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REGISTERED NUMBER: 11727837 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

OCB Systems Ltd

OCB Systems Ltd (Registered number: 11727837)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OCB Systems Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr D Fuller
Mrs G Fuller





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





BUSINESS ADDRESS: The Cottage
High Wych Lane
SAWBRIDGEWORTH
Hertfordshire
CM21 0JR





REGISTERED NUMBER: 11727837 (England and Wales)

OCB Systems Ltd (Registered number: 11727837)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 4,309 2,404

CURRENT ASSETS
Stocks 40,559 41,432
Debtors 6 205,502 235,491
Cash at bank 313,409 204,346
559,470 481,269
CREDITORS
Amounts falling due within one year 7 210,346 245,345
NET CURRENT ASSETS 349,124 235,924
TOTAL ASSETS LESS CURRENT
LIABILITIES

353,433

238,328

PROVISIONS FOR LIABILITIES 1,077 551
NET ASSETS 352,356 237,777

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 352,256 237,677
352,356 237,777

OCB Systems Ltd (Registered number: 11727837)

Balance Sheet - continued
29 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





Mr D Fuller - Director


OCB Systems Ltd (Registered number: 11727837)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

OCB Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised 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.


OCB Systems Ltd (Registered number: 11727837)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 4,537
Additions 3,651
Disposals (503 )
At 29 February 2024 7,685
DEPRECIATION
At 1 March 2023 2,133
Charge for year 1,435
Eliminated on disposal (192 )
At 29 February 2024 3,376
NET BOOK VALUE
At 29 February 2024 4,309
At 28 February 2023 2,404

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 202,160 227,028
Other debtors 3,342 8,463
205,502 235,491

OCB Systems Ltd (Registered number: 11727837)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1 1,799
Taxation and social security 48,926 54,071
Other creditors 161,419 189,475
210,346 245,345

Included within other creditors disclosed above is a balance of £76,490 (2023 - £100) in relation to accrued expenses, a balance of £82,075 (2023 - £137,875) in relation to the Directors' Loan Account, a balance of £Nil (2023 - £51,355) in relation to an intercompany loan, a balance of £2,854 (2023 - £Nil) in relation to credit cards and a balance of £Nil (2023 - £145) in relation to other creditors.