Ourtec Limited - Accounts to registrar (filleted) - small 18.2
Ourtec Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 November 2019 |
| for |
| Ourtec Limited |
| Ourtec Limited (Registered number: 09398565) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Ourtec Limited |
| Company Information |
| for the Year Ended 30 November 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 4-6 Swaby's Yard |
| Walkergate |
| Beverley |
| East Yorkshire |
| HU17 9BZ |
| Ourtec Limited (Registered number: 09398565) |
| Balance Sheet |
| 30 November 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks | 4 |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Ourtec Limited (Registered number: 09398565) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2019 |
| 1. | STATUTORY INFORMATION |
| Ourtec Limited is a |
| and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| With the advent of the COVID-19 pandemic we are in uncertain times and the directors are mindful of the impact on the future |
| trading prospects for the company as it complies with the safety measures and emergency legislation recently announced by |
| the United Kingdom Government. |
| Clearly this will have an impact on the future viability of the company. We have therefore updated our trading predictions |
| based on the anticipated impact of a reduction in trade, whilst also having access to support currently being offered by the |
| United Kingdom Government. We believe that our assumptions are realistic based on evidence currently available, and that |
| the company will consequently have enough headroom within its liquid capital to continue for the foreseeable future. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
| tax and other sales taxes. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks |
| to their present location and condition. |
| 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 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Ourtec Limited (Registered number: 09398565) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2019 |
| 4. | STOCKS |
| 2019 | 2018 |
| £ | £ |
| Work-in-progress |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Other creditors |
| Directors' current accounts | 13,932 | - |
| Accrued expenses |
| 7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 November 2019 and 30 November 2018: |
| 2019 | 2018 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| The Director has provided the company with a loan, which is unsecured, interest free and repayable upon demand. |
| During the previous year, the company provided the director with a short-term loan, which was unsecured, interest free and |
| repayable upon demand. |
| 8. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |