OC Tec Limited 31/03/2020 iXBRL
OC Tec Limited 31/03/2020 iXBRL
Company registration number:
11213541
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Company number |
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Registered office |
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Accountants |
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Queensgate House | ||
23 North Park Road | ||
Harrogate | ||
North Yorkshire | ||
HG1 5PD | ||
Statement of financial position
31 March 2020
31/03/20 | 31/03/19 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 4 |
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Current assets | |||||||||
Debtors | 5 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 6 |
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Net current liabilities |
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Total assets less current liabilities |
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Net liabilities |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders deficit |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
07 December 2020
, and are signed on behalf of the board by:
Director
Company registration number:
11213541
Notes to the financial statements
Year ended 31 March 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Becks Mill, Becks Road, Keighley, West Yorkshire, BD21 1SD.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Research and development
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
4.
Tangible assets
Plant and machinery | Total | ||
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Cost | |||
At 1 April 2019 |
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Additions |
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At 31 March 2020 |
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Depreciation | |||
At 1 April 2019 | - | - | |
Charge for the year |
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At 31 March 2020 |
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Carrying amount | |||
At 31 March 2020 |
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At 31 March 2019 |
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5.
Debtors
31/03/20 | 31/03/19 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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6.
Creditors: amounts falling due within one year
31/03/20 | 31/03/19 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
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7.
Going concern
The liabilities exceeded assets as at the balance sheet date. The accounts have been prepared on a going concern basis which assumes the continued support of the company's creditors.