OTTER_LIMITED - Accounts

OTTER LIMITED - Company Information

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Company Registration No. 01655802 (England and Wales)

OTTER LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

OTTER LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

OTTER LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

24,986

28,102

Current assets

Debtors

32,333

32,283

Cash at bank and in hand

8,390

40,723

40,673

Creditors: amounts falling due within one year

(68,639)

(64,838)

Net current liabilities

(27,916)

(24,165)

Total assets less current liabilities

(2,930)

3,937

Creditors: amounts falling due after more than one year

(54,426)

(57,356)

(50,489)

Capital and reserves

Called up share capital

30,000

Profit and loss account

(87,356)

(80,489)

Shareholders' funds

(57,356)

(50,489)

For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 28 February 2017

M Ford

Director

Company Registration No. 01655802

OTTER LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 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).

The financial statements have been prepared on a going concern basis as the directors have agreed to continue to support the company financially for the forseeable future.

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 other than freehold land 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:

Land and buildings Freehold

Over 25 years straight line

Plant and machinery

25% on a reducing balance basis

Fixed assets

Tangible assets

Cost

At 1 June 2015 & at 31 May 2016

88,177

Depreciation

At 1 June 2015

60,075

Charge for the year

3,116

At 31 May 2016

63,191

Net book value

At 31 May 2016

24,986

At 31 May 2015

28,102

Share capital

2016

2015

Allotted, called up and fully paid

30,000 Ordinary shares of £1 each

30,000

OTTER LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 3 -

Ultimate controlling party

The company is controlled by MJ Ford and Mrs CJ Ford together with members of their close family who between them own the entire share capital of the company.