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REGISTERED NUMBER: 12736228 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Otis & Belle Ltd

Otis & Belle Ltd (Registered number: 12736228)

Contents of the Financial Statements
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Otis & Belle Ltd

Company Information
for the year ended 31 July 2023







DIRECTOR: W R Alexander





REGISTERED OFFICE: Kenton House
Oxford Street
Moreton-in-Marsh
Gloucestershire
GL56 0LA





REGISTERED NUMBER: 12736228 (England and Wales)





ACCOUNTANTS: Tayabali Tomlin
Chartered Accountants
Kenton House
Oxford Street
Moreton-in-Marsh
Gloucestershire
GL56 0LA

Otis & Belle Ltd (Registered number: 12736228)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 74,572 65,549
Investments 5 100 -
74,672 65,549

CURRENT ASSETS
Stocks 4,000 4,423
Debtors 6 37,373 19,072
Cash at bank and in hand 7,355 7,284
48,728 30,779
CREDITORS
Amounts falling due within one year 7 42,631 27,107
NET CURRENT ASSETS 6,097 3,672
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,769

69,221

CREDITORS
Amounts falling due after more than one
year

8

(42,862

)

(52,192

)

PROVISIONS FOR LIABILITIES (9,210 ) (3,479 )
NET ASSETS 28,697 13,550

Otis & Belle Ltd (Registered number: 12736228)

Balance Sheet - continued
31 July 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 28,597 13,450
28,697 13,550

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 9 February 2024 and were signed by:





W R Alexander - Director


Otis & Belle Ltd (Registered number: 12736228)

Notes to the Financial Statements
for the year ended 31 July 2023


1. STATUTORY INFORMATION

Otis & Belle Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - in accordance with the property
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Otis & Belle Ltd (Registered number: 12736228)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 12 ) .

Otis & Belle Ltd (Registered number: 12736228)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2022 10,992 33,140 35,983
Additions - 8,733 184
At 31 July 2023 10,992 41,873 36,167
DEPRECIATION
At 1 August 2022 4,398 5,643 15,400
Charge for year 2,199 3,623 5,192
At 31 July 2023 6,597 9,266 20,592
NET BOOK VALUE
At 31 July 2023 4,395 32,607 15,575
At 31 July 2022 6,594 27,497 20,583

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022 12,264 1,708 94,087
Additions 18,999 25 27,941
At 31 July 2023 31,263 1,733 122,028
DEPRECIATION
At 1 August 2022 1,959 1,138 28,538
Charge for year 7,326 578 18,918
At 31 July 2023 9,285 1,716 47,456
NET BOOK VALUE
At 31 July 2023 21,978 17 74,572
At 31 July 2022 10,305 570 65,549

Otis & Belle Ltd (Registered number: 12736228)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 18,999
At 31 July 2023 18,999
DEPRECIATION
Charge for year 4,750
At 31 July 2023 4,750
NET BOOK VALUE
At 31 July 2023 14,249

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 100
At 31 July 2023 100
NET BOOK VALUE
At 31 July 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,391 4,869
Other debtors 9,982 14,203
37,373 19,072

Otis & Belle Ltd (Registered number: 12736228)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 6,158 2,818
Trade creditors 7,995 9,542
Taxation and social security 16,535 9,023
Other creditors 11,943 5,724
42,631 27,107

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 12,862 2,192
Other creditors 30,000 50,000
42,862 52,192

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 6,158 2,818
Between one and five years 12,862 2,192
19,020 5,010

Non-cancellable operating leases
2023 2022
£    £   
Within one year 14,000 14,000
Between one and five years 14,000 28,000
28,000 42,000

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 (2022 - £10,000) were paid to the director .

Otis & Belle Ltd (Registered number: 12736228)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


10. RELATED PARTY DISCLOSURES - continued

Included within creditors is a director's current account in the sum of £35,388 (2022: £53,698). The account is unsecured, interest free and carries no fixed date of repayment.