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REGISTERED NUMBER: 11451602 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2022 TO 29 APRIL 2023

FOR

OTP SECURITIES LIMITED

OTP SECURITIES LIMITED (REGISTERED NUMBER: 11451602)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2022 TO 29 APRIL 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 4


OTP SECURITIES LIMITED (REGISTERED NUMBER: 11451602)

STATEMENT OF FINANCIAL POSITION
29 APRIL 2023

29.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 2,325

CREDITORS
Amounts falling due within one year 5 - (34,863 )
NET CURRENT LIABILITIES - (34,863 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

(32,538

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (1 ) (32,539 )
- (32,538 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 April 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 April 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 February 2024 and were signed by:





O T Phillips - Director


OTP SECURITIES LIMITED (REGISTERED NUMBER: 11451602)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2022 TO 29 APRIL 2023


1. STATUTORY INFORMATION

OTP SECURITIES LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11451602

Registered office: Unit 9
Lewis House
3a - 3 School Lane
Ealing
London
NW10 6TD

The presentation currency of the financial statements is the Pound Sterling (£).


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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See tangible assets note for the carrying amount of the assets and the accounting policy for the useful economic lives for each class of assets.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% reducing balance

OTP SECURITIES LIMITED (REGISTERED NUMBER: 11451602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2022 TO 29 APRIL 2023


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2022 3,673
Disposals (3,673 )
At 29 April 2023 -
DEPRECIATION
At 1 May 2022 1,348
Charge for period 349
Eliminated on disposal (1,697 )
At 29 April 2023 -
NET BOOK VALUE
At 29 April 2023 -
At 30 April 2022 2,325

OTP SECURITIES LIMITED (REGISTERED NUMBER: 11451602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2022 TO 29 APRIL 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.4.23 30.4.22
£    £   
Bank loans and overdrafts - 32
Amounts owed to group undertakings - 34,831
- 34,863

6. RELATED PARTY DISCLOSURES

Transactions with directors are under normal market conditions and or not material.

The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies.

7. POST BALANCE SHEET EVENTS

There was no material events up to the date of approval of the financial statements by the board.

8. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of OTP Group Holdings Limited, a company registered in England and Wales.