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REGISTERED NUMBER: 07442586 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

OCTOPUS PERSONNEL LTD

OCTOPUS PERSONNEL LTD (REGISTERED NUMBER: 07442586)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OCTOPUS PERSONNEL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Ms S J Smart





REGISTERED OFFICE: 124 High Street
Midsomer Norton
Somerset
BA3 2DA





REGISTERED NUMBER: 07442586 (England and Wales)





ACCOUNTANTS: PG Owen Limited
Chartered Accountants
124 High Street
Midsomer Norton
Bath
Avon
BA3 2DA

OCTOPUS PERSONNEL LTD (REGISTERED NUMBER: 07442586)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,558 32,823

CURRENT ASSETS
Stocks 12,316 15,765
Debtors 5 86,030 126,818
Cash at bank 8,370 8,626
106,716 151,209
CREDITORS
Amounts falling due within one year 6 101,693 144,468
NET CURRENT ASSETS 5,023 6,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,581

39,564

CREDITORS
Amounts falling due after more than one
year

7

(28,854

)

(38,792

)

PROVISIONS FOR LIABILITIES - (169 )
NET ASSETS 727 603

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 726 602
727 603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

OCTOPUS PERSONNEL LTD (REGISTERED NUMBER: 07442586)

BALANCE SHEET - continued
30 APRIL 2024


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 22 July 2024 and were signed by:





Ms S J Smart - Director


OCTOPUS PERSONNEL LTD (REGISTERED NUMBER: 07442586)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Octopus Personnel 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.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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.

OCTOPUS PERSONNEL LTD (REGISTERED NUMBER: 07442586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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.

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 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023
and 30 April 2024 10,384 23,163 28,748 8,420 70,715
DEPRECIATION
At 1 May 2023 6,344 21,107 2,396 8,045 37,892
Charge for year 1,038 514 6,588 125 8,265
At 30 April 2024 7,382 21,621 8,984 8,170 46,157
NET BOOK VALUE
At 30 April 2024 3,002 1,542 19,764 250 24,558
At 30 April 2023 4,040 2,056 26,352 375 32,823

OCTOPUS PERSONNEL LTD (REGISTERED NUMBER: 07442586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 28,748
DEPRECIATION
At 1 May 2023 2,396
Charge for year 6,588
At 30 April 2024 8,984
NET BOOK VALUE
At 30 April 2024 19,764
At 30 April 2023 26,352

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 77,029 74,867
Other debtors 3,459 44,459
Tax 5,542 5,542
Prepayments - 1,950
86,030 126,818

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 49,233 78,460
Hire purchase contracts 3,021 3,021
Trade creditors 908 4,526
Tax 1,554 8,815
Social security and other taxes 9,378 14,084
VAT 20,975 25,213
Other creditors 2,446 2,067
Directors' current accounts 11,978 6,282
Accrued expenses 2,200 2,000
101,693 144,468

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 18,201 21,222
Accruals and deferred income 10,653 17,570
28,854 38,792