| Otif Profil (UK) Limited |
| Notes to the Accounts |
| for the period from 26 April 2024 to 30 September 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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).
The company commenced trading on 1 July 2024. |
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Turnover |
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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. |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 2 |
Employees |
2025 |
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| Number |
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Average number of persons employed by the company |
0 |
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| 3 |
Debtors |
2025 |
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| £ |
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Trade debtors |
36,184 |
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Other debtors |
1,000 |
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37,184 |
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| 4 |
Creditors: amounts falling due within one year |
2025 |
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| £ |
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Trade creditors |
5,760 |
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Taxation and social security costs |
53,032 |
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Other creditors |
55,339 |
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114,131 |
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| 5 |
Related party transactions |
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Lukasz Pietraszak, Shaun Wood, Graham Kidd and LS Management (UK) Limited each hold a 25% interest in the shares of the company.
Lukasz Pietraszak and LS Management (UK) Limited have each made a subordinated loan of £25,000 to the company. The loans are interest free and are included in other creditors in note 4 to these accounts.
Lukasz Pietraszak is a major shareholder and member of the management board of Otif Profil SP Z.O.O.("OPP"). During the period the company bought products from OPP for £402,924. At 30 September 2025 a balance of £5,700 was owed by the company to OPP for these products.
Shaun Wood and LS Management (UK) Limited together hold a contolling interest in the shares of Venturi UK Limited ("Venturi"). During the period the company paid £114,570 for services provided by Venturi. |
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| 6 |
Other information |
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Otif Profil (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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c/o Cosec Direct Limited |
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837 Salisbury House |
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29 Finsbury Circus |
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London |
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EC2M 5QQ |