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REGISTERED NUMBER: 11512499 (England and Wales)












ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

OTIX SOLUTIONS LTD

OTIX SOLUTIONS LTD (REGISTERED NUMBER: 11512499)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


OTIX SOLUTIONS LTD

COMPANY INFORMATION
for the year ended 31 December 2021







DIRECTOR: Ms B Sahota





REGISTERED OFFICE: Seven Stars House
1 Wheler Road
Coventry
West Midlands
CV3 4LB





REGISTERED NUMBER: 11512499 (England and Wales)






OTIX SOLUTIONS LTD (REGISTERED NUMBER: 11512499)

ABRIDGED BALANCE SHEET
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,856 229

CURRENT ASSETS
Debtors 325,529 6,850
Cash at bank and in hand 62,333 209,131
387,862 215,981
CREDITORS
Amounts falling due within one year 128,746 45,581
NET CURRENT ASSETS 259,116 170,400
TOTAL ASSETS LESS CURRENT
LIABILITIES

264,972

170,629

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 264,872 170,529
264,972 170,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 October 2023 and were signed by:




Ms B Sahota - Director


OTIX SOLUTIONS LTD (REGISTERED NUMBER: 11512499)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2021

1. STATUTORY INFORMATION

Otix Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

OTIX SOLUTIONS LTD (REGISTERED NUMBER: 11512499)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021 288
Additions 5,685
At 31 December 2021 5,973
DEPRECIATION
At 1 January 2021 59
Charge for year 58
At 31 December 2021 117
NET BOOK VALUE
At 31 December 2021 5,856
At 31 December 2020 229

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
Ms B Sahota
Balance outstanding at start of year - -
Amounts advanced 325,529 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 325,529 -

6. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.