OTEK Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 08359397

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		113,460		88,394
Investments	5		30,002		30,002

			143,462		118,396
CURRENT ASSETS
Stocks	6	207,733		455,124
Debtors	7	1,021,091		988,502
Cash at bank and in hand		298,105		13,842

		1,526,929		1,457,468
Creditors: Amounts Falling Due Within One Year	8	(648,993 )		(434,880 )

NET CURRENT ASSETS (LIABILITIES)			877,936		1,022,588

TOTAL ASSETS LESS CURRENT LIABILITIES			1,021,398		1,140,984

Creditors: Amounts Falling Due After More Than One Year	9		(130,231 )		(127,780 )

NET ASSETS			891,167		1,013,204

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			891,067		1,013,104

SHAREHOLDERS' FUNDS			891,167		1,013,204

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OTEK Limited

Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Ramitha Kuruppu

Director

18th September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

OTEK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08359397 . The registered office is 78 Cranmore Road, Chislehurst, Kent, BR7 6ET.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	20% Reducing Balance Method
Fixtures & Fittings	20% Reducing Balance Method
Computer Equipment	20% Reducing Balance Method

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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OTEK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.7. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 February 2024	71,955	27,106	28,409	127,470
Additions	42,014	-	8,962	50,976

As at 31 January 2025	113,969	27,106	37,371	178,446

Depreciation
As at 1 February 2024	11,000	15,190	12,886	39,076
Provided during the period	19,512	2,383	4,015	25,910

As at 31 January 2025	30,512	17,573	16,901	64,986

Net Book Value
As at 31 January 2025	83,457	9,533	20,470	113,460

As at 1 February 2024	60,955	11,916	15,523	88,394

5. Investments

	Other
	£
Cost
As at 1 February 2024	30,002

As at 31 January 2025	30,002

Provision
As at 1 February 2024	-

As at 31 January 2025	-

Net Book Value
As at 31 January 2025	30,002

As at 1 February 2024	30,002

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OTEK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

6. Stocks

	2025	2024
	£	£
Stock	207,733	455,124

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	398,186	345,441
Other debtors	622,905	643,061

	1,021,091	988,502

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	279,895	67,579
Bank loans and overdrafts	85,001	105,310
Corporation tax	399	23,207
Director's loan account	283,698	238,784

	648,993	434,880

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	41,123	-
Bank loans 2-5 years	89,108	127,780

	130,231	127,780

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Later than one year and not later than five years	41,123	-

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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