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Company Registration No. 09951726 (England and Wales)
HELLO OTTO LTD Unaudited accounts for the year ended 31 July 2023
HELLO OTTO LTD Unaudited accounts Contents
Page
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HELLO OTTO LTD Company Information for the year ended 31 July 2023
Directors
M Greenwood Miss J Wallbridge
Secretary
M Greenwood
Company Number
09951726 (England and Wales)
Registered Office
Orion House Axis 4-5 Woodlands Bradley Stoke Bristol BS32 4JT
Accountants
Streets Steele Limited Orion House, Axis 4/5 Woodlands, Bradley Stoke Bristol BS32 4JT
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HELLO OTTO LTD Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,194 
2,218 
Current assets
Inventories
1,500 
12,000 
Debtors
1,039 
4,744 
Cash at bank and in hand
2,719 
5,231 
5,258 
21,975 
Creditors: amounts falling due within one year
(8,082)
(18,626)
Net current (liabilities)/assets
(2,824)
3,349 
Total assets less current liabilities
370 
5,567 
Creditors: amounts falling due after more than one year
(3,581)
(4,950)
Provisions for liabilities
Deferred tax
(607)
(421)
Net (liabilities)/assets
(3,818)
196 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(3,918)
96 
Shareholders' funds
(3,818)
196 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by
M Greenwood Director Company Registration No. 09951726
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HELLO OTTO LTD Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
HELLO OTTO LTD is a private company, limited by shares, registered in England and Wales, registration number 09951726. The registered office is Orion House Axis 4-5, Woodlands, Bradley Stoke, Bristol, BS32 4JT.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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
15% reducing balance
Computer equipment
4 year straight line
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.
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HELLO OTTO LTD Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
3,402 
423 
3,825 
Additions
325 
1,166 
1,491 
At 31 July 2023
3,727 
1,589 
5,316 
Depreciation
At 1 August 2022
1,563 
44 
1,607 
Charge for the year
296 
219 
515 
At 31 July 2023
1,859 
263 
2,122 
Net book value
At 31 July 2023
1,868 
1,326 
3,194 
At 31 July 2022
1,839 
379 
2,218 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
328 
2,864 
Amounts falling due after more than one year
Accrued income and prepayments
711 
1,880 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
1,700 
1,700 
VAT
2,482 
1,012 
Obligations under finance leases and hire purchase contracts
417 
- 
Trade creditors
949 
2,383 
Taxes and social security
10,833 
12,369 
Other creditors
6,012 
767 
Loans from directors
(14,380)
57 
Accruals
69 
338 
8,082 
18,626 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
3,015 
4,950 
Obligations under finance leases and hire purchase contracts
566 
- 
3,581 
4,950 
8
Transactions with related parties
At the balance sheet date the Director owed the company £14,380 (2022: £58 owed by the company). This loan is unsecured, interest free and repayable on demand.
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HELLO OTTO LTD Notes to the Accounts for the year ended 31 July 2023
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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