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Registration number: 08227719

OUTDOOR TECHNOLOGIES LIMITED

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

OUTDOOR TECHNOLOGIES LIMITED

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 10

 

OUTDOOR TECHNOLOGIES LIMITED

Company Information

Directors

Woodford Services Limited

Ms Andreea Ecaterina Mocanu

Company secretary

Woodford Directors Limited

Registered office

3 The Shrubberies
George Lane
London
E18 1BD

Accountants

ACCOUNTING 2 TREND LTD
3 The Shrubberies
George Lane
London
E18 1BD

 

OUTDOOR TECHNOLOGIES LIMITED

Directors' Report for the Year Ended 30 September 2023

The directors present their report and the financial statements for the year ended 30 September 2023.

Directors of the company

The directors who held office during the year were as follows:

Woodford Services Limited

Ms Andreea Ecaterina Mocanu

Principal activity

The principal activity of the company is that of an investment holding company.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 26 September 2024 and signed on its behalf by:
 

.........................................
Ms Andreea Ecaterina Mocanu
Director

 

OUTDOOR TECHNOLOGIES LIMITED

Profit and Loss Account for the Year Ended 30 September 2023

Note

2023
£

2022
£

Turnover

 

52,919

62,235

Gross profit

 

52,919

62,235

Administrative expenses

 

(17,344)

(4,678)

Operating profit

 

35,575

57,557

Profit before tax

35,575

57,557

Tax on profit

 

(47,773)

(45,243)

(Loss)/profit for the financial year

 

(12,198)

12,314

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

OUTDOOR TECHNOLOGIES LIMITED

Statement of Comprehensive Income for the Year Ended 30 September 2023

2023
£

2022
£

(Loss)/profit for the year

(12,198)

12,314

Total comprehensive income for the year

(12,198)

12,314

 

OUTDOOR TECHNOLOGIES LIMITED

(Registration number: 08227719)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

2,831,410

2,831,410

Investments

5

3,359,419

3,359,419

 

6,190,829

6,190,829

Current assets

 

Cash at bank and in hand

 

28,872

40,069

Creditors: Amounts falling due within one year

6

(2,050,433)

(2,049,432)

Net current liabilities

 

(2,021,561)

(2,009,363)

Net assets

 

4,169,268

4,181,466

Capital and reserves

 

Called up share capital

7

4,135,297

4,135,297

Retained earnings

33,971

46,169

Shareholders' funds

 

4,169,268

4,181,466

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 26 September 2024 and signed on its behalf by:
 

.........................................
Ms Andreea Ecaterina Mocanu
Director

 

OUTDOOR TECHNOLOGIES LIMITED

Statement of Changes in Equity for the Year Ended 30 September 2023

Share capital
£

Profit and loss account
£

Total
£

At 1 October 2022

4,135,297

46,169

4,181,466

Loss for the year

-

(12,198)

(12,198)

Total comprehensive income

-

(12,198)

(12,198)

At 30 September 2023

4,135,297

33,971

4,169,268

Share capital
£

Retained earnings
£

Total
£

At 1 October 2021

4,135,297

33,855

4,169,152

Profit for the year

-

12,314

12,314

At 30 September 2022

4,135,297

46,169

4,181,466

 

OUTDOOR TECHNOLOGIES LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3 The Shrubberies
George Lane
London
E18 1BD
United Kingdom

These financial statements were authorised for issue by the Board on 26 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

OUTDOOR TECHNOLOGIES LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

OUTDOOR TECHNOLOGIES LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 October

2,831,410

At 30 September

2,831,410

There has been no valuation of investment property by an independent valuer.

5

Investments

2023
£

2022
£

Investments in associates

3,359,419

3,359,419

Associates

£

Cost

At 1 October 2022

3,359,419

Provision

Carrying amount

At 30 September 2023

3,359,419

At 30 September 2022

3,359,419

 

OUTDOOR TECHNOLOGIES LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,000

1,000

Other creditors

2,049,433

2,048,432

2,050,433

2,049,432

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

4,135,297

4,135,297

4,135,297

4,135,297

       

8

Related party transactions

Loans from related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

2,048,432

2,048,432

Advanced

1,001

1,001

At end of period

2,049,433

2,049,433

2022

Entities with joint control or significant influence
£

Total
£

At start of period

2,047,432

2,047,432

Advanced

1,000

1,000

At end of period

2,048,432

2,048,432