Company Registration No. 09329893 (England and Wales)
Outsized Limited
Unaudited accounts
for the year ended 31 December 2023
Outsized Limited
Unaudited accounts
Contents
Outsized Limited
Company Information
for the year ended 31 December 2023
Directors
Niclas Arne Svensson Thelander
Anurag Bhalla
Peter George David Sayburn
Company Number
09329893 (England and Wales)
Registered Office
Unit 2.05
12-18 Hoxton Street
London
N1 6NG
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
Outsized Limited
Statement of financial position
as at 31 December 2023
Intangible assets
97,047
83,620
Investments
397,153
375,153
Cash at bank and in hand
1,646,034
50,403
Creditors: amounts falling due within one year
930
(10,965)
Net current assets
2,059,057
245,080
Total assets less current liabilities
2,554,165
703,935
Creditors: amounts falling due after more than one year
(33,497)
(525,895)
Net assets
2,520,668
178,040
Called up share capital
398
254
Share premium
3,857,540
973,331
Capital contribution reserve
-
62,891
Profit and loss account
(1,337,270)
(858,436)
Shareholders' funds
2,520,668
178,040
For the year ending 31 December 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 29 July 2024 and were signed on its behalf by
Niclas Arne Svensson Thelander
Director
Company Registration No. 09329893
Outsized Limited
Notes to the Accounts
for the year ended 31 December 2023
Outsized Limited is a private company, limited by shares, registered in England and Wales, registration number 09329893. The registered office is Unit 2.05, 12-18 Hoxton Street, London, N1 6NG.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
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 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.
Investments in shares are included at fair value.
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:
Computer equipment
20% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. The period over which these intangible fixed assets have been amortised are over 3 years.
Research expenditure is written off in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is capitalised within intangible assets and amortised when ready for use.
During the financial year, Outsized Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Income Statement in line with disclosure requirements under FRS 102.
Outsized Limited
Notes to the Accounts
for the year ended 31 December 2023
Research and development tax credit
During the financial year, Outsized Ltd received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Intangible fixed assets
Other
At 31 December 2023
282,009
Charge for the year
50,027
At 31 December 2023
184,962
At 31 December 2023
97,047
At 31 December 2022
83,620
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Tangible fixed assets
Computer equipment
Outsized Limited
Notes to the Accounts
for the year ended 31 December 2023
6
Investments
Subsidiary undertakings
Valuation at 1 January 2023
375,153
Valuation at 31 December 2023
397,153
The company's investments at the balance sheet date comprise 99.03% share capital of Outsized India Pvt Ltd & 100% share capital of Outsized South Africa Pty and Outsized Singapore Pte. Ltd.
Amounts falling due within one year
Amounts due from group undertakings etc.
393,624
136,791
Accrued income and prepayments
334
5,745
Other debtors
16,606
18,625
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,701
5,567
Trade creditors
7,071
14,957
Taxes and social security
4,178
4,178
Loans from directors
(8,534)
(13,737)
9
Creditors: amounts falling due after more than one year
2023
2022
Non-equity preference shares
-
486,702
Outsized Limited
Notes to the Accounts
for the year ended 31 December 2023
Allotted, called up and fully paid:
30,600 Ordinary shares of £0.01 each
306.00
254.36
9,241 Series A Preferred shares of £0.01 each
92.41
-
Shares issued during the period:
5,164 Ordinary shares of £0.01 each
51.64
9,241 Series A Preferred shares of £0.01 each
92.41
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Niclas Arne Svensson Thelander
Director's Loan
114
127
-
241
Director's Loan
13,623
33
5,362
8,294
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Transactions with related parties
At the year end, the following amounts are owed by subsidiaries of Outsized Limited:
- Outsized South Africa (Pty) Ltd: £68,691 (2022: £8,000)
- Outsized India Private Ltd: £92,068 (2022 - 27,291.88)
- Outsized Singapore : £232,865 (2022 - £101,499)
The loans are interest free and repayable on demand.
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Average number of employees
During the year the average number of employees was 0 (2022: 0).