Company No:
Contents
DIRECTOR | Mr H T Rowley |
REGISTERED OFFICE | Centenary House Peninsula Park |
Rydon Lane | |
Exeter | |
EX2 7XE | |
United Kingdom |
BUSINESS ADDRESS | 1 Cumberland Gardens |
London | |
WC1X 9AF |
COMPANY NUMBER | 13211616 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Centenary House | |
Peninsula Park | |
Rydon Lane | |
Exeter | |
Devon EX2 7XE |
Note | 28.02.2023 | 28.02.2022 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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506 | 675 | |||
Current assets | ||||
Stocks | 4 |
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Debtors | 5 |
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Cash at bank and in hand |
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9,434 | 2,304 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (16,842) | (4,513) | ||
Total assets less current liabilities | (16,336) | (3,838) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of Ortac Press Limited (registered number:
Mr H T Rowley
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Ortac Press Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is 1 Cumberland Gardens, London, WC1X 9AF.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Website costs |
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All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Year ended 28.02.2023 |
Period from 18.02.2021 to 28.02.2022 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Website costs | Total | ||
£ | £ | ||
Cost | |||
At 01 March 2022 |
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At 28 February 2023 |
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Accumulated amortisation | |||
At 01 March 2022 |
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Charge for the financial year |
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At 28 February 2023 |
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Net book value | |||
At 28 February 2023 |
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At 28 February 2022 |
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28.02.2023 | 28.02.2022 | ||
£ | £ | ||
Stocks |
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Work in progress |
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28.02.2023 | 28.02.2022 | ||
£ | £ | ||
Prepayments |
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Other debtors |
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28.02.2023 | 28.02.2022 | ||
£ | £ | ||
Amounts owed to director |
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Accruals and deferred income |
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28.02.2023 | 28.02.2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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