OTP Building Services Limited - Period Ending 2016-09-30

Registration number: 05622522

OTP Building Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

OTP Building Services Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

OTP Building Services Limited
(Registration number: 05622522)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets		2			1			1
Tangible fixed assets		2			23,708			5,704
					23,709			5,705
Current assets
Stocks					933,076			875,481
Debtors					257,831			145,738
Cash at bank and in hand					163,835			235,061
					1,354,742			1,256,280
Creditors: Amounts falling due within one year					(1,314,575)			(1,258,486)
Net current assets/(liabilities)					40,167			(2,206)
Total assets less current liabilities					63,876			3,499
Provisions for liabilities					(4,742)			(659)
Net assets					59,134			2,840
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					59,132			2,838
Shareholders' funds					59,134			2,840

For the year ending 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

Approved by the Board on 19 June 2017 and signed on its behalf by:

Mr O T Prout
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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OTP Building Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Goodwill is the difference between the fair value of consideration paid for an acquired entity and the aggregate of the fair value of that entity’s identifiable assets and liabilities.

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	nil due to minimal value

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% straight line basis
Motor vehicles	20% straight line basis
Office equipment	20% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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OTP Building Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		1			26,970			26,971
Additions		-			22,698			22,698
Disposals		-			(9,000)			(9,000)
At 30 September 2016		1			40,668			40,669
Depreciation
At 1 October 2015		-			21,266			21,266
Charge for the year		-			4,394			4,394
Eliminated on disposals		-			(8,700)			(8,700)
At 30 September 2016		-			16,960			16,960
Net book value
At 30 September 2016		1			23,708			23,709
At 30 September 2015		1			5,704			5,705

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

4

Control

The company is controlled by Rowe Properties Holdings Limited. The company is registered in England & Wales. The company is controlled by Mrs S M Rowe who owns two thirds of the entire share capital of the parent company

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