ODYSSEYZONE.COM_LTD - Accounts

ODYSSEYZONE.COM LTD - Company Information

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Company Registration No. 04105183 (England and Wales)

ODYSSEYZONE.COM LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

ODYSSEYZONE.COM LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ODYSSEYZONE.COM LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

11,294

14,617

Current assets

Debtors

39,821

29,922

Cash at bank and in hand

9,703

28,506

49,524

58,428

Creditors: amounts falling due within one year

(59,602)

(78,612)

Net current liabilities

(10,078)

(20,184)

Total assets less current liabilities

1,216

(5,567)

Capital and reserves

Called up share capital

34,002

Share premium account

225,001

Profit and loss account

(257,787)

(264,570)

Shareholders' funds

1,216

(5,567)

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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;

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 September 2015

L Cooper

Director

Company Registration No. 04105183

ODYSSEYZONE.COM LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Fixed assets

Tangible assets

Cost

At 1 January 2014

100,647

Additions

442

At 31 December 2014

101,089

Depreciation

At 1 January 2014

86,030

Charge for the year

3,765

At 31 December 2014

89,795

Net book value

At 31 December 2014

11,294

At 31 December 2013

14,617

Share capital

2014

2013

Allotted, called up and fully paid

34,002 ordinary shares of £1 each

34,002

Related party relationships and transactions

ODYSSEYZONE.COM LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

Related party relationships and transactions

(Continued)

- 3 -

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

L Cooper

4.00

(915)

22,000

487

8,902

12,670

(915)

22,000

487

8,902

12,670