Company Registration No. 12583394 (England and Wales)
OTK Lifestyle Limited
Filleted Accounts
for the year ended 31 May 2021
OTK Lifestyle Limited
Filleted Accounts
Contents
OTK Lifestyle Limited
Company Information
for the year ended 31 May 2021
Company Number
12583394 (England and Wales)
Registered Office
31A New Cavendish Street
Flat 3
London
W1G 9UF
Accountants
YP Finance
Hawthorne House
17A Hawthorne Drive
Leicester
Leicestershire
LE5 6DL
OTK Lifestyle Limited
Statement of financial position
as at 31 May 2021
Cash at bank and in hand
989
Creditors: amounts falling due within one year
(2,445)
Total assets less current liabilities
266
Creditors: amounts falling due after more than one year
(33,580)
Profit and loss account
(33,315)
Shareholders' funds
(33,314)
For the year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 March 2022 and were signed on its behalf by
Margaux Lunt
Director
Company Registration No. 12583394
OTK Lifestyle Limited
Notes to the Accounts
for the year ended 31 May 2021
OTK Lifestyle Limited is a private company, limited by shares, registered in England and Wales, registration number 12583394. The registered office is 31A New Cavendish Street, Flat 3, London, W1G 9UF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Debtors: amounts falling due within one year
2021
5
Creditors: amounts falling due within one year
2021
Loans from directors
1,682
OTK Lifestyle Limited
Notes to the Accounts
for the year ended 31 May 2021
6
Creditors: amounts falling due after more than one year
2021
Loans from directors
33,580
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
Shares issued during the period:
1 Ordinary shares of £1 each
1
8
Average number of employees
During the year the average number of employees was 0.
