Company registration number 08607967 (England and Wales)
OCTOPLUS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
OCTOPLUS LIMITED
COMPANY INFORMATION
Directors
Mr A M Holt
Mrs V Hargreaves
Company number
08607967
Registered office
Pendle Court
and business address
4 Mead Way Shuttleworth Mead Business Park
Padiham
Burnley
Lancashire
BB12 7NG
Accountants
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
OCTOPLUS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OCTOPLUS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
3
3
Current assets
Stocks
13,453
13,453
Debtors
5
59,999
59,999
Cash at bank and in hand
2,516
2,516
75,968
75,968
Creditors: amounts falling due within one year
6
(138,288)
(138,288)
Net current liabilities
(62,320)
(62,320)
Net liabilities
(62,317)
(62,317)
Capital and reserves
Called up share capital
7
1
1
Share premium account
89,999
89,999
Profit and loss reserves
(152,317)
(152,317)
Total equity
(62,317)
(62,317)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 2 August 2024 and are signed on its behalf by:
Mr A M Holt
Director
Company registration number 08607967 (England and Wales)
OCTOPLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Octoplus Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendle Court, 4 Mead Way Shuttleworth Mead Business Park, Padiham, Burnley, Lancashire, BB12 7NG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention. The principal accounting policies are set out below.
The financial statements are consolidated in the financial statements of 0404 Investments Limited. These financial statements are available from its registered office: Pendle Court, 4 Mead Way Shuttleworth Mead Business Park, Padiham, Burnley, Lancashire, BB12 7NG.
1.2
Going concern
The company is dependent upon the ongoing financial support of a fellow subsidiary undertaking, What More UK Limited.
The directors of What More UK Limited have indicated that financial support will continue to be made available to the company for the foreseeable future.
The directors therefore consider that in preparing the financial statements they have taken into account all the information that could reasonably be expected to be available.
On this basis, they consider that it is appropriate to prepare the financial statements on the going concern basis.
1.3
Intangible fixed assets
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Given the value of the goodwill in the company, it is not deemed appropriate to amortise the cost over any period.
Plant and machinery
20% straight line to 10% residual value
Fixtures, fittings & equipment
15% straight line
Website and office equipment
25% and 33.33% straight line
Moulds
20% straight line to 10% residual value
1.4
Stocks
Stocks are valued at the lower of cost and net realisable value after making provision for obsolete and slow-moving stocks.
1.5
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 current liabilities.
OCTOPLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
There were no employees during the year apart from the directors.
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
1
2
3
Amortisation and impairment
At 1 January 2023 and 31 December 2023
Carrying amount
At 31 December 2023
1
2
3
At 31 December 2022
1
2
3
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
77,875
Depreciation and impairment
At 1 January 2023 and 31 December 2023
77,875
Carrying amount
At 31 December 2023
At 31 December 2022
OCTOPLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
59,999
59,999
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts due to group undertakings
135,903
135,903
Other creditors
2,385
2,385
138,288
138,288
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary Share of £1 each
1
1
8
Parent company
The ultimate parent company is 0404 Investments Limited which is under the control of the director, Mr A M Holt, by virtue of his shareholding in that company.