Out Of Our Hands Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07884302 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Out Of Our Hands Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D G C Dewaele

S Dewaele

REGISTERED OFFICE:

Suite A, 10th Floor Maple House

High Street

Potters Bar

Hertfordshire

EN6 5BS

REGISTERED NUMBER:

07884302 (England and Wales)

ACCOUNTANTS:

The Greene Partnership LLP

Chartered Accountants

Suite A, 10th Floor Maple House

High Street

Potters Bar

Hertfordshire

EN6 5BS

FIXED ASSETS

Tangible assets

4

11,242

14,989

CURRENT ASSETS

Debtors

5

721,569

602,887

Cash at bank

47,295

162,700

768,864

765,587

CREDITORS

Amounts falling due within one year

6

414,032

348,158

NET CURRENT ASSETS

354,832

417,429

TOTAL ASSETS LESS CURRENT LIABILITIES

366,074

432,418

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

365,974

432,318

SHAREHOLDERS' FUNDS

366,074

432,418

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2020 and were signed on its behalf by:

D G C Dewaele - Director

1.	STATUTORY INFORMATION

Out Of Our Hands 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents the net invoiced amount of fees received in respect of its touring activities.

Tangible fixed assets

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

Equipment

-

25% on reducing balance

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 NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 January 2019

and 31 December 2019

97,465

DEPRECIATION

At 1 January 2019

82,476

Charge for year

3,747

At 31 December 2019

86,223

NET BOOK VALUE

At 31 December 2019

11,242

At 31 December 2018

14,989

5.

DEBTORS

31.12.19

31.12.18

£

£

Amounts falling due within one year:

Trade debtors

426,381

393,196

Other debtors

214,772

116,190

VAT

416

13,501

641,569

522,887

Amounts falling due after more than one year:

Other debtors

80,000

80,000

Aggregate amounts

721,569

602,887

Trade debtors include an amount of £409,136 (2018: £348,318) owed by We'll Sue You, a company under the common control of the directors and shareholders.

Other debtors include an amount of £119,012 (2018: £62,636) owed by Deewee Limited, and an amount of £147,483 (2018: £126,798) owed by Despacio Limited. The directors have shareholdings in both companies.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

78,162

88,180

Other creditors

332,870

251,744

Accrued expenses

3,000

8,234

414,032

348,158

Other creditors relate to an amount of £332,870 (2018: £251,744) owed to Out Of Money Limited, a company under the common control of the directors and shareholders.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is the directors.