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Registration number: 08468141

OCS Consultancy Services Limited

Unaudited Filleted Abridged Financial Statements

for the Period from 1 November 2021 to 31 January 2023

 

OCS Consultancy Services Limited

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

OCS Consultancy Services Limited

Company Information

Directors

I O'Connor

L O'Connor

Registered office

76 Bridgford Road
West Bridgford
Nottingham
NG2 6AX

Accountants

9ine
Chartered Accountants
76 Bridgford Road
West Bridgford
Nottingham
NG2 6AX

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
OCS Consultancy Services Limited
for the Period Ended 31 January 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of OCS Consultancy Services Limited for the period ended 31 January 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of OCS Consultancy Services Limited, as a body, in accordance with the terms of our engagement letter dated 14 June 2022. Our work has been undertaken solely to prepare for your approval the accounts of OCS Consultancy Services Limited and state those matters that we have agreed to state to the Board of Directors of OCS Consultancy Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OCS Consultancy Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that OCS Consultancy Services Limited 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 of OCS Consultancy Services Limited. You consider that OCS Consultancy Services Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of OCS Consultancy Services Limited. 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 statutory accounts.

......................................

9ine
Chartered Accountants
76 Bridgford Road
West Bridgford
Nottingham
NG2 6AX

31 July 2023

 

OCS Consultancy Services Limited

(Registration number: 08468141)
Abridged Balance Sheet as at 31 January 2023

Note

31 January 2023
£

31 October 2021
£

Fixed assets

 

Tangible assets

5

3,700

3,023

Current assets

 

Debtors

28,011

19,184

Cash at bank and in hand

 

15,098

46,820

 

43,109

66,004

Prepayments and accrued income

 

6,972

566

Creditors: Amounts falling due within one year

(41,623)

(41,685)

Net current assets

 

8,458

24,885

Total assets less current liabilities

 

12,158

27,908

Creditors: Amounts falling due after more than one year

(11,252)

(16,192)

Accruals and deferred income

 

(730)

(360)

Net assets

 

176

11,356

Capital and reserves

 

Called up share capital

100

100

Retained earnings

76

11,256

Shareholders' funds

 

176

11,356

 

OCS Consultancy Services Limited

(Registration number: 08468141)
Abridged Balance Sheet as at 31 January 2023

For the financial period ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 31 July 2023 and signed on its behalf by:



 

.........................................

I O'Connor
Director

 

OCS Consultancy Services Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2021 to 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
76 Bridgford Road
West Bridgford
Nottingham
NG2 6AX

These financial statements were authorised for issue by the Board on 31 July 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

OCS Consultancy Services Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2021 to 31 January 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipments

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

OCS Consultancy Services Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2021 to 31 January 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2021 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

31 January
2023
£

31 October
2021
£

Depreciation expense

1,680

1,009

 

OCS Consultancy Services Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2021 to 31 January 2023

5

Tangible assets

Total
£

Cost or valuation

At 1 November 2021

5,519

Additions

2,604

Disposals

(916)

At 31 January 2023

7,207

Depreciation

At 1 November 2021

2,496

Charge for the period

1,680

Eliminated on disposal

(669)

At 31 January 2023

3,507

Carrying amount

At 31 January 2023

3,700

At 31 October 2021

3,023

6

Related party transactions

During the period an interest free loan had been granted by the company to the director of £3,544. The total amount outstanding as at 31 January 2023 was £3,544 (31 October 2021 - £NIL)