O.T.C. Consultancy Ltd - Accounts to registrar (filleted) - small 18.2
O.T.C. Consultancy Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements For The Year Ended 31 July 2022 |
| for |
| O.T.C. Consultancy Ltd |
| O.T.C. Consultancy Ltd (Registered number: 02439729) |
| Contents of the Financial Statements |
| For The Year Ended 31 July 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| O.T.C. Consultancy Ltd |
| Company Information |
| For The Year Ended 31 July 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 2nd Floor Refuge House |
| 33-37 Watergate Row |
| Chester |
| CH1 2LE |
| O.T.C. Consultancy Ltd (Registered number: 02439729) |
| Balance Sheet |
| 31 July 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| O.T.C. Consultancy Ltd (Registered number: 02439729) |
| Notes to the Financial Statements |
| For The Year Ended 31 July 2022 |
| 1. | STATUTORY INFORMATION |
| O.T.C. Consultancy Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparation |
| The 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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
| Going Concern |
| During the year the company incurred a loss after gift aid to parent company of £5,018 (2021: loss of £5,267) and the holding company (charity) a profit of £90,245 (2021: profit of £58,419). The company has net assets of £15,365 (2021: net assets £20,383) and the group has reserves of £1,012,950 (2021: £927,723) and the directors believe that with the support of the holding company there will be sufficient resources to enable both companies to continue to operate for the foreseeable future. Group working capital at the end of the year was £383,511 (2021: £295,509) and has remained strong since the year end. |
| In deciding to adopt a going concern basis for preparing the accounts, the directors have prepared forecasts which consider the current economic climate and are aware of the effects that this may subsequently have on the company. The directors have adopted relevant operational strategies in order to safeguard the business for the ensuing 12 months and have concluded that the company continues to be a going concern.. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover is recognised in the financial year to which the turnover relates. Turnover relating to future accounting periods is carried forward within deferred income.. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
| O.T.C. Consultancy Ltd (Registered number: 02439729) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 July 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2021 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 August 2021 |
| and 31 July 2022 |
| DEPRECIATION |
| At 1 August 2021 |
| Charge for year |
| At 31 July 2022 |
| NET BOOK VALUE |
| At 31 July 2022 |
| At 31 July 2021 |
| O.T.C. Consultancy Ltd (Registered number: 02439729) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 July 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| VAT |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | RELATED PARTY DISCLOSURES |
| During the year the company paid management charges and other costs of £42,780 (2021: £42,780) to the parent company, Oldham Engineering Group Training Association Limited. the company paid net income of £70,000 (2021: £22,000) to the parent company under a deed of covenant. At 31 July 2022, OTC Consultancy Limited owed the parent company £81,882 (2021: £27,044) |