Otiotic Industries Limited - Full Accounts
Otiotic Industries Limited - Full Accounts
for the year ended 5th April 2016
CONTENTS
for the year ended 5th April 2016
The Accounts are comprised of the following:
Statement of Financial Position
Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.
Company No.
STATEMENT OF FINANCIAL POSITION
as at 5th April 2016
| 2015 | ||||||
| Note | £ | £ | £ | |||
| FIXED ASSETS | ||||||
| Property, plant and equipment | 4 | |||||
| CURRENT ASSETS | ||||||
| Cash at bank and in hand | ||||||
| CURRENT LIABILITIES | ||||||
| Creditors: amounts falling due | ||||||
| within one year | 5 | |||||
| NET CURRENT ASSETS | ||||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||
| Creditors: amounts falling due | ||||||
| after more than one year | - | - | ||||
| Provisions for liabilities and charges | ||||||
| Deferred taxation | ||||||
| NET ASSETS | ||||||
| CAPITAL AND RESERVES | ||||||
| Called up share capital | ||||||
| Retained earnings | ||||||
| SHAREHOLDERS FUNDS | ||||||
Approved by the Board on
Director
Company Number
NOTES TO THE ACCOUNTS
for the year ended 5th April 2016
1 Statutory information
These financial statements are presented in Sterling, which is the functional currency of the company.
2 Accounting policies
Basis of preparation of financial statements
Depreciation
Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Plant, machinery and vehicles |
Deferred Taxation
Provision is made for deferred taxation resulting from material timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes.
Deferred tax is calculated at the tax rates which are expected to apply in the periods when the timing differences will reverse.
3 Employee information
The average number of employees during the accounting period was
| 4 Property, plant and equipment | |||||||||||
| Plant | Fixtures | ||||||||||
| Land and | and | and | |||||||||
| Buildings | Machinery | Fittings | Total | ||||||||
| £ | £ | £ | £ | ||||||||
| Cost | |||||||||||
| At 6th April 2015 | |||||||||||
| Additions | - | - | |||||||||
| At 5th April 2016 | |||||||||||
| Depreciation | |||||||||||
| At 6th April 2015 | - | ||||||||||
| Charge for year | - | ||||||||||
| At 5th April 2016 | - | ||||||||||
| Net Book Value | |||||||||||
| At 5th April 2016 | |||||||||||
| At 5th April 2015 | |||||||||||
| 5 Creditors: amounts falling due within one year | 2016 | 2015 | |
| £ | £ | ||
| Corporation tax | |||
| Taxes and social security costs | |||
| Other creditors | |||
6 Transactions with Directors
There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".
| 2016 | 2015 | ||
| £ | £ | ||
| 102544 | 123969 | ||