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REGISTERED NUMBER: 05418176 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

OFFICE TEST LTD

OFFICE TEST LTD (REGISTERED NUMBER: 05418176)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OFFICE TEST LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: S C Flowers





REGISTERED OFFICE: New Penderel House
283-288 High Holborn
London
WC1V 7HP





REGISTERED NUMBER: 05418176 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

OFFICE TEST LTD (REGISTERED NUMBER: 05418176)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 58,681 38,551
58,681 38,551

CURRENT ASSETS
Stocks 6 63,245 45,510
Debtors 7 1,234,147 1,177,251
Cash at bank and in hand 685,166 681,293
1,982,558 1,904,054
CREDITORS
Amounts falling due within one year 8 1,074,857 1,358,163
NET CURRENT ASSETS 907,701 545,891
TOTAL ASSETS LESS CURRENT
LIABILITIES

966,382

584,442

CREDITORS
Amounts falling due after more than one year 9 (291,667 ) (436,246 )

PROVISIONS FOR LIABILITIES 12 (14,102 ) (6,810 )
NET ASSETS 660,613 141,386

CAPITAL AND RESERVES
Called up share capital 13 1 1
Retained earnings 660,612 141,385
SHAREHOLDERS' FUNDS 660,613 141,386

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

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

The director acknowledges his 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.

OFFICE TEST LTD (REGISTERED NUMBER: 05418176)

BALANCE SHEET - continued
31 MARCH 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 director and authorised for issue on 20 November 2023 and were signed by:





S C Flowers - Director


OFFICE TEST LTD (REGISTERED NUMBER: 05418176)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Office Test 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.

Turnover
Turnover represents net invoiced sales of services, excluding Value Added Tax.

Turnover is recognised at the point at which the company has fulfilled its contractual obligations to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, was amortised over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at costs less any accumulated amortisation and any accumulated impairment losses.

Patents and licences were amortised evenly over their estimated useful life of two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.33% on cost, 25% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value.

Cost is defined as the actual cost of goods to be sold.

Net realisable value is defined as the expected selling price less estimated selling costs.

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 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.

OFFICE TEST LTD (REGISTERED NUMBER: 05418176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Invoice discount facility
The company uses an invoice discount facility and retains all significant benefits and risks relating to debts. The gross amount of the debts are included within assets and a corresponding liability in respect of proceeds received from the facility are shown within liabilities. The interest and charges are recognised as they accrue and are included in the profit and loss account with other interest charges.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2022 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 699 11,158 11,857
AMORTISATION
At 1 April 2022
and 31 March 2023 699 11,158 11,857
NET BOOK VALUE
At 31 March 2023 - - -
At 31 March 2022 - - -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 433,534
Additions 53,587
At 31 March 2023 487,121
DEPRECIATION
At 1 April 2022 394,983
Charge for year 33,457
At 31 March 2023 428,440
NET BOOK VALUE
At 31 March 2023 58,681
At 31 March 2022 38,551

OFFICE TEST LTD (REGISTERED NUMBER: 05418176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 63,245 45,510

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 904,510 884,910
Other debtors 329,637 292,341
1,234,147 1,177,251

Invoice discounted debts included within trade debtors amount to £660,442 (2022 - £729,847).

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 141,985 176,702
Trade creditors 243,094 256,003
Taxation and social security 497,884 449,934
Other creditors 191,894 475,524
1,074,857 1,358,163

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 291,667 436,246

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 16,724 141,960
Between one and five years - 16,724
16,724 158,684

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 433,652 612,948
Invoice discounting 181,084 455,280
614,736 1,068,228

The bank facilities are secured over the assets of the company.

OFFICE TEST LTD (REGISTERED NUMBER: 05418176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


12. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 14,102 6,810

Deferred
tax
£   
Balance at 1 April 2022 6,810
Provided during year 7,292
Balance at 31 March 2023 14,102

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1 Ordinary £1 1 1

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Director
Balance outstanding at start of year 104,812 118,117
Amounts advanced 348,959 98,747
Amounts repaid (320,124 ) (112,052 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 133,647 104,812

Interest is charged on the loan at 2.5% per annum.