Registered number
09679908
OTL MIDLANDS LTD
Filleted Abridged Accounts
30 June 2023
OTL MIDLANDS LTD
Registered number: 09679908
Abridged Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,480 -
Current assets
Debtors 112,925 120,542
Cash at bank and in hand 19,119 6,642
132,044 127,184
Creditors: amounts falling due within one year (68,025) (65,915)
Net current assets 64,019 61,269
Total assets less current liabilities 68,499 61,269
Creditors: amounts falling due after more than one year (27,078) (37,956)
Net assets 41,421 23,313
Capital and reserves
Called up share capital 100 100
Profit and loss account 41,321 23,213
Shareholder's funds 41,421 23,313
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account 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) of the Companies Act 2006.
Mohinder Kaur Rahl
Director
Approved by the board on 20 February 2024
OTL MIDLANDS LTD
Notes to the Abridged Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 30 32
3 Tangible fixed assets
Total
£
Cost
Additions 5,600
At 30 June 2023 5,600
Depreciation
Charge for the year 1,120
At 30 June 2023 1,120
Net book value
At 30 June 2023 4,480
4 Related party transactions
No related party transactions and no guarantee made by the company during the year.
5 Controlling party
The compnay was under the control of Mohinder Kaur Rahl durign the year.
6 Other information
OTL MIDLANDS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Partnership House
Shale Street
Bilston
WV14 0HF
OTL MIDLANDS LTD 09679908 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 Mohinder Kaur Rahl No description of principal activity 09679908 2021-07-01 2022-06-30 09679908 core:WithinOneYear 2022-06-30 09679908 core:AfterOneYear 2022-06-30 09679908 core:ShareCapital 2022-06-30 09679908 core:RetainedEarningsAccumulatedLosses 2022-06-30 09679908 2022-07-01 2023-06-30 09679908 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 09679908 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 09679908 bus:Director40 2022-07-01 2023-06-30 09679908 1 2022-07-01 2023-06-30 09679908 2 2022-07-01 2023-06-30 09679908 countries:England 2022-07-01 2023-06-30 09679908 bus:FRS102 2022-07-01 2023-06-30 09679908 bus:AbridgedAccounts 2022-07-01 2023-06-30 09679908 2023-06-30 09679908 core:WithinOneYear 2023-06-30 09679908 core:AfterOneYear 2023-06-30 09679908 core:ShareCapital 2023-06-30 09679908 core:RetainedEarningsAccumulatedLosses 2023-06-30 09679908 2022-06-30 iso4217:GBP xbrli:pure