Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 06769178 Mr John Taylor Mrs Carol Taylor Mrs Carol Taylor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06769178 2023-01-31 06769178 2024-01-31 06769178 2023-02-01 2024-01-31 06769178 frs-core:CurrentFinancialInstruments 2024-01-31 06769178 frs-core:ComputerEquipment 2024-01-31 06769178 frs-core:ComputerEquipment 2023-02-01 2024-01-31 06769178 frs-core:ComputerEquipment 2023-01-31 06769178 frs-core:PlantMachinery 2024-01-31 06769178 frs-core:PlantMachinery 2023-02-01 2024-01-31 06769178 frs-core:PlantMachinery 2023-01-31 06769178 frs-core:ShareCapital 2024-01-31 06769178 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 06769178 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06769178 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 06769178 frs-bus:SmallEntities 2023-02-01 2024-01-31 06769178 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 06769178 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 06769178 frs-core:UnlistedNon-exchangeTraded 2024-01-31 06769178 frs-core:UnlistedNon-exchangeTraded 2023-01-31 06769178 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-01-31 06769178 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-01-31 06769178 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-01-31 06769178 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-01-31 06769178 frs-bus:Director1 2023-02-01 2024-01-31 06769178 frs-bus:Director2 2023-02-01 2024-01-31 06769178 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 06769178 frs-countries:EnglandWales 2023-02-01 2024-01-31 06769178 2022-01-31 06769178 2023-01-31 06769178 2022-02-01 2023-01-31 06769178 frs-core:CurrentFinancialInstruments 2023-01-31 06769178 frs-core:ShareCapital 2023-01-31 06769178 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 06769178
Otter HR Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06769178
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 721 673
Investments 6 49,140 49,140
49,861 49,813
CURRENT ASSETS
Debtors 7 2,760 18,372
Cash at bank and in hand 47,973 36,889
50,733 55,261
Creditors: Amounts Falling Due Within One Year 8 (18,519 ) (46,233 )
NET CURRENT ASSETS (LIABILITIES) 32,214 9,028
TOTAL ASSETS LESS CURRENT LIABILITIES 82,075 58,841
PROVISIONS FOR LIABILITIES
Deferred Taxation (137 ) (128 )
NET ASSETS 81,938 58,713
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account 81,928 58,703
SHAREHOLDERS' FUNDS 81,938 58,713
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Taylor
Director
4 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Otter HR Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06769178 . The registered office is 5 Den Road, Teignmouth, Devon, TQ14 8AR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% Straight Line
Computer Equipment 33% Straight Line
2.4. Financial Instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Prior Period Adjustment
In previous years, a loan and associated interest charges to a third party was increasingly considered unlikely to be recovered. The company was informed after preparation of the accounts year ended 31 January 2023 that the debt had been converted into shares of the third party, prior to 31 January 2023. A prior year adjustment has therefore been made to reflect this fact and correct the value of debt, and subsequently shares, at that date. This adjustment has had no effect on shareholders funds as at 31 January 2023.
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 4,475 2,338 6,813
Additions - 1,082 1,082
As at 31 January 2024 4,475 3,420 7,895
Depreciation
As at 1 February 2023 4,475 1,665 6,140
Provided during the period - 1,034 1,034
As at 31 January 2024 4,475 2,699 7,174
Net Book Value
As at 31 January 2024 - 721 721
As at 1 February 2023 - 673 673
6. Investments
Unlisted
£
Cost
As at 1 February 2023 49,140
As at 31 January 2024 49,140
Provision
As at 1 February 2023 -
As at 31 January 2024 -
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 January 2024 49,140
As at 1 February 2023 49,140
7. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 2,760 18,372
8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 4,232 -
Corporation tax 6,408 5,991
Other taxes and social security 3,270 6,593
Other creditors 833 32,120
Directors' loan accounts 3,776 1,529
18,519 46,233
9. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 10 10
10. Related Party Transactions
At the year end, 31 January 2024, the company owed the directors £3,776 (2023: £1,529) in respect of loans held with the company. These amounts are interest free and repayable on demand.
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