Octopos Limited - Accounts to registrar (filleted) - small 18.1
Octopos Limited - Accounts to registrar (filleted) - small 18.1
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2017 |
for |
OCTOPOS LIMITED |
OCTOPOS LIMITED (REGISTERED NUMBER: 05741642) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 AUGUST 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
OCTOPOS LIMITED |
Company Information |
FOR THE YEAR ENDED 31 AUGUST 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Kestrel Court |
Harbour Road |
Portishead |
Bristol |
BS20 7AN |
OCTOPOS LIMITED (REGISTERED NUMBER: 05741642) |
Balance Sheet |
31 AUGUST 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
OCTOPOS LIMITED (REGISTERED NUMBER: 05741642) |
Balance Sheet - continued |
31 AUGUST 2017 |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved and authorised for issue by the director on |
OCTOPOS LIMITED (REGISTERED NUMBER: 05741642) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 AUGUST 2017 |
1. | COMPANY INFORMATION |
Octopos Limited is a |
registered number and registered office address can be found on the Company Information page. |
The company's principal activities and nature of its operations are disclosed in the Directors' Report. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small |
Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and |
Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary |
amounts in these financial statements are rounded to the nearest £. |
The financial statements have been prepared on the historical cost convention. The principal accounting |
policies adopted are set out below. |
Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company |
has adequate resources to continue in operational existence for the foreseeable future. Thus the directors |
continue to adopt the going concern basis of accounting in preparing the financial statements. |
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
OCTOPOS LIMITED (REGISTERED NUMBER: 05741642) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid |
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown |
within borrowings in current liabilities. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 |
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are |
recognised when the company becomes party to the contractual provisions of the instrument. Financial assets |
and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
the asset and settle the liability simultaneously. |
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash |
and bank balances, are initially measured at transaction price including transaction costs and are subsequently |
carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows |
from the asset expire or are settled, or when the company transfers the financial asset and substantially all the |
risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are |
retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an |
unrelated third party. |
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are |
initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the |
debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial |
liabilities are derecognised when, and only when, the company's contractual obligations are discharged, |
cancelled, or they expire. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
OCTOPOS LIMITED (REGISTERED NUMBER: 05741642) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
At 31 August 2017 |
AMORTISATION |
Charge for year |
At 31 August 2017 |
NET BOOK VALUE |
At 31 August 2017 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 September 2016 |
Additions |
At 31 August 2017 |
DEPRECIATION |
At 1 September 2016 |
Charge for year |
At 31 August 2017 |
NET BOOK VALUE |
At 31 August 2017 |
At 31 August 2016 |
OCTOPOS LIMITED (REGISTERED NUMBER: 05741642) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 September 2016 |
and 31 August 2017 |
NET BOOK VALUE |
At 31 August 2017 |
At 31 August 2016 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Bad debt provision | (1,298 | ) | - |
Other debtors |
VAT |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | - | 7,773 |
Other creditors |
Net wages | 8,131 | - |
Directors' current accounts | 620 | 190 |
Accrued expenses |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Between one and five years |
OCTOPOS LIMITED (REGISTERED NUMBER: 05741642) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 August 2017 and |
31 August 2016: |
2017 | 2016 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
The maximum balance owed by the director to the company in the year was £80,723. |
11. | ULTIMATE CONTROLLING PARTY |
The director, J M Cudworth, controls the company by way of his 100% interest in the issued ordinary share |
capital. |