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Company Registration No. 14122160 (England and Wales)
OTIPRO LTD Unaudited accounts for the year ended 31 May 2024
OTIPRO LTD Unaudited accounts Contents
Page
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OTIPRO LTD Company Information for the year ended 31 May 2024
Director
Valeriu Jardan
Company Number
14122160 (England and Wales)
Registered Office
50 SLOANE AVENUE LONDON SW3 3DD ENGLAND
Accountants
The Peek Partnership Limited Unit 1, Chancerygate Business Center Stonefield Way Ruislip Middlesex HA4 0JA
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OTIPRO LTD Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Debtors
1,139,741 
412,088 
Cash at bank and in hand
932 
496,962 
1,140,673 
909,050 
Creditors: amounts falling due within one year
(1,050,860)
(870,982)
Net current assets
89,813 
38,068 
Net assets
89,813 
38,068 
Capital and reserves
Called up share capital
10,000 
1,000 
Profit and loss account
79,813 
37,068 
Shareholders' funds
89,813 
38,068 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 February 2025 and were signed on its behalf by
Valeriu Jardan Director Company Registration No. 14122160
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OTIPRO LTD Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
OTIPRO LTD is a private company, limited by shares, registered in England and Wales, registration number 14122160. The registered office is 50 SLOANE AVENUE, LONDON, SW3 3DD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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OTIPRO LTD Notes to the Accounts for the year ended 31 May 2024
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
4,081 
114,833 
Trade debtors
957,006 
(219,164)
Accrued income and prepayments
7,000 
407,000 
Other debtors
2,235 
109,419 
970,322 
412,088 
Amounts falling due after more than one year
Other debtors
169,419 
- 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
17,112 
154,468 
Taxes and social security
35,694 
15,726 
Other creditors
998,054 
700,788 
1,050,860 
870,982 
6
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
10,000 Ordinary shares of £1 each
10,000 
1,000 
Shares issued during the period:
9,000 Ordinary shares of £1 each
9,000 
7
Average number of employees
During the year the average number of employees was 6 (2023: 5).
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