Odus Internet Systems Limited - Accounts to registrar (filleted) - small 18.1

Odus Internet Systems Limited - Accounts to registrar (filleted) - small 18.1

ODUS INTERNET SYSTEMS LIMITED - Company Information

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REGISTERED NUMBER: 04061652 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

ODUS INTERNET SYSTEMS LIMITED
ODUS INTERNET SYSTEMS LIMITED (REGISTERED NUMBER: 04061652)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ODUS INTERNET SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2018







DIRECTOR: E Odufeso





REGISTERED OFFICE: 2 Kinsley Road
Walthamstow
E17 4AU





REGISTERED NUMBER: 04061652 (England and Wales)





ACCOUNTANTS: Accountancy Group
Accountants & Business Consultants
SVS House
Oliver Grove
London
SE25 6EJ
Page 1
ODUS INTERNET SYSTEMS LIMITED (REGISTERED NUMBER: 04061652)

BALANCE SHEET
31 JANUARY 2018

2018 2017
Notes £    £   
FIXED ASSETS
Tangible assets 4 250 346

CURRENT ASSETS
Debtors 5 - 5,408
Cash at bank 279,037 215,697
279,037 221,105
CREDITORS
Amounts falling due within one year 6 (42,513 ) (39,240 )
NET CURRENT ASSETS 236,524 181,865
TOTAL ASSETS LESS CURRENT
LIABILITIES
236,774
182,211

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 7 236,772 182,209
SHAREHOLDERS' FUNDS 236,774 182,211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 17 September 2018 and were signed by:





E Odufeso - Director


The notes form part of these financial statements

Page 2
ODUS INTERNET SYSTEMS LIMITED (REGISTERED NUMBER: 04061652)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018

1. STATUTORY INFORMATION

Odus Internet Systems Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

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ODUS INTERNET SYSTEMS LIMITED (REGISTERED NUMBER: 04061652)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2018

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 February 2017
and 31 January 2018 8,286
DEPRECIATION
At 1 February 2017 7,940
Charge for year 96
At 31 January 2018 8,036
NET BOOK VALUE
At 31 January 2018 250
At 31 January 2017 346

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors - 5,408

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Taxation and social security 21,894 18,621
Other creditors 20,619 20,619
42,513 39,240

7. RESERVES
Retained
earnings
£   

At 1 February 2017 182,209
Profit for the year 70,059
Dividends (15,496 )
At 31 January 2018 236,772

8. RELATED PARTY DISCLOSURES

The company was under the control of Mr E Odufeso throughout the current and previous year. Mr Odufeso is
the managing director and 50% shareholder (2017: 50%). Company owed £20,619, (2017: £28,568) to the
director at the balance sheet date. Loan was interest free and repayable on demand.

Page 4