Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-011trueNo description of principal activity1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue 09532957 2023-05-01 2024-04-30 09532957 2022-05-01 2023-04-30 09532957 2024-04-30 09532957 2023-04-30 09532957 c:Director1 2023-05-01 2024-04-30 09532957 d:CurrentFinancialInstruments 2024-04-30 09532957 d:CurrentFinancialInstruments 2023-04-30 09532957 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 09532957 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 09532957 d:ShareCapital 2024-04-30 09532957 d:ShareCapital 2023-04-30 09532957 d:RetainedEarningsAccumulatedLosses 2024-04-30 09532957 d:RetainedEarningsAccumulatedLosses 2023-04-30 09532957 c:OrdinaryShareClass1 2023-05-01 2024-04-30 09532957 c:OrdinaryShareClass1 2024-04-30 09532957 c:OrdinaryShareClass1 2023-04-30 09532957 c:FRS102 2023-05-01 2024-04-30 09532957 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 09532957 c:FullAccounts 2023-05-01 2024-04-30 09532957 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09532957









OUT TIDES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
OUT TIDES LIMITED
REGISTERED NUMBER: 09532957

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Current assets
  

Debtors: amounts falling due within one year
 4 
85,737
125,642

Cash at bank and in hand
 5 
3,987
26,017

  
89,724
151,659

Creditors: amounts falling due within one year
 6 
(72,399)
(142,213)

Net assets
  
17,325
9,446


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
17,225
9,346

  
17,325
9,446


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 October 2024.




................................................
Jodie Elkins
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
OUT TIDES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Out Tides Limited is a private company limited by share capital, incorporated in England and Wales, registration number 09532957. The address of the registered office is 86a Cecil Street, Watford, England, WD24 5AP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis as the director believes adequate resources exist to enable it to meet its working capital requirements for at least twelve months from approval of these financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 
OUT TIDES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
OUT TIDES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Director
1
1


4.


Debtors

2024
2023
£
£


Trade debtors
40,075
86,838

Other debtors
45,562
38,704

Called up share capital not paid
100
100

85,737
125,642



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,987
26,017

3,987
26,017


Page 4

 
OUT TIDES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
66,182
130,505

Corporation tax
1,877
2,248

Other taxation and social security
1,850
7,130

Accruals and deferred income
2,490
2,330

72,399
142,213



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


 
Page 5