Octophin Digital Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10007383 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022

FOR

OCTOPHIN DIGITAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

F Hnizdo

REGISTERED OFFICE:

Better Space, 127 Farringdon Rd,

London Better Space

Farringdon Road

London

EC1R 3DA

REGISTERED NUMBER:

10007383 (England and Wales)

ACCOUNTANTS:

Christopher & Co

Chartered Accountants

51a Anson Road

Tufnell Park

London

N7 0AR

FIXED ASSETS

Tangible assets

4

7,015

3,491

CURRENT ASSETS

Debtors

5

123,453

57,140

Cash at bank

25,735

11,392

149,188

68,532

CREDITORS

Amounts falling due within one year

6

111,841

42,162

NET CURRENT ASSETS

37,347

26,370

TOTAL ASSETS LESS CURRENT LIABILITIES

44,362

29,861

PROVISIONS FOR LIABILITIES

1,333

663

NET ASSETS

43,029

29,198

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

42,979

29,148

SHAREHOLDERS' FUNDS

43,029

29,198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 13 February 2023 and were signed by:

F Hnizdo - Director

1.	STATUTORY INFORMATION

Octophin Digital 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.

Plant and machinery etc

-

25% on reducing balance

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 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.

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 5 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2021

7,337

Additions

5,862

At 28 February 2022

13,199

DEPRECIATION

At 1 March 2021

3,846

Charge for year

2,338

At 28 February 2022

6,184

NET BOOK VALUE

At 28 February 2022

7,015

At 28 February 2021

3,491

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade debtors

123,453

17,640

Other debtors

-

39,500

123,453

57,140

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade creditors

30

29

Taxation and social security

79,952

28,625

Other creditors

31,859

13,508

111,841

42,162

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2022 and 28 February 2021:

28.2.22

28.2.21

£

£

F Hnizdo

Balance outstanding at start of year

(956

)

(6

)

Amounts repaid

(7,708

)

(950

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(8,664

)

(956

)