Silverfin false false 30/09/2023 01/10/2022 30/09/2023 D J Bolle Jones 08/06/2021 N Calby 13/12/2016 A Lehner 14/11/2012 A R Snook 14/11/2012 26 March 2024 The principal activity of the Company during the financial year was property construction. 08293716 2023-09-30 08293716 bus:Director1 2023-09-30 08293716 bus:Director2 2023-09-30 08293716 bus:Director3 2023-09-30 08293716 bus:Director4 2023-09-30 08293716 2022-09-30 08293716 core:CurrentFinancialInstruments 2023-09-30 08293716 core:CurrentFinancialInstruments 2022-09-30 08293716 core:ShareCapital 2023-09-30 08293716 core:ShareCapital 2022-09-30 08293716 core:CapitalRedemptionReserve 2023-09-30 08293716 core:CapitalRedemptionReserve 2022-09-30 08293716 core:RetainedEarningsAccumulatedLosses 2023-09-30 08293716 core:RetainedEarningsAccumulatedLosses 2022-09-30 08293716 core:PlantMachinery 2022-09-30 08293716 core:Vehicles 2022-09-30 08293716 core:FurnitureFittings 2022-09-30 08293716 core:OfficeEquipment 2022-09-30 08293716 core:PlantMachinery 2023-09-30 08293716 core:Vehicles 2023-09-30 08293716 core:FurnitureFittings 2023-09-30 08293716 core:OfficeEquipment 2023-09-30 08293716 2022-10-01 2023-09-30 08293716 bus:FilletedAccounts 2022-10-01 2023-09-30 08293716 bus:SmallEntities 2022-10-01 2023-09-30 08293716 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 08293716 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 08293716 bus:Director1 2022-10-01 2023-09-30 08293716 bus:Director2 2022-10-01 2023-09-30 08293716 bus:Director3 2022-10-01 2023-09-30 08293716 bus:Director4 2022-10-01 2023-09-30 08293716 core:PlantMachinery core:TopRangeValue 2022-10-01 2023-09-30 08293716 core:Vehicles core:TopRangeValue 2022-10-01 2023-09-30 08293716 core:FurnitureFittings core:TopRangeValue 2022-10-01 2023-09-30 08293716 core:OfficeEquipment core:TopRangeValue 2022-10-01 2023-09-30 08293716 2021-10-01 2022-09-30 08293716 core:PlantMachinery 2022-10-01 2023-09-30 08293716 core:Vehicles 2022-10-01 2023-09-30 08293716 core:FurnitureFittings 2022-10-01 2023-09-30 08293716 core:OfficeEquipment 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Company No: 08293716 (England and Wales)

OTTER CONSTRUCT LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

OTTER CONSTRUCT LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

OTTER CONSTRUCT LIMITED

BALANCE SHEET

As at 30 September 2023
OTTER CONSTRUCT LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 52,606 9,555
52,606 9,555
Current assets
Stocks 4 4,774,510 3,318,595
Debtors 5 520,250 1,103,596
Cash at bank and in hand 2,645,469 3,068,983
7,940,229 7,491,174
Creditors: amounts falling due within one year 6 ( 721,473) ( 1,148,859)
Net current assets 7,218,756 6,342,315
Total assets less current liabilities 7,271,362 6,351,870
Provision for liabilities ( 11,573) ( 2,389)
Net assets 7,259,789 6,349,481
Capital and reserves
Called-up share capital 189 189
Capital redemption reserve 27 27
Profit and loss account 7,259,573 6,349,265
Total shareholders' funds 7,259,789 6,349,481

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Otter Construct Limited (registered number: 08293716) were approved and authorised for issue by the Director on 26 March 2024. They were signed on its behalf by:

A Lehner
Director
OTTER CONSTRUCT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
OTTER CONSTRUCT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Otter Construct Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
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 financial statements. 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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 4 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 October 2022 61,321 54,265 5,633 2,229 123,448
Additions 37,690 22,527 0 441 60,658
At 30 September 2023 99,011 76,792 5,633 2,670 184,106
Accumulated depreciation
At 01 October 2022 58,660 48,149 5,633 1,451 113,893
Charge for the financial year 9,802 7,524 0 281 17,607
At 30 September 2023 68,462 55,673 5,633 1,732 131,500
Net book value
At 30 September 2023 30,549 21,119 0 938 52,606
At 30 September 2022 2,661 6,116 0 778 9,555

4. Stocks

2023 2022
£ £
Work in progress 4,774,510 3,318,595

5. Debtors

2023 2022
£ £
Other debtors 520,250 1,103,596

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 237,388 209,930
Taxation and social security 292,011 106,914
Other creditors 192,074 832,015
721,473 1,148,859