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REGISTERED NUMBER: 10477305 (England and Wales)







Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Octogon Solutions Ltd

Octogon Solutions Ltd (Registered number: 10477305)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Octogon Solutions Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: S Robertshaw





REGISTERED OFFICE: Unit 7a Pepper Road
Leeds
West Yorkshire
LS10 2EU





REGISTERED NUMBER: 10477305 (England and Wales)





ACCOUNTANTS: Lindley Adams Limited Chartered Accountants
28 Prescott Street
Halifax
West Yorkshire
HX1 2LG

Octogon Solutions Ltd (Registered number: 10477305)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 61,026 70,056

CURRENT ASSETS
Stocks 45,000 45,000
Debtors 5 133,400 130,320
Cash at bank and in hand 28,404 30,343
206,804 205,663
CREDITORS
Amounts falling due within one year 6 145,736 181,770
NET CURRENT ASSETS 61,068 23,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

122,094

93,949

CREDITORS
Amounts falling due after more than one
year

7

(31,510

)

(37,065

)

PROVISIONS FOR LIABILITIES (10,247 ) (10,354 )
NET ASSETS 80,337 46,530

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 80,237 46,430
SHAREHOLDERS' FUNDS 80,337 46,530

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Octogon Solutions Ltd (Registered number: 10477305)

Balance Sheet - continued
30 November 2023


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 30 June 2024 and were signed by:





S Robertshaw - Director


Octogon Solutions Ltd (Registered number: 10477305)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

Octogon Solutions 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.
Plant and machinery - 15% on reducing balance
Fixtures and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Octogon Solutions Ltd (Registered number: 10477305)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued

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 10 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery equipment
£    £    £   
COST
At 1 December 2022 20,600 75,892 3,324
Additions - 1,986 -
At 30 November 2023 20,600 77,878 3,324
DEPRECIATION
At 1 December 2022 20,600 27,312 1,395
Charge for year - 7,468 289
At 30 November 2023 20,600 34,780 1,684
NET BOOK VALUE
At 30 November 2023 - 43,098 1,640
At 30 November 2022 - 48,580 1,929

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 49,309 30,373 179,498
Additions 2,640 738 5,364
At 30 November 2023 51,949 31,111 184,862
DEPRECIATION
At 1 December 2022 31,496 28,639 109,442
Charge for year 5,003 1,634 14,394
At 30 November 2023 36,499 30,273 123,836
NET BOOK VALUE
At 30 November 2023 15,450 838 61,026
At 30 November 2022 17,813 1,734 70,056

Octogon Solutions Ltd (Registered number: 10477305)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 23,376
DEPRECIATION
At 1 December 2022
and 30 November 2023 23,376
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 41,691 63,053
Amounts receivable in respect of finance
leases

46,735

-
Other debtors 44,974 67,267
133,400 130,320

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 5,542 5,542
Finance leases (see note 8) - 7,133
Trade creditors 52,720 93,456
Taxation and social security 80,661 71,015
Other creditors 6,813 4,624
145,736 181,770

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 31,510 37,065

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,366 14,921

Octogon Solutions Ltd (Registered number: 10477305)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
30.11.23 30.11.22
£    £   
Net obligations repayable:
Within one year - 7,133

Non-cancellable operating leases
30.11.23 30.11.22
£    £   
Within one year 15,730 14,367
Between one and five years 5,295 7,941
21,025 22,308

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
S Robertshaw
Balance outstanding at start of year 32,755 21,321
Amounts advanced 32,212 48,521
Amounts repaid (40,000 ) (37,087 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,967 32,755

All loans to directors are repayable on demand.

Interest is charged on overdrawn amounts at 2.00% and 2.25%.