Company No:
Contents
DIRECTORS | Mrs A E Rowcliffe |
Ms A R Williams |
SECRETARY | Mrs A E Rowcliffe |
REGISTERED OFFICE | East Hill |
Ottery St Mary | |
EX11 1QH | |
United Kingdom |
COMPANY NUMBER | 06002939 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Centenary House | |
Peninsula Park | |
Rydon Lane | |
Exeter | |
Devon EX2 7XE |
Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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1,927,887 | 1,863,803 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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456,129 | 306,091 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current assets | 160,879 | 82,903 | ||
Total assets less current liabilities | 2,088,766 | 1,946,706 | ||
Creditors | ||||
Amounts falling due after more than one year | 6 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Ottertots Limited (registered number:
Ms A R Williams
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Ottertots Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Oak View, East Hill, Ottery St Mary, EX11 1QH, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
There are no material departures from FRS 102.
Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Land and buildings |
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Vehicles |
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Fixtures and fittings |
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Office equipment |
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Other property, plant and equipment |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
During the year, the company received cash grant of £62,034 (2020 - £226,892) under the Coronavirus Job Retention Scheme.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Land and buildings | Vehicles | Fixtures and fittings | Office equipment | Other property, plant and equipment |
Total | ||||||
£ | £ | £ | £ | £ | £ | ||||||
Cost | |||||||||||
At 01 December 2020 |
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Additions |
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Disposals |
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At 30 November 2021 |
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Accumulated depreciation | |||||||||||
At 01 December 2020 |
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Charge for the financial year |
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Disposals |
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At 30 November 2021 |
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Net book value | |||||||||||
At 30 November 2021 |
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At 30 November 2020 |
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2021 | 2020 | ||
£ | £ | ||
Other debtors |
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2021 | 2020 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Amounts owed to directors |
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Other creditors |
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Other loans |
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Accruals |
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Corporation tax |
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Other taxation and social security |
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A legal charge over the company freehold property.
An unlimited company debenture.
2021 | 2020 | ||
£ | £ | ||
Bank loans |
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Other loans |
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522,151 | 633,635 |
Included in the total bank borrowings due after more than one year at the period end is £522,151 (2020 - £607,209) on which the following security has been provided:
A legal charge over the company freehold property.
An unlimited company debenture.
2021 | 2020 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
2021 | 2020 | ||
£ | £ | ||
Balance owed by Director 1 | 145,911 | 49,113 | |
Balance owed by Director 2 | 60,382 | 0 |
During the year, £96,798 was advanced to Director 1 (2020: £54,926 ) and £60,382 was advanced to Director 2 (2020: £NIL).
Loans to directors are repayable on demand and interest is charged at 2.5%.