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Registration number: 03567252

OTR (Exeter) Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

OTR (Exeter) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

OTR (Exeter) Limited

Company Information

Directors

A C Rothwell

J F Tagg

N C Hawker

Registered office

St James' Park
Exeter
Devon
EX4 6PX

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

OTR (Exeter) Limited

(Registration number: 03567252)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

650,000

650,000

Current assets

 

Cash at bank and in hand

 

21,707

16,864

Creditors: Amounts falling due within one year

5

(302,614)

(344,194)

Net current liabilities

 

(280,907)

(327,330)

Net assets

 

369,093

322,670

Reserves

 

Retained earnings

369,093

322,670

Surplus

 

369,093

322,670

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 April 2025 and signed on its behalf by:
 

.........................................
J F Tagg
Director

 

OTR (Exeter) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
St James' Park
Exeter
Devon
EX4 6PX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

OTR (Exeter) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Asset class

Depreciation method and rate

Investment properties

Not depreciated

Investment property

The company's property is held for long-term investment. Investment properties are accounted for as follows:

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the profit and loss account accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

OTR (Exeter) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2023

650,000

650,000

At 30 June 2024

650,000

650,000

Depreciation

Carrying amount

At 30 June 2024

650,000

650,000

At 30 June 2023

650,000

650,000

Included within the net book value of land and buildings above is £650,000 (2023 - £650,000) in respect of freehold land and buildings.
 

5

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

14,359

9,053

Other creditors

286,875

333,876

Accrued expenses

1,380

1,265

302,614

344,194