Company Registration No. 12689166 (England and Wales)
OBSERVATREE LTD
Unaudited accounts
for the year ended 30 June 2023
OBSERVATREE LTD
Unaudited accounts
Contents
OBSERVATREE LTD
Company Information
for the year ended 30 June 2023
Company Number
12689166 (England and Wales)
Registered Office
20-22 WENLOCK ROAD
LONDON
N1 7GU
ENGLAND
Accountants
Kaushik Khiroya, AFA
LMK ACCOUNTING LTD
THE GATEHOUSE
GATEHOUSE WAY
AYLESBURY
HP19 8DB
OBSERVATREE LTD
Statement of financial position
as at 30 June 2023
Tangible assets
2,573
3,217
Cash at bank and in hand
31,115
44,151
Creditors: amounts falling due within one year
(8,463)
(11,150)
Net current assets
22,652
33,001
Called up share capital
1
1
Profit and loss account
25,224
36,217
Shareholders' funds
25,225
36,218
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 18 March 2024 and were signed on its behalf by
C Dias
Director
Company Registration No. 12689166
OBSERVATREE LTD
Notes to the Accounts
for the year ended 30 June 2023
OBSERVATREE LTD is a private company, limited by shares, registered in England and Wales, registration number 12689166. The registered office is 20-22 WENLOCK ROAD, LONDON, N1 7GU, 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.
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 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
Reducing balance - 20%
Computer equipment
Reducing balance - 20%
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
OBSERVATREE LTD
Notes to the Accounts
for the year ended 30 June 2023
Financial instruments are classified by the directors as basic or advanced following the condiTions in FRS 102 section 11.
Basic financial instruments, which include trade and other receivables and payables, cash and bank balances, are amortised at cost.
Advanced financial instruments which include interest rate swap and forward foreign exchange contracts, are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2022
1,547
2,474
4,021
At 30 June 2023
1,547
2,474
4,021
At 1 July 2022
309
495
804
Charge for the year
248
396
644
At 30 June 2023
557
891
1,448
At 30 June 2023
990
1,583
2,573
At 30 June 2022
1,238
1,979
3,217
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
1,166
1,188
Loans from directors
4,756
9,271
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Average number of employees
During the year the average number of employees was 1 (2022: 1).