IRIS Accounts Production v25.1.3.33 04506404 Board of Directors Board of Directors 1.9.23 31.8.24 31.8.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh045064042023-08-31045064042024-08-31045064042023-09-012024-08-31045064042022-08-31045064042022-09-012023-08-31045064042023-08-3104506404ns14:PoundSterling2023-09-012024-08-3104506404ns10:Director12023-09-012024-08-3104506404ns10:Director22023-09-012024-08-3104506404ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3104506404ns10:SmallEntities2023-09-012024-08-3104506404ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3104506404ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3104506404ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3104506404ns10:FullAccounts2023-09-012024-08-310450640412023-09-012024-08-3104506404ns10:RegisteredOffice2023-09-012024-08-3104506404ns5:CurrentFinancialInstruments2024-08-3104506404ns5:CurrentFinancialInstruments2023-08-3104506404ns5:Non-currentFinancialInstruments2024-08-3104506404ns5:Non-currentFinancialInstruments2023-08-3104506404ns5:ShareCapital2024-08-3104506404ns5:ShareCapital2023-08-3104506404ns5:RetainedEarningsAccumulatedLosses2024-08-3104506404ns5:RetainedEarningsAccumulatedLosses2023-08-3104506404ns5:NetGoodwill2023-09-012024-08-3104506404ns5:IntangibleAssetsOtherThanGoodwill2023-09-012024-08-3104506404ns5:PlantMachinery2023-09-012024-08-3104506404ns5:FurnitureFittings2023-09-012024-08-3104506404ns5:MotorVehicles2023-09-012024-08-3104506404ns5:NetGoodwill2023-08-3104506404ns5:NetGoodwill2024-08-3104506404ns5:NetGoodwill2023-08-3104506404ns5:PlantMachinery2023-08-3104506404ns5:FurnitureFittings2023-08-3104506404ns5:MotorVehicles2023-08-3104506404ns5:PlantMachinery2024-08-3104506404ns5:FurnitureFittings2024-08-3104506404ns5:MotorVehicles2024-08-3104506404ns5:PlantMachinery2023-08-3104506404ns5:FurnitureFittings2023-08-3104506404ns5:MotorVehicles2023-08-3104506404ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3104506404ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-31
REGISTERED NUMBER: 04506404












Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Outen Limited

Outen Limited (Registered number: 04506404)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Outen Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: R L Outen
P Hayles





REGISTERED OFFICE: Spectrum House
2B Suttons Lane
Hornchurch
Essex
RM12 6RJ





REGISTERED NUMBER: 04506404





ACCOUNTANTS: Johal & Company
Chartered Certified Accountants
& Registered Auditors
Spectrum House
2B Suttons Lane
Hornchurch
Essex
RM12 6RJ

Outen Limited (Registered number: 04506404)

Statement of Financial Position
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,000
Tangible assets 5 407,670 237,991
407,670 238,991

CURRENT ASSETS
Debtors 6 313,739 226,552
Cash at bank and in hand 135,100 164,819
448,839 391,371
CREDITORS
Amounts falling due within one year 7 358,338 280,786
NET CURRENT ASSETS 90,501 110,585
TOTAL ASSETS LESS CURRENT
LIABILITIES

498,171

349,576

CREDITORS
Amounts falling due after more than one
year

8

89,290

28,833
NET ASSETS 408,881 320,743

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 408,780 320,642
SHAREHOLDERS' FUNDS 408,881 320,743

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Outen Limited (Registered number: 04506404)

Statement of Financial Position - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:




R L Outen - Director



P Hayles - Director


Outen Limited (Registered number: 04506404)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Outen Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 10% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 have been enacted or substantively enacted by the year end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Outen Limited (Registered number: 04506404)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 80,000
AMORTISATION
At 1 September 2023 79,000
Amortisation for year 1,000
At 31 August 2024 80,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 1,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2023 86,620 12,265 536,032 634,917
Additions 99,000 - 122,250 221,250
Disposals - - (49,670 ) (49,670 )
At 31 August 2024 185,620 12,265 608,612 806,497
DEPRECIATION
At 1 September 2023 70,292 11,435 315,199 396,926
Charge for year 11,424 83 28,430 39,937
Eliminated on disposal - - (38,036 ) (38,036 )
At 31 August 2024 81,716 11,518 305,593 398,827
NET BOOK VALUE
At 31 August 2024 103,904 747 303,019 407,670
At 31 August 2023 16,328 830 220,833 237,991

Outen Limited (Registered number: 04506404)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 293,739 226,552
Other debtors 20,000 -
313,739 226,552

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 30,446 10,000
Hire purchase contracts 31,099 3,773
Trade creditors 127,764 66,188
Taxation and social security 106,583 98,302
Other creditors 62,446 102,523
358,338 280,786

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 17,026 23,333
Hire purchase contracts 71,149 -
Other creditors 1,115 5,500
89,290 28,833