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REGISTERED NUMBER: 14298232 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Octa Audio Limited

Octa Audio Limited (Registered number: 14298232)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Octa Audio Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: J F Rowley
Mrs A Rowley





SECRETARY:





REGISTERED OFFICE: 6 High Street
Wheathampstead
Hertfordshire
AL4 8AA





REGISTERED NUMBER: 14298232 (England and Wales)





ACCOUNTANTS: Fenlon & Co
Chartered Certified Accountants
6 High Street
Wheathampstead
Hertfordshire
AL4 8AA

Octa Audio Limited (Registered number: 14298232)

Balance Sheet
31 August 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 9,542

CURRENT ASSETS
Debtors 5 21,898
Cash at bank 27,187
49,085
CREDITORS
Amounts falling due within one year 6 38,645
NET CURRENT ASSETS 10,440
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,982

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 19,882
19,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Octa Audio Limited (Registered number: 14298232)

Balance Sheet - continued
31 August 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





J F Rowley - Director


Octa Audio Limited (Registered number: 14298232)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Octa Audio limited Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 6 High Street, Wheathampstead, Hertfordshire, AL4 8AA.

The financial statements are presented in Sterling, which is the functional currency of the company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The 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.

Revenue recognition
Revenue represents the fair value of fees and expenses charges to clients excluding Value Added Tax (having regard to the fulfilment of contractual obligations).

Tangible fixed assets & depreciation
Tangible fixed assets are initially recorded at cost.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis.

Computer equipment - 25% on cost
Fittings & equipment - 25% on cost.

Taxation
Taxation represents the sum of currently payable and deferred tax.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operation profit.

Octa Audio Limited (Registered number: 14298232)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Dividends
Final ordinary dividends payable to shareholders of the Company are recognised in the period that they are approved by the shareholders. Interim ordinary dividends are recognised in the period that they are paid.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
Additions 316 16,648 16,964
Disposals (79 ) (4,162 ) (4,241 )
At 31 August 2023 237 12,486 12,723
DEPRECIATION
Charge for year 59 3,122 3,181
At 31 August 2023 59 3,122 3,181
NET BOOK VALUE
At 31 August 2023 178 9,364 9,542

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 19,404
Prepayments and accrued income 2,494
21,898

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Tax 9,810
Social security and other taxes 6,825
Directors' loan accounts 20,728
Accruals and deferred income 1,282
38,645

7. OWED TO THE DIRECTOR

At 31 August 2023 the directors were owed £20,728.