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Registered Number: 08607070
England and Wales

 

 

 

OTRADE CONSULTANTS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
Report to the directors on the preparation of the unaudited statutory accounts of Otrade Consultants Limited for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Otrade Consultants Limited for the year ended 31 July 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Otrade Consultants Limited, as a body, in accordance with the terms of our engagement letter dated 11 April 2024 Our work has been undertaken solely to prepare for your approval the accounts of Otrade Consultants Limited and state those matters that we have agreed to state to the Board of Directors of Otrade Consultants Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Otrade Consultants Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Otrade Consultants Limited 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 Otrade Consultants Limited. You consider that Otrade Consultants Limited 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 Otrade Consultants Limited. 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
31 July 2023



....................................................
JK ACCOUNTANTS
10 Woodbine Place
Wanstead
London
E11 2RH
11 April 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 374    2,655 
Investments 4 64,569    95,109 
64,943    97,764 
Current assets      
Debtors: amounts falling due within one year 2,592    731 
Debtors: amounts falling due after one year 643    12,744 
Cash at bank and in hand (4,406)   14,581 
(1,171)   28,056 
Creditors: amount falling due within one year (360)   (36,745)
Net current assets (1,531)   (8,689)
 
Total assets less current liabilities 63,412    89,075 
Net assets 63,412    89,075 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 63,312    88,975 
Shareholder's funds 63,412    89,075 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 11 April 2024 and were signed on its behalf by:


-------------------------------
Sanjay SASIDHARAN
Director
2
General Information
Otrade Consultants Limited is a private company, limited by shares, registered in England and Wales, registration number 08607070, registration address 65 Kenwood Gardens, Ilford,, Essex, IG2 6YG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 4 years Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 August 2022 9,532    9,532 
Additions  
Disposals  
At 31 July 2023 9,532    9,532 
Depreciation
At 01 August 2022 6,877    6,877 
Charge for year 2,281    2,281 
On disposals  
At 31 July 2023 9,158    9,158 
Net book values
Closing balance as at 31 July 2023 374    374 
Opening balance as at 01 August 2022 2,655    2,655 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 August 2022 95,109    95,109 
Additions (30,540)   (30,540)
Transfer to/from tangible fixed assets  
Disposals  
At 31 July 2023 64,569    64,569 

3