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Registration number: 03878184

Otter Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Otter Management Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Otter Management Limited

(Registration number: 03878184)
Statement of Financial Position as at 31 July 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

81,715

83,084

Cash at bank and in hand

 

380

393

 

82,095

83,477

Creditors: Amounts falling due within one year

5

(10,274)

(11,031)

Net assets

 

71,821

72,446

Capital and reserves

 

Called up share capital

5

5

Profit and loss account

71,816

72,441

Shareholders' funds

 

71,821

72,446

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 15 April 2024 and signed on its behalf by:
 


Mr W F De Falbe
Director

 

Otter Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Heddon Hall
Parracombe
Nr Barnstaple
Devon
EX31 4QL

Principal activity

The principal activity of the company is a dormant company.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Otter Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

7

81,710

83,079

Other debtors

 

5

5

 

81,715

83,084

 

Otter Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

-

678

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

9,519

9,519

Accruals and deferred income

 

600

678

Other creditors

 

155

156

 

10,274

11,031

6

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

7

Related party transactions

Transactions with directors

2023

At 1 August 2022
£

At 31 July 2023
£

Loan to directors

156

156

     
   

 

2022

At 1 August 2021
£

At 31 July 2022
£

Loan to directors

156

156