Registered number
14328826
OTP LOCUMS LTD
Filleted Accounts
31 March 2023
OTP LOCUMS LTD
Registered number: 14328826
Balance Sheet
as at 31 March 2023
Notes 2023
£
Fixed assets
Tangible assets 3 1,080
Current assets
Cash at bank and in hand 14,375
Creditors: amounts falling due within one year 4 (10,534)
Net current assets 3,841
Net assets 4,921
Capital and reserves
Called up share capital 100
Profit and loss account 4,821
Shareholder's funds 4,921
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.
OSAMA TAHIR
Director
Approved by the board on 10 November 2023
OTP LOCUMS LTD
Notes to the Accounts
for the period from 31 August 2022 to 31 March 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:
Plant and machinery over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2023
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
Additions 1,200 - 1,200
At 31 March 2023 1,200 - 1,200
Depreciation
Charge for the period 120 - 120
At 31 March 2023 120 - 120
Net book value
At 31 March 2023 1,080 - 1,080
4 Creditors: amounts falling due within one year 2023
£
Non-equity preference shares 3,124
Taxation and social security costs 2,050
Other creditors 5,360
10,534
5 Controlling party
The company is under the full control of the director, by virtue of them owning the fully issued share capital.
6 Other information
OTP LOCUMS LTD is a private company limited by shares and incorporated in England. Its registered office is:
14 ST BRANNOCKS ROAD
MANCHESTER
M21 0UP
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