Company Registration No. 09951726 (England and Wales)
HELLO OTTO LTD
Unaudited accounts
for the year ended 31 July 2023
HELLO OTTO LTD
Unaudited accounts
Contents
HELLO OTTO LTD
Company Information
for the year ended 31 July 2023
Directors
M Greenwood
Miss J Wallbridge
Company Number
09951726 (England and Wales)
Registered Office
Orion House Axis 4-5
Woodlands
Bradley Stoke
Bristol
BS32 4JT
Accountants
Streets Steele Limited
Orion House, Axis 4/5
Woodlands, Bradley Stoke
Bristol
BS32 4JT
HELLO OTTO LTD
Statement of financial position
as at 31 July 2023
Tangible assets
3,194
2,218
Cash at bank and in hand
2,719
5,231
Creditors: amounts falling due within one year
(8,082)
(18,626)
Net current (liabilities)/assets
(2,824)
3,349
Total assets less current liabilities
370
5,567
Creditors: amounts falling due after more than one year
(3,581)
(4,950)
Provisions for liabilities
Net (liabilities)/assets
(3,818)
196
Called up share capital
100
100
Profit and loss account
(3,918)
96
Shareholders' funds
(3,818)
196
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by
M Greenwood
Director
Company Registration No. 09951726
HELLO OTTO LTD
Notes to the Accounts
for the year ended 31 July 2023
HELLO OTTO LTD is a private company, limited by shares, registered in England and Wales, registration number 09951726. The registered office is Orion House Axis 4-5, Woodlands, Bradley Stoke, Bristol, BS32 4JT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Computer equipment
4 year straight line
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Current and deferred tax assets and liabilities are not discounted.
HELLO OTTO LTD
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2022
3,402
423
3,825
At 31 July 2023
3,727
1,589
5,316
At 1 August 2022
1,563
44
1,607
Charge for the year
296
219
515
At 31 July 2023
1,859
263
2,122
At 31 July 2023
1,868
1,326
3,194
At 31 July 2022
1,839
379
2,218
Amounts falling due within one year
Amounts falling due after more than one year
Accrued income and prepayments
711
1,880
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
1,700
1,700
Obligations under finance leases and hire purchase contracts
417
-
Taxes and social security
10,833
12,369
Loans from directors
(14,380)
57
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
566
-
8
Transactions with related parties
At the balance sheet date the Director owed the company £14,380 (2022: £58 owed by the company). This loan is unsecured, interest free and repayable on demand.
HELLO OTTO LTD
Notes to the Accounts
for the year ended 31 July 2023
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).