Registered number
13907144
ODD Creations Ltd
Unaudited Filleted Accounts
29 February 2024
ODD Creations Ltd
Registered number: 13907144
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 10,000 15,000
Tangible assets 4 3,827 1,403
13,827 16,403
Current assets
Debtors 5 6,600 2,009
Cash at bank and in hand 25,971 27,084
32,571 29,093
Creditors: amounts falling due within one year 6 (25,017) (23,964)
Net current assets 7,554 5,129
Total assets less current liabilities 21,381 21,532
Provisions for liabilities (957) -
Net assets 20,424 21,532
Capital and reserves
Called up share capital 1 1
Profit and loss account 20,423 21,531
Shareholder's funds 20,424 21,532
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
O Daldry
Director
Approved by the board on 28 November 2024
ODD Creations Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% per annum
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 20,000
At 29 February 2024 20,000
Amortisation
At 1 March 2023 5,000
Provided during the year 5,000
At 29 February 2024 10,000
Net book value
At 29 February 2024 10,000
At 28 February 2023 15,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 March 2023 1,870
Additions 3,249
At 29 February 2024 5,119
Depreciation
At 1 March 2023 467
Charge for the year 825
At 29 February 2024 1,292
Net book value
At 29 February 2024 3,827
At 28 February 2023 1,403
5 Debtors 2024 2023
£ £
Trade debtors - 66
Other debtors 6,600 1,943
6,600 2,009
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 23,933 13,328
Other creditors 1,084 10,636
25,017 23,964
7 Other information
ODD Creations Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
The Coach House
Headgate
Colchester
Essex
CO3 3BT
ODD Creations Ltd 13907144 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts July 2024 O Daldry No description of principal activity 13907144 2022-03-01 2023-02-28 13907144 core:WithinOneYear 2023-02-28 13907144 core:ShareCapital 2023-02-28 13907144 core:RetainedEarningsAccumulatedLosses 2023-02-28 13907144 2023-03-01 2024-02-29 13907144 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13907144 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13907144 bus:Director40 2023-03-01 2024-02-29 13907144 1 2023-03-01 2024-02-29 13907144 2 2023-03-01 2024-02-29 13907144 core:Goodwill 2023-03-01 2024-02-29 13907144 core:PlantMachinery 2023-03-01 2024-02-29 13907144 countries:England 2023-03-01 2024-02-29 13907144 bus:FRS102 2023-03-01 2024-02-29 13907144 bus:FilletedAccounts 2023-03-01 2024-02-29 13907144 2024-02-29 13907144 core:WithinOneYear 2024-02-29 13907144 core:ShareCapital 2024-02-29 13907144 core:RetainedEarningsAccumulatedLosses 2024-02-29 13907144 core:Goodwill 2024-02-29 13907144 core:PlantMachinery 2024-02-29 13907144 2023-02-28 13907144 core:Goodwill 2023-02-28 13907144 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure