governing body)

Amounts owed to director

2022 2021
£ £
Directors' current accounts 394 4,502

Advances totalling £63,758 were made to the director in the year and £59,940 was repaid. Interest of £286 was charged by the company at a rate of 2%. This loan is unsecured and repayable on demand.