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Registered Number: 13035305
England and Wales

 

 

 

OCTO FINANCIAL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Director Asif Ali
Registered Number 13035305
Registered Office Suite 134 Challenge House Business Centre
616 Mitcham Road
Croydon
Surrey
CR0 3AA
Accountants ASK ACCOUNTANTS UK LIMITED
178
Merton High Street
London
SW19 1AY
1
  2023   2022
    £ £   £ £
Fixed assets   6,789      8,024 
Current assets 23,019      23,601   
Creditors: amount falling due within one year (4,901)     (4,347)  
Net current assets   18,118      19,254 
Total assets less current liabilities   24,907      27,278 
Creditors: amount falling due after more than one year   (23,541)     (27,141)
Net assets   1,366      137 
 

         
Capital and reserves   1,366      137 
 
NOTES TO THE ACCOUNTS

General Information
OCTO FINANCIAL LTD is a private company, limited by shares, registered in England and Wales, registration number 13035305, registration address Suite 134 Challenge House Business Centre, 616 Mitcham Road, Croydon, Surrey, CR0 3AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Straight Line
Computer Equipment 20% Straight Line
2.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 December 2022 7,600    1,149    8,749 
Additions   552    552 
Disposals    
At 30 November 2023 7,600    1,701    9,301 
Depreciation
At 01 December 2022 450    275    725 
Charge for year 1,520    267    1,787 
On disposals    
At 30 November 2023 1,970    542    2,512 
Net book values
Closing balance as at 30 November 2023 5,630    1,159    6,789 
Opening balance as at 01 December 2022 7,150    874    8,024 


3.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 23 August 2024 and were signed by:


--------------------------------
Asif Ali
Director
2