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REGISTERED NUMBER: 07556613 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

HOT OCTOPUSS LTD

HOT OCTOPUSS LTD (REGISTERED NUMBER: 07556613)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOT OCTOPUSS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr A A Lewis
Mrs J N Margo





SECRETARY: Mrs S L Lewis





REGISTERED OFFICE: Larch House
Parklands Business Park
Denmead
Hampshire
PO7 6XP





REGISTERED NUMBER: 07556613 (England and Wales)





ACCOUNTANTS: Gibson Whitter
Chartered Accountants
and Chartered Tax Advisers
Larch House
Parklands Business Park
Denmead
Hampshire
PO7 6XP

HOT OCTOPUSS LTD (REGISTERED NUMBER: 07556613)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 77,420 133,822
Tangible assets 5 24,609 32,211
102,029 166,033

CURRENT ASSETS
Stocks 469,625 644,347
Debtors 6 264,749 352,904
Cash at bank and in hand 289,374 311,292
1,023,748 1,308,543
CREDITORS
Amounts falling due within one year 7 417,163 457,204
NET CURRENT ASSETS 606,585 851,339
TOTAL ASSETS LESS CURRENT
LIABILITIES

708,614

1,017,372

CREDITORS
Amounts falling due after more than one
year

8

56,872

167,719
NET ASSETS 651,742 849,653

CAPITAL AND RESERVES
Called up share capital 110 110
Share premium 260,690 260,690
Retained earnings 390,942 588,853
SHAREHOLDERS' FUNDS 651,742 849,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

HOT OCTOPUSS LTD (REGISTERED NUMBER: 07556613)

BALANCE SHEET - continued
31 MARCH 2024


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 and authorised for issue by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





Mr A A Lewis - Director


HOT OCTOPUSS LTD (REGISTERED NUMBER: 07556613)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Hot Octopuss 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Website costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

Stock is valued on an average cost basis.

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.

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.

HOT OCTOPUSS LTD (REGISTERED NUMBER: 07556613)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023 352,900
Additions 9,010
At 31 March 2024 361,910
AMORTISATION
At 1 April 2023 219,078
Charge for year 65,412
At 31 March 2024 284,490
NET BOOK VALUE
At 31 March 2024 77,420
At 31 March 2023 133,822

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 132,817
Additions 2,861
At 31 March 2024 135,678
DEPRECIATION
At 1 April 2023 100,606
Charge for year 10,463
At 31 March 2024 111,069
NET BOOK VALUE
At 31 March 2024 24,609
At 31 March 2023 32,211

HOT OCTOPUSS LTD (REGISTERED NUMBER: 07556613)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 164,979 228,261
Other debtors 99,770 124,643
264,749 352,904

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 123,206 103,682
Trade creditors 163,742 94,837
Taxation and social security 3,876 -
Other creditors 126,339 258,685
417,163 457,204

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 56,872 167,719

Bank loans above include a Bounce Back loan of £22,435 (31.3.23: £32,387).

9. RELATED PARTY DISCLOSURES

The aggregate amount the company owed to the directors at the balance sheet date was £30,407 (31.3.23: £28,034).

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party as no one individual has a greater than 50% shareholding.