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Company registration number: 08403289
Otter Stop Limited
Unaudited filleted financial statements
28 February 2024
Otter Stop Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Otter Stop Limited
Directors and other information
Directors Mr Harvey Croft
Company number 08403289
Registered office Kemp House
128 City Road
London
EC1V 2NX
Business address Kemp House
128 City Road
London
EC1V 2NX
Accountants Langers
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
Otter Stop Limited
Statement of financial position
28 February 2024
2024 2023
Note £ £ £ £
Current assets
Debtors 5 59,628 26,227
Cash at bank and in hand 1,200 40,479
_______ _______
60,828 66,706
Creditors: amounts falling due
within one year 6 ( 26,919) ( 15,956)
_______ _______
Net current assets 33,909 50,750
_______ _______
Total assets less current liabilities 33,909 50,750
_______ _______
Net assets 33,909 50,750
_______ _______
Capital and reserves
Called up share capital 7 100 100
Profit and loss account 33,809 50,650
_______ _______
Shareholder funds 33,909 50,750
_______ _______
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
Mr Harvey Croft
Director
Company registration number: 08403289
Otter Stop Limited
Notes to the financial statements
Year ended 28 February 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Kemp House, 128 City Road, London, EC1V 2NX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
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 a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Debtors
2024 2023
£ £
Trade debtors 38,627 -
Other debtors 21,001 26,227
_______ _______
59,628 26,227
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 18,716 11,915
Corporation tax 2,728 3,296
Social security and other taxes 3,019 -
Other creditors 2,456 745
_______ _______
26,919 15,956
_______ _______
7. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______