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 2015

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 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

8,802

11,294

Current assets

Debtors

36,578

39,821

Cash at bank and in hand

5,417

9,703

41,995

49,524

Creditors: amounts falling due within one year

(43,385)

(59,602)

Net current liabilities

(1,390)

(10,078)

Total assets less current liabilities

7,412

1,216

Capital and reserves

Called up share capital

34,002

Share premium account

225,001

Profit and loss account

(251,591)

(257,787)

Shareholders' funds

7,412

1,216

For the financial year ended 31 December 2015 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 29 September 2016

L Cooper

Director

Company Registration No. 04105183

ODYSSEYZONE.COM LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 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 January 2015).

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 2015

101,089

Additions

442

At 31 December 2015

101,531

Depreciation

At 1 January 2015

89,795

Charge for the year

2,934

At 31 December 2015

92,729

Net book value

At 31 December 2015

8,802

At 31 December 2014

11,294

Share capital

2015

2014

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 2015

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

3.25

12,670

20,614

786

9,108

24,962

12,670

20,614

786

9,108

24,962