Odin Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07815719 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Odin Solutions Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

K S Bishop

D S J E Cameron

REGISTERED OFFICE:

44-46 Old Steine

Brighton

East Sussex

BN1 1NH

BUSINESS ADDRESS:

199 Bishopsgate

Spitalfields

London

EC2M 3TY

REGISTERED NUMBER:

07815719 (England and Wales)

ACCOUNTANTS:

Antrams Accountancy Services LLP

44-46 Old Steine

Brighton

East Sussex

BN1 1NH

FIXED ASSETS

Tangible assets

4

70,329

102,545

CURRENT ASSETS

Stocks

-

21,300

Debtors

5

589,890

544,196

Cash at bank

199,509

130,277

789,399

695,773

CREDITORS

Amounts falling due within one year

6

399,038

491,629

NET CURRENT ASSETS

390,361

204,144

TOTAL ASSETS LESS CURRENT LIABILITIES

460,690

306,689

PROVISIONS FOR LIABILITIES

13,363

-

NET ASSETS

447,327

306,689

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

447,227

306,589

447,327

306,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2021 and were signed on its behalf by:

K S Bishop - Director

1.	STATUTORY INFORMATION

Odin Solutions 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

life.

Office equipment - 25% on reducing balance

Computer equipment - 33% on cost

Work in progress

Work in progress is valued at the lower of cost and net realisable value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

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

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 20 (2019 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

217,268

Additions

8,256

Disposals

(16,745

)

At 31 March 2020

208,779

DEPRECIATION

At 1 April 2019

114,723

Charge for year

32,375

Eliminated on disposal

(8,648

)

At 31 March 2020

138,450

NET BOOK VALUE

At 31 March 2020

70,329

At 31 March 2019

102,545

5.

DEBTORS

31.3.20

31.3.19

£

£

Amounts falling due within one year:

Trade debtors

379,053

453,020

Other debtors

83,809

91,176

462,862

544,196

Amounts falling due after more than one year:

Other debtors

127,028

-

Aggregate amounts

589,890

544,196

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

141,297

126,781

Taxation and social security

151,782

186,651

Other creditors

105,959

178,197

399,038

491,629

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

B S Cheema

Balance outstanding at start of year

-

-

Amounts advanced

16,000

-

Amounts repaid

(1,337

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,663

-

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Odin Solutions Limited for the year ended 31st March 2020 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Odin Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Odin Solutions Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Odin Solutions Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Odin Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Odin Solutions Limited. You consider that Odin Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Odin Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Antrams Accountancy Services LLP

44-46 Old Steine

Brighton

East Sussex

BN1 1NH

17 March 2021