IRIS Accounts Production v23.3.0.418 06601604 director 1.6.22 31.5.23 31.5.23 false true false false false true false ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh066016042022-05-31066016042023-05-31066016042022-06-012023-05-31066016042021-05-31066016042021-06-012022-05-31066016042022-05-3106601604ns14:PoundSterlingns10:Original2022-06-012023-05-3106601604ns10:Originalns10:Director12022-06-012023-05-3106601604ns10:Original2022-06-012023-05-3106601604ns10:Original2023-05-3106601604ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3106601604ns10:Originalns10:SmallEntities2022-06-012023-05-3106601604ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3106601604ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3106601604ns10:Originalns10:FullAccounts2022-06-012023-05-3106601604ns10:Original12022-06-012023-05-3106601604ns10:Originalns10:OrdinaryShareClass12022-06-012023-05-3106601604ns10:CompanySecretary1ns10:Original2022-06-012023-05-3106601604ns10:Originalns10:RegisteredOffice2022-06-012023-05-3106601604ns10:Original2022-05-3106601604ns10:Originalns5:CurrentFinancialInstruments2023-05-3106601604ns10:Originalns5:CurrentFinancialInstruments2022-05-3106601604ns5:ShareCapitalns10:Original2023-05-3106601604ns5:ShareCapitalns10:Original2022-05-3106601604ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3106601604ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3106601604ns10:Originalns5:NetGoodwill2022-06-012023-05-3106601604ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-012023-05-3106601604ns10:Originalns5:PlantMachinery2022-06-012023-05-3106601604ns10:Original2021-06-012022-05-3106601604ns10:Originalns5:NetGoodwill2022-05-3106601604ns10:Originalns5:NetGoodwill2023-05-3106601604ns10:Originalns5:NetGoodwill2022-05-3106601604ns10:Originalns5:PlantMachinery2022-05-3106601604ns10:Originalns5:PlantMachinery2023-05-3106601604ns10:Originalns5:PlantMachinery2022-05-3106601604ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3106601604ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3106601604ns10:Originalns10:OrdinaryShareClass12023-05-3106601604ns10:Original1ns10:Director12022-05-3106601604ns10:Original1ns10:Director12021-05-3106601604ns10:Original1ns10:Director12022-06-012023-05-3106601604ns10:Original1ns10:Director12021-06-012022-05-3106601604ns10:Original1ns10:Director12023-05-3106601604ns10:Original1ns10:Director12022-05-31
REGISTERED NUMBER: 06601604















Unaudited Financial Statements for the Year Ended 31 May 2023

for

OT Wealth Limited

OT Wealth Limited (Registered number: 06601604)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


OT Wealth Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: N A Earl





SECRETARY: Mrs D J Earl





REGISTERED OFFICE: Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP





REGISTERED NUMBER: 06601604





ACCOUNTANTS: Havard & Associates
Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP

OT Wealth Limited (Registered number: 06601604)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,602 18,677
Tangible assets 5 431 1,251
26,033 19,928

CURRENT ASSETS
Debtors 6 7,367 26,552
Cash at bank 3,836 25,295
11,203 51,847
CREDITORS
Amounts falling due within one year 7 63,576 61,892
NET CURRENT LIABILITIES (52,373 ) (10,045 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(26,340

)

9,883

PROVISIONS FOR LIABILITIES 82 238
NET (LIABILITIES)/ASSETS (26,422 ) 9,645

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (26,522 ) 9,545
SHAREHOLDERS' FUNDS (26,422 ) 9,645

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

OT Wealth Limited (Registered number: 06601604)

Balance Sheet - continued
31 May 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 12 February 2024 and were signed by:





N A Earl - Director


OT Wealth Limited (Registered number: 06601604)

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

1. STATUTORY INFORMATION

OT Wealth Limited is a private company, limited by shares , registered in Not specified/Other. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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

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 - 20% on reducing balance

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
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

OT Wealth Limited (Registered number: 06601604)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022 20,752
Additions 10,000
At 31 May 2023 30,752
AMORTISATION
At 1 June 2022 2,075
Charge for year 3,075
At 31 May 2023 5,150
NET BOOK VALUE
At 31 May 2023 25,602
At 31 May 2022 18,677

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 7,120
DEPRECIATION
At 1 June 2022 5,869
Charge for year 820
At 31 May 2023 6,689
NET BOOK VALUE
At 31 May 2023 431
At 31 May 2022 1,251

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 7,367 26,552

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 20,000 15,000
Trade creditors 448 1,873
Taxation and social security 25,524 29,739
Other creditors 17,604 15,280
63,576 61,892

OT Wealth Limited (Registered number: 06601604)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 ordinary 100 100 100

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
N A Earl
Balance outstanding at start of year - 8,607
Amounts repaid - (8,607 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs D J Earl
Balance outstanding at start of year - 8,606
Amounts repaid - (8,606 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

If applicable, loans are unsecured and interest is charged at 2.5% per annum on a pro rata basis.