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Company registration number: NI691500
OKTO INTEGRATED SERVICES LTD
Unaudited filleted financial statements
29 December 2023
OKTO INTEGRATED SERVICES LTD
Contents
Directors and other information
Accountant's report
Statement of financial position
Notes to the financial statements
OKTO INTEGRATED SERVICES LTD
Directors and other information
Director Philip Dowds
Company number NI691500
Registered office 1-2 Cresent Business Park
Lisburn
Co Antrim
BT28 2GN
Accountant RGA Accountants Ltd
35 Church Square
Banbridge
Co Down
BT32 4AP
Bankers Monzo
Broadwalk House
5 Appold Street
London
EC2A 2AG
OKTO INTEGRATED SERVICES LTD
Report to the director on the preparation of the
unaudited statutory financial statements of OKTO INTEGRATED SERVICES LTD
Period ended 29 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of OKTO INTEGRATED SERVICES LTD for the period ended 29 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of Chartered Accountants Ireland , I am subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the director of OKTO INTEGRATED SERVICES LTD, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of OKTO INTEGRATED SERVICES LTD and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than OKTO INTEGRATED SERVICES LTD and its director as a body for my work or for this report.
It is your duty to ensure that OKTO INTEGRATED SERVICES LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of OKTO INTEGRATED SERVICES LTD. You consider that OKTO INTEGRATED SERVICES LTD is exempt from the statutory audit requirement for the period.
I have not been instructed to carry out an audit or a review of the financial statements of OKTO INTEGRATED SERVICES LTD. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
RGA Accountants Ltd
Chartered Accountants & Registered Auditors
35 Church Square
Banbridge
Co Down
BT32 4AP
7 March 2025
OKTO INTEGRATED SERVICES LTD
Statement of financial position
29 December 2023
29/12/23 31/12/22
Note £ £ £ £
Current assets
Debtors 5 25,985 100
Cash at bank and in hand 339,132 -
_______ _______
365,117 100
Creditors: amounts falling due
within one year 6 ( 91,515) -
_______ _______
Net current assets 273,602 100
_______ _______
Total assets less current liabilities 273,602 100
Creditors: amounts falling due
after more than one year 7 ( 275,000) -
_______ _______
Net (liabilities)/assets ( 1,398) 100
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 1,498) -
_______ _______
Shareholders (deficit)/funds ( 1,398) 100
_______ _______
For the period ending 29 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 March 2025 , and are signed on behalf of the board by:
Philip Dowds
Director
Company registration number: NI691500
OKTO INTEGRATED SERVICES LTD
Notes to the financial statements
Period ended 29 December 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 1-2 Cresent Business Park, Lisburn, Co Antrim, BT28 2GN.
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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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 period amounted to 14 (2022: Nil).
5. Debtors
29/12/23 31/12/22
£ £
Trade debtors 2,940 -
Other debtors 23,045 100
_______ _______
25,985 100
_______ _______
6. Creditors: amounts falling due within one year
29/12/23 31/12/22
£ £
Trade creditors 26,198 -
Corporation tax 5,815 -
Social security and other taxes 53,065 -
Other creditors 6,437 -
_______ _______
91,515 -
_______ _______
7. Creditors: amounts falling due after more than one year
29/12/23 31/12/22
£ £
Other creditors 275,000 -
_______ _______
8. Directors advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
Period ended 29/12/23
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Philip Dowds - 17,230 17,230
_______ _______ _______
Period ended 31/12/22
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Philip Dowds - - -
_______ _______ _______