Company Registration No. 09329893 (England and Wales)
Outsized Limited
Unaudited accounts
for the year ended 31 December 2018
Outsized Limited
Unaudited accounts
Contents
Outsized Limited
Company Information
for the year ended 31 December 2018
Directors
Niclas Arne Svensson Thelander
David Hobbs
Anurag Bhalla
Company Number
09329893 (England and Wales)
Registered Office
35 Grosvenor Road
London
N10 2DR
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Outsized Limited
Statement of financial position
as at 31 December 2018
Intangible assets
46,651
-
Cash at bank and in hand
31,266
11,129
Creditors: amounts falling due within one year
(34,224)
(51,769)
Net current assets/(liabilities)
137,110
(39,374)
Net assets/(liabilities)
191,303
(32,446)
Called up share capital
195
168
Share premium
471,757
224,927
Profit and loss account
(280,649)
(257,541)
Shareholders' funds
191,303
(32,446)
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 30 September 2019.
Niclas Arne Svensson Thelander
Director
Company Registration No. 09329893
Outsized Limited
Notes to the Accounts
for the year ended 31 December 2018
Outsized Limited is a private company, limited by shares, registered in England and Wales, registration number 09329893. The registered office is 35 Grosvenor Road, London, N10 2DR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Research expenditure is written off in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is capitalised within intangible assets and amortised when ready for use.
Outsized Limited
Notes to the Accounts
for the year ended 31 December 2018
4
Intangible fixed assets
Other
At 31 December 2018
57,376
Charge for the year
10,725
At 31 December 2018
10,725
At 31 December 2018
46,651
5
Tangible fixed assets
Computer equipment
6
Investments
Subsidiary undertakings
Valuation at 1 January 2018
6,097
Valuation at 31 December 2018
6,153
The company's investments at the balance sheet date comprise 100% share capital of Outsized India Private Ltd and Outsized South Africa Pty.
Outsized Limited
Notes to the Accounts
for the year ended 31 December 2018
Amounts due from group undertakings etc.
35,292
-
Accrued income and prepayments
1,556
-
8
Creditors: amounts falling due within one year
2018
2017
Trade creditors
26,300
1,558
Taxes and social security
1,348
2,694
Loans from directors
94
47,400
Allotted, called up and fully paid:
19,469 Ordinary shares of £0.01 each
194.69
167.56
Shares issued during the period:
2,713 Ordinary shares of £0.01 each
27.13
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Niclas Arne Svensson Thelander
Short Term Loan
500
(15,000)
(15,000)
500
Convertible Loan
(30,000)
-
(29,909)
(91)
Other Directors Loan
100
(513)
(1)
(412)
Convertible Loan
(18,000)
-
(17,909)
(91)
(47,400)
(15,513)
(62,819)
(94)
11
Transactions with related parties
Director Mr. A Bhalla and Mr. N Thelander have significant control over the company during the accounting period.
There is an intercompany loan owed by the subsidiaries, Outsized South Africa (Pty) Ltd and Outsized India Private Ltd, to Outsized Ltd at year-end.
Outsized South Africa (Pty) Ltd - £50,000
Outsized India Private Ltd - £5,291.89
Outsized Limited
Notes to the Accounts
for the year ended 31 December 2018
12
Average number of employees
During the year the average number of employees was 2 (2017: 2).
