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Company No: 06002939 (England and Wales)

OTTERTOTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

OTTERTOTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

OTTERTOTS LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2023
OTTERTOTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2023
DIRECTORS Mrs A E Rowcliffe
Mrs A R Williams
SECRETARY Mrs A E Rowcliffe
REGISTERED OFFICE East Hill
Ottery St Mary
EX11 1QH
United Kingdom
COMPANY NUMBER 06002939 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
OTTERTOTS LIMITED

BALANCE SHEET

As at 30 November 2023
OTTERTOTS LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,922,984 1,955,747
1,922,984 1,955,747
Current assets
Stocks 1,791 1,628
Debtors 4 169,465 216,763
Cash at bank and in hand 193,542 160,776
364,798 379,167
Creditors: amounts falling due within one year 5 ( 281,779) ( 267,154)
Net current assets 83,019 112,013
Total assets less current liabilities 2,006,003 2,067,760
Creditors: amounts falling due after more than one year 6 ( 360,852) ( 439,910)
Provision for liabilities ( 42,100) ( 42,800)
Net assets 1,603,051 1,585,050
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 1,603,049 1,585,048
Total shareholders' funds 1,603,051 1,585,050

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

Directors' responsibilities:

The financial statements of Ottertots Limited (registered number: 06002939) were approved and authorised for issue by the Board of Directors on 27 August 2024. They were signed on its behalf by:

Mrs A R Williams
Director
OTTERTOTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
OTTERTOTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ottertots Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is East Hill, Ottery St Mary, EX11 1QH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

There are no material departures from FRS 102.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 25 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

During the year, the company received cash grant of £Nil (2022 - £6,399) under the Coronavirus Job Retention Scheme.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 80 80

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 December 2022 1,989,879 337,245 82,046 66,761 10,763 2,486,694
Additions 0 30,670 0 6,301 0 36,971
At 30 November 2023 1,989,879 367,915 82,046 73,062 10,763 2,523,665
Accumulated depreciation
At 01 December 2022 195,122 256,944 18,749 50,162 9,970 530,947
Charge for the financial year 24,349 27,750 12,659 4,578 398 69,734
At 30 November 2023 219,471 284,694 31,408 54,740 10,368 600,681
Net book value
At 30 November 2023 1,770,408 83,221 50,638 18,322 395 1,922,984
At 30 November 2022 1,794,757 80,301 63,297 16,599 793 1,955,747

4. Debtors

2023 2022
£ £
Amounts owed by directors 85,263 136,849
Prepayments 18,686 18,739
Other debtors 65,516 61,175
169,465 216,763

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 82,363 84,778
Accruals 9,721 10,421
Taxation and social security 189,695 168,843
Other creditors 0 3,112
281,779 267,154

Included in the total bank borrowings due within one year at the period end is £82,363 (2022 - £84,778) on which the following security has been provided:

A legal charge over the company freehold property.

An unlimited company debenture.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 360,852 439,910

Included in the total bank borrowings due after more than one year at the period end is £360,852 (2022 - £439,910) on which the following security has been provided:

A legal charge over the company freehold property.

An unlimited company debenture.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Bank loans 56,827 95,208

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Balance owed by Director 1 61,023 103,897
Balance owed by Director 2 (21,984) 32,952

During the year, £58,427 (2022: £32,447) was advanced to Director 1 and £101,301 (2022: £74,461) was repaid.

During the year £33,489 (2022: £46,024) was advanced to Director 2 and £88,425 (2022: £73,454) was repaid.

The maximum overdrawn balances in the year were: -

Director 1 - £111,630
Director 2 - £32,952

Loans to directors are repayable on demand and interest is charged at 2.25%