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Company Registration No. 12680337 (England and Wales)
Octane Solutions Ltd Unaudited accounts for the year ended 30 June 2023
Octane Solutions Ltd Unaudited accounts Contents
Page
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Octane Solutions Ltd Company Information for the year ended 30 June 2023
Director
STEWART, Gary Mark
Company Number
12680337 (England and Wales)
Registered Office
4 APARTMENT 4 STOCKWELL PARK WALK LONDON SW9 0FF ENGLAND
Accountants
Accounts and Legal Consultants Ltd Suite 1-3 The Hop Exchange 24 Southwark Street London SE1 1TY
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Octane Solutions Ltd Accountants' report
Accountants' report to the director of Octane Solutions Ltd on the preparation of the unaudited statutory accounts for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Octane Solutions Ltd for the year ended 30 June 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Octane Solutions Ltd, as a body, in accordance with the terms of our engagement letter dated 27 February 2021. Our work has been undertaken solely to prepare for your approval the accounts of Octane Solutions Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Octane Solutions Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Octane Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Octane Solutions Ltd. You consider that Octane Solutions Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Octane Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd Suite 1-3 The Hop Exchange 24 Southwark Street London SE1 1TY 25 January 2024
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Octane Solutions Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
145 
290 
Current assets
Debtors
30,641 
24,040 
Cash at bank and in hand
261 
960 
30,902 
25,000 
Creditors: amounts falling due within one year
(24,510)
(23,128)
Net current assets
6,392 
1,872 
Total assets less current liabilities
6,537 
2,162 
Creditors: amounts falling due after more than one year
(2,550)
- 
Net assets
3,987 
2,162 
Capital and reserves
Called up share capital
5 
5 
Profit and loss account
3,982 
2,157 
Shareholders' funds
3,987 
2,162 
For the year ending 30 June 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 director acknowledges his 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 and authorised for issue on 7 March 2024 and were signed on its behalf by
STEWART, Gary Mark Director Company Registration No. 12680337
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Octane Solutions Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Octane Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 12680337. The registered office is 4 APARTMENT, 4 STOCKWELL PARK WALK, LONDON, SW9 0FF, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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:
Computer equipment
25% Straight line
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 July 2022
580 
At 30 June 2023
580 
Depreciation
At 1 July 2022
290 
Charge for the year
145 
At 30 June 2023
435 
Net book value
At 30 June 2023
145 
At 30 June 2022
290 
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Octane Solutions Ltd Notes to the Accounts for the year ended 30 June 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,283 
Trade debtors
- 
152 
Accrued income and prepayments
30,209 
22,605 
Other debtors
432 
- 
30,641 
24,040 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
549 
- 
Trade creditors
6,584 
265 
Taxes and social security
3,545 
2,853 
Other creditors
- 
4,801 
Loans from directors
10,832 
15,209 
Accruals
3,000 
- 
24,510 
23,128 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
2,550 
- 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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