Otter Windows Ltd Filleted accounts for Companies House (small and micro)

1 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06546357 2022-04-01 2023-03-31 06546357 2023-03-31 06546357 2022-03-31 06546357 2021-04-01 2022-03-31 06546357 2022-03-31 06546357 2021-03-31 06546357 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06546357 core:FurnitureFittings 2022-04-01 2023-03-31 06546357 core:MotorVehicles 2022-04-01 2023-03-31 06546357 bus:Director1 2022-04-01 2023-03-31 06546357 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 06546357 core:FurnitureFittings 2022-03-31 06546357 core:MotorVehicles 2022-03-31 06546357 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 06546357 core:FurnitureFittings 2023-03-31 06546357 core:MotorVehicles 2023-03-31 06546357 core:WithinOneYear 2023-03-31 06546357 core:WithinOneYear 2022-03-31 06546357 core:ShareCapital 2023-03-31 06546357 core:ShareCapital 2022-03-31 06546357 core:RetainedEarningsAccumulatedLosses 2023-03-31 06546357 core:RetainedEarningsAccumulatedLosses 2022-03-31 06546357 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 06546357 core:FurnitureFittings 2022-03-31 06546357 core:MotorVehicles 2022-03-31 06546357 bus:SmallEntities 2022-04-01 2023-03-31 06546357 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06546357 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06546357 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06546357 bus:FullAccounts 2022-04-01 2023-03-31

COMPANY REGISTRATION NUMBER: 06546357

OTTER WINDOWS LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2023

OTTER WINDOWS LTD

FINANCIAL STATEMENTS

Year ended 31 March 2023

CONTENTS	PAGE

Balance sheet	1

Notes to the financial statements	2

OTTER WINDOWS LTD

BALANCE SHEET

31 March 2023

	2023	2022
Note	£	£

FIXED ASSETS

Tangible assets	5	22,771	40,690

CURRENT ASSETS

Stocks		30,768	37,578
Debtors	6	334,956	319,796
Cash at bank and in hand		85,886	49,701
		---------	---------
		451,610	407,075

CREDITORS: amounts falling due within one year	7	( 411,489)	( 234,708)
		---------	---------
NET CURRENT ASSETS		40,121	172,367
		--------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		62,892	213,057

PROVISIONS	( 1,656)	–
	--------	---------
NET ASSETS	61,236	213,057
	--------	---------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	61,136	212,957
	--------	---------
SHAREHOLDERS FUNDS	61,236	213,057
	--------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 31 March 2023 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:

Mr H Rushton
Director

Company registration number: 06546357

OTTER WINDOWS LTD

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2023

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Britannia Windows (UK) Limited, Kimberley Road, Clevedon, BS21 6QJ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Showroom	-	20% straight line
Fixtures, fittings and equipment	-	20% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	33% reducing balance
Website	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).

5. TANGIBLE ASSETS

	Showroom	Fixtures and fittings	Motor vehicles	Computer equipment	Website	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2022	21,869	72,603	59,861	10,373	1,630	166,336
Disposals	–	–	( 49,079)	–	( 1,630)	( 50,709)
	--------	--------	--------	--------	-------	---------
At 31 Mar 2023	21,869	72,603	10,782	10,373	–	115,627
	--------	--------	--------	--------	-------	---------
Depreciation
At 1 Apr 2022	7,523	58,325	48,205	9,963	1,630	125,646
Charge for the year	3,736	2,804	441	135	–	7,116
Disposals	–	–	( 38,276)	–	( 1,630)	( 39,906)
	--------	--------	--------	--------	-------	---------
At 31 Mar 2023	11,259	61,129	10,370	10,098	–	92,856
	--------	--------	--------	--------	-------	---------
Carrying amount
At 31 Mar 2023	10,610	11,474	412	275	–	22,771
	--------	--------	--------	--------	-------	---------
At 31 Mar 2022	14,346	14,278	11,656	410	–	40,690
	--------	--------	--------	--------	-------	---------

6. DEBTORS

	2023	2022
	£	£
Trade debtors	10,294	( 260)
Other debtors	324,662	320,056
	---------	---------
	334,956	319,796
	---------	---------

7. CREDITORS: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	15,178	29,678
Social security and other taxes	32,908	45,933
Other creditors	363,403	159,097
	---------	---------
	411,489	234,708
	---------	---------

8. RELATED PARTY TRANSACTIONS

Included in other debtors are the following balances due from companies related by common control:

	2023	2022
	£	£
Network Britannia Windows Limited	149,978	148,940
Yellow Sun Ltd	45,000	45,000
Polar Bear Windows Limited	–	20,000
Britannia Windows (UK) Ltd	104,420	74,511
	---------	---------
	299,398	288,451
	---------	---------

Included in other creditors are the following balances due to companies related by common control:

	2023	2022
	£	£
Perfecta Windows (UK) Ltd	1,530	1,200
Rodda & Hocking Ltd	13,200	13,200
Ffenestri Limited	193,000	18,000
Polar Bear Windows Limited	606	–
	---------	--------
	208,336	32,400
	---------	--------

The balances are interest free and repayable on demand.