Oztech Limited - Period Ending 2016-11-30

Registration number: 09322458

Oztech Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2016
 

C V Ross & Co Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Oztech Limited
(Registration number: 09322458)
Abbreviated Balance Sheet at 30 November 2016

		Note			30 November 2016 £			30 November 2015 £
Fixed assets
Tangible fixed assets					665			520
Current assets
Debtors					8,492			11,672
Cash at bank and in hand					890			156
					9,382			11,828
Creditors: Amounts falling due within one year					(9,954)			(12,297)
Net current liabilities					(572)			(469)
Net assets					93			51
Capital and reserves
Called up share capital					10			10
Profit and loss account					83			41
Shareholders' funds					93			51

The notes on pages 3 to 5 form an integral part of these financial statements.
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Oztech Limited
(Registration number: 09322458)
Abbreviated Balance Sheet at 30 November 2016
......... continued

For the year ending 30 November 2016 the company was entitled to exemption 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 director acknowledges his 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 .

Approved by the director on 29 August 2017

.........................................
Mr Oliver Price
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
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Oztech Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 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.

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
Office equipment	25% reducing balance
Plant and machinery	25% reducing balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

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Oztech Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2015		686			686
Additions		366			366
At 30 November 2016		1,052			1,052
Depreciation
At 1 December 2015		166			166
Charge for the year		221			221
At 30 November 2016		387			387
Net book value
At 30 November 2016		665			665
At 30 November 2015		520			520

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Oztech Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

3	Related party transactions

Director's advances and credits

	Year ended 30 November 2016 Advance/ Credit £	Year ended 30 November 2016 Repaid £	21 November 2014 to 30 November 2015 Advance/ Credit £	21 November 2014 to 30 November 2015 Repaid £
Mr Oliver Price
Balance owed to/(from) the director	(2,238)	-	(1,729)	-

Other related party transactions

During the year the company made the following related party transactions:

Mr O Price (Director and shareholder) During the period, rent was paid to the director of £208 (2015: £220) . At the balance sheet date the amount due to Mr O Price was £nil (2015 - £nil).

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