Registered number
09357270
8O65 LIMITED
Report and Accounts
31 January 2023
8O65 LIMITED
Registered number: 09357270
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 15,593 20,038
Current assets
Debtors 4 878 45,908
Cash at bank and in hand 111,729 103,108
112,607 149,016
Creditors: amounts falling due within one year 5 (17,355) (41,929)
Net current assets 95,252 107,087
Total assets less current liabilities 110,845 127,125
Provisions for liabilities (1,717) (2,147)
Net assets 109,128 124,978
Capital and reserves
Called up share capital 11 11
Profit and loss account 109,117 124,967
Shareholder's funds 109,128 124,978
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Stephens
Director
Approved by the board on 5 October 2023
8O65 LIMITED
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2022 10,924 22,310 33,234
At 31 January 2023 10,924 22,310 33,234
Depreciation
At 1 February 2022 2,185 11,011 13,196
Charge for the year 2,185 2,260 4,445
At 31 January 2023 4,370 13,271 17,641
Net book value
At 31 January 2023 6,554 9,039 15,593
At 31 January 2022 8,739 11,299 20,038
4 Debtors 2023 2022
£ £
Trade debtors - 45,908
Other debtors 878 -
878 45,908
5 Creditors: amounts falling due within one year 2023 2022
£ £
Loans from participators 16,715 22,551
Corporation tax - 14,162
Other taxes and social security costs - 4,576
Other creditors 640 640
17,355 41,929
6 Controlling party
The director R Stephens and members of his close family own 100% of the company's shares.
7 Other information
8O65 LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
39 Wood Croft
Billingshurst
RH14 9XL
8O65 LIMITED 09357270 false 2022-02-01 2023-01-31 2023-01-31 VT Final Accounts April 2022 R Stephens No description of principal activity 09357270 2021-02-01 2022-01-31 09357270 core:WithinOneYear 2022-01-31 09357270 core:ShareCapital 2022-01-31 09357270 core:RetainedEarningsAccumulatedLosses 2022-01-31 09357270 2022-02-01 2023-01-31 09357270 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 09357270 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 09357270 bus:Director40 2022-02-01 2023-01-31 09357270 1 2022-02-01 2023-01-31 09357270 2 2022-02-01 2023-01-31 09357270 core:LandBuildings 2022-02-01 2023-01-31 09357270 core:PlantMachinery 2022-02-01 2023-01-31 09357270 countries:England 2022-02-01 2023-01-31 09357270 bus:FRS102 2022-02-01 2023-01-31 09357270 bus:FullAccounts 2022-02-01 2023-01-31 09357270 2023-01-31 09357270 core:WithinOneYear 2023-01-31 09357270 core:ShareCapital 2023-01-31 09357270 core:RetainedEarningsAccumulatedLosses 2023-01-31 09357270 core:LandBuildings 2023-01-31 09357270 core:PlantMachinery 2023-01-31 09357270 2022-01-31 09357270 core:LandBuildings 2022-01-31 09357270 core:PlantMachinery 2022-01-31 iso4217:GBP xbrli:pure