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REGISTERED NUMBER: 08427422 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

OT NEURO LTD

OT NEURO LTD (REGISTERED NUMBER: 08427422)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OT NEURO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: P Morris





REGISTERED OFFICE: 95 Grove Road
Hitchin
Hertfordshire
SG5 1SQ





REGISTERED NUMBER: 08427422 (England and Wales)





ACCOUNTANTS: Collards
Chartered Accountants
5-9 Eden Street
Kingston-upon-Thames
Surrey
KT1 1BQ

OT NEURO LTD (REGISTERED NUMBER: 08427422)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,269 33,395

CURRENT ASSETS
Debtors 5 21,115 32,253
Cash at bank 84,895 83,375
106,010 115,628
CREDITORS
Amounts falling due within one year 6 29,624 26,108
NET CURRENT ASSETS 76,386 89,520
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,655

122,915

CREDITORS
Amounts falling due after more than one year 7 (2,917 ) (8,567 )

PROVISIONS FOR LIABILITIES (4,801 ) (6,345 )
NET ASSETS 93,937 108,003

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 8 93,936 108,002
SHAREHOLDERS' FUNDS 93,937 108,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 12 June 2024 and were signed by:





P Morris - Director


OT NEURO LTD (REGISTERED NUMBER: 08427422)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

OT Neuro 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 represents gross fees charged and expenses incurred for services provided to clients. As all work is invoiced on a monthly basis, the revenue recognised in the accounts on the basis of invoices raised accounts for all revenue which the company has an unconditional right to receive as at balance sheet date.

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.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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.

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 2 (2023 - 2 ) .

OT NEURO LTD (REGISTERED NUMBER: 08427422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 808 421 44,090 793 46,112
Additions - - - 317 317
At 31 March 2024 808 421 44,090 1,110 46,429
DEPRECIATION
At 1 April 2023 202 319 11,711 485 12,717
Charge for year 152 31 8,095 165 8,443
At 31 March 2024 354 350 19,806 650 21,160
NET BOOK VALUE
At 31 March 2024 454 71 24,284 460 25,269
At 31 March 2023 606 102 32,379 308 33,395

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 44,090
DEPRECIATION
At 1 April 2023 11,711
Charge for year 8,095
At 31 March 2024 19,806
NET BOOK VALUE
At 31 March 2024 24,284
At 31 March 2023 32,379

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,253 30,427
Prepayments 862 1,826
21,115 32,253

OT NEURO LTD (REGISTERED NUMBER: 08427422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,649 5,387
Trade creditors 10,380 7,194
Tax 8,673 8,806
Social security and other taxes 223 358
Other creditors 921 935
Directors' current accounts 1,978 1,978
Accruals and deferred income 1,800 1,450
29,624 26,108

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 2,917 8,567

8. RESERVES
Retained
earnings
£   

At 1 April 2023 108,002
Profit for the year 30,334
Dividends (44,400 )
At 31 March 2024 93,936

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is £1,978 (2023: £1,978) due to the director. This is interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £44,400 (2023: £40,800) were paid to the director.

11. ULTIMATE CONTROLLING PARTY

The controlling party is P Morris.

The ultimate controlling party is P Morris due to his 100% shareholding in the ordinary shares of the company.