Octopos Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05741642 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2018

for

OCTOPOS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J M Cudworth

REGISTERED OFFICE:

Rodney House

Clifton Down Road

Clifton

Bristol

BS8 4AL

REGISTERED NUMBER:

05741642 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Kestrel Court

Harbour Road

Portishead

Bristol

BS20 7AN

FIXED ASSETS

Intangible assets

4

685

1,027

Tangible assets

5

5,330

2,170

Investments

6

5,531

5,531

11,546

8,728

CURRENT ASSETS

Debtors

7

99,019

54,958

Cash at bank

170,846

331,022

269,865

385,980

CREDITORS

Amounts falling due within one year

8

56,392

84,420

NET CURRENT ASSETS

213,473

301,560

TOTAL ASSETS LESS CURRENT LIABILITIES

225,019

310,288

PROVISIONS FOR LIABILITIES

911

425

NET ASSETS

224,108

309,863

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

224,008

309,763

SHAREHOLDERS' FUNDS

224,108

309,863

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the director on 30 May 2019 and were signed by:

J M Cudworth - Director

1.	COMPANY INFORMATION

Octopos Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting

policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company

has adequate resources to continue in operational existence for the foreseeable future. Thus the directors

continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are

recognised when the company becomes party to the contractual provisions of the instrument. Financial assets

and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, and cash and bank balances, are initially

measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or

are settled, or when the company transfers the financial asset and substantially all the risks and rewards of

ownership to another entity, or if some significant risks and rewards of ownership are retained but control of

the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price

unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the

present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently

carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when,

and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account,

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet 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.

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 5 (2017 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 September 2017

and 31 August 2018

1,370

AMORTISATION

At 1 September 2017

343

Charge for year

342

At 31 August 2018

685

NET BOOK VALUE

At 31 August 2018

685

At 31 August 2017

1,027

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2017

26,135

Additions

6,617

At 31 August 2018

32,752

DEPRECIATION

At 1 September 2017

23,965

Charge for year

3,457

At 31 August 2018

27,422

NET BOOK VALUE

At 31 August 2018

5,330

At 31 August 2017

2,170

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 September 2017

and 31 August 2018

5,531

NET BOOK VALUE

At 31 August 2018

5,531

At 31 August 2017

5,531

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

95,856

42,843

Bad debt provision

-

(1,298

)

Other debtors

1,165

1,165

VAT

-

10,899

Prepayments

1,998

1,349

99,019

54,958

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

11,293

43,111

Tax

12,599

13,160

Social security and other taxes

3,811

8,125

VAT

8,417

-

Other creditors

9,637

9,423

Net wages

8,421

8,131

Directors' current accounts

119

620

Accrued expenses

2,095

1,850

56,392

84,420

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Between one and five years

49,440

14,580

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2018 and

31 August 2017:

2018

2017

£

£

J M Cudworth

Balance outstanding at start of year

(620

)

(190

)

Amounts advanced

139,501

124,570

Amounts repaid

(139,000

)

(125,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(119

)

(620

)

The maximum balance owed by the director to the company in the year was £93,322.

11.	ULTIMATE CONTROLLING PARTY

The director, J M Cudworth, controls the company by way of his 100% interest in the issued ordinary share

capital.