Registered number
14217303
OTB Repair Ltd
Filleted Accounts
31 July 2024
OTB Repair Ltd
Registered number: 14217303
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,768 -
Current assets
Debtors 4 - 3,941
Cash at bank and in hand 11,692 913
11,692 4,854
Creditors: amounts falling due within one year 5 (13,326) (4,351)
Net current (liabilities)/assets (1,634) 503
Net assets 1,134 503
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,133 502
Shareholder's funds 1,134 503
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 her 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.
Miss J A Lillywhite
Director
Approved by the board on 26 April 2025
Notes to the Accounts
for the year ended 31 July 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.
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:
Plant and machinery 20% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 3,461
At 31 July 2024 3,461
Depreciation
Charge for the year 693
At 31 July 2024 693
Net book value
At 31 July 2024 2,768
4 Debtors 2024 2023
£ £
Other debtors - 3,941
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 624 -
Taxation and social security costs 9,202 3,871
Other creditors 3,500 480
13,326 4,351
6 Other information
OTB Repair Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Director Generals House
15 Rockstone Place
Southampton
Hampshire
SO15 2EP
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