Company registration number: 11798272
Unaudited financial statements
for the year ended 31 January 2024
for
Offlicate Ltd
Pages for filing with the Registrar
Company registration number: 11798272
Offlicate Ltd
Balance sheet
as at 31 January 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 4 44,300 50,500
Tangible assets 5 134,600 170,647
178,900 221,147
Current assets
Debtors - 296,906
Cash at bank and in hand 42,667 9,653
42,667 306,559
Creditors: amounts falling due within one
year
(13,287) (251,399)
Net current assets 29,380 55,160
Total assets less current liabilities 208,280 276,307
Provisions for liabilities (32,861) (31,637)
NET ASSETS 175,419 244,670
Capital and reserves
Called up share capital 1 1
Profit and loss account 175,418 244,669
TOTAL EQUITY 175,419 244,670
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 January 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 11798272
Offlicate Ltd
Balance sheet - continued
as at 31 January 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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr S Wilson, Director
10 April 2025
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Offlicate Ltd
Notes to the financial statements
for the year ended 31 January 2024
1 Company information
Offlicate Ltd is a private company registered in England and Wales. Its registered number is 11798272. The company is limited by shares. Its registered office is C/O Pomegranate, 3 Hardman Square, Manchester, M3 3EB.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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Offlicate Ltd
Notes to the financial statements - continued
for the year ended 31 January 2024
2 Accounting policies - continued
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill - Goodwill represents the excess of the cost of
acquisition of unincorporated businesses over the fair
value of net assets acquired. It is initially recognised as
an asset at cost and is subsequently measured at cost
less accumulated amortisation and accumulated
impairment losses. Goodwill is considered to have a
finite useful life and is amortised on a systematic basis
over its expected life, which is 10 years.



For the purposes of impairment testing, goodwill is
allocated to the cash-generating units expected to
benefit from the acquisition. Cash-generating units to
which goodwill has been allocated are tested for
impairment at least annually, or more frequently when
there is an indication that the unit may be impaired. If
the recoverable amount of the cash-generating unit is
less than the carrying amount of the unit, the
impairment loss is allocated first to reduce the carrying
amount of any goodwill allocated to the unit and then to
the other assets of the unit pro-rata on the basis of the carrying
Computer software - 10% straight line
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Leasehold improvements - 10% straight line
Plant and machinery etc.:
Fixtures & fittings - 20% straight line
Motor vehicles - 20% straight line
Computer equipment - 20% straight line
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Offlicate Ltd
Notes to the financial statements - continued
for the year ended 31 January 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 4 (2023 - 5).
4 Intangible assets
Goodwill Other
intangible
assets
Totals
£ £ £
Cost
At 1 February 2023 2,000 60,000 62,000
At 31 January 2024 2,000 60,000 62,000
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Offlicate Ltd
Notes to the financial statements - continued
for the year ended 31 January 2024
4 Intangible assets - continued
Amortisation
At 1 February 2023 800 10,700 11,500
Charge for year 200 6,000 6,200
At 31 January 2024 1,000 16,700 17,700
Net book value
At 31 January 2024 1,000 43,300 44,300
At 31 January 2023 1,200 49,300 50,500
5 Tangible fixed assets
Land and
buildings
Plant and
machinery
etc.
Totals
£ £ £
Cost
At 1 February 2023 45,886 233,703 279,589
Additions - 15,994 15,994
At 31 January 2024 45,886 249,697 295,583
Depreciation
At 1 February 2023 8,413 100,529 108,942
Charge for year 4,589 47,452 52,041
At 31 January 2024 13,002 147,981 160,983
Net book value
At 31 January 2024 32,884 101,716 134,600
At 31 January 2023 37,473 133,174 170,647
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Offlicate Ltd
Notes to the financial statements - continued
for the year ended 31 January 2024
6 Advances, credit and guarantees granted to the director
The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023.
2024 2023
£ £
Mr Simon Wilson
Balance outstanding at start of year 231,727 90,828
Amounts advanced 153,881 163,702
Amounts repaid (385,408) (22,803)
Balance outstanding at end of year 200 231,727
7 Dividends
Dividends totalling £6,500 (2023 - £0) were paid in the year in respect of shares held by the company's director.
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