Period from 29 November 2019 to
Registration number:
Ottertots Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Ottertots Limited
Company Information
Directors |
Mrs A R Williams Ms A E Rowcliffe |
Company secretary |
Ms A E Rowcliffe |
Registered office |
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Accountants |
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Ottertots Limited
Balance Sheet
27 November 2020
Note |
27 November |
28 November |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Ottertots Limited
Balance Sheet
27 November 2020
For the financial period ending 27 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 06002939
Ottertots Limited
Notes to the Unaudited Financial Statements
Period from 29 November 2019 to 27 November 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office and principal place of business is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There are no material departures from FRS 102.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
COVID-19
The directors of Ottertots Limited have considered the impact of COVID-19.
In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.
Tax
Tax is recognised in the profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Ottertots Limited
Notes to the Unaudited Financial Statements
Period from 29 November 2019 to 27 November 2020
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Ottertots Limited
Notes to the Unaudited Financial Statements
Period from 29 November 2019 to 27 November 2020
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold Property |
2% Straight Line |
Fixtures and Fittings |
20% Reducing Balance |
Equipment |
25% Reducing Balance |
Office Equipment |
25% Straight Line |
Motor Vehicles |
20% Reducing Balance |
Stocks
Stocks represent the value of consumables held by the company at the year end.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Ottertots Limited
Notes to the Unaudited Financial Statements
Period from 29 November 2019 to 27 November 2020
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Government grants |
During the year, the company received cash grants of £226,892 (2020: £NIL) under the Coronavirus Job Retention Scheme.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Ottertots Limited
Notes to the Unaudited Financial Statements
Period from 29 November 2019 to 27 November 2020
Tangible assets |
Freehold property |
Furniture, fittings and office equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 29 November 2019 |
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Additions |
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- |
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Disposals |
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At 27 November 2020 |
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Depreciation |
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At 29 November 2019 |
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Charge for the year |
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Eliminated on disposal |
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At 27 November 2020 |
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Carrying amount |
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At 27 November 2020 |
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At 28 November 2019 |
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Included within freehold property is land which is not depreciated. This land cost £782,751.
Ottertots Limited
Notes to the Unaudited Financial Statements
Period from 29 November 2019 to 27 November 2020
Debtors |
27 November |
28 November |
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Prepayments |
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Other debtors |
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Creditors |
Note |
27 November |
28 November |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Note |
27 November |
28 November |
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Due after one year |
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Loans and borrowings |
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Creditors include bank loans repayable by instalments of £276,366 (2019 - £363,292) due after more than five years.
Ottertots Limited
Notes to the Unaudited Financial Statements
Period from 29 November 2019 to 27 November 2020
Loans and borrowings |
27 November |
28 November |
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Non-current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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27 November |
28 November |
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Current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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Bank borrowings
Included in the total A legal charge over the company freehold property.
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Share capital |
Allotted, called up and fully paid shares
27 November |
28 November |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Ottertots Limited
Notes to the Unaudited Financial Statements
Period from 29 November 2019 to 27 November 2020
Related party transactions |
Advances to directors |
2020 |
At 29 November 2019 |
Advances to director |
Repayments by director |
At 27 November 2020 |
Mrs A R Williams |
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Interest free advance |
31,730 |
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( |
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2019 |
At 29 November 2018 |
Advances to director |
Repayments by director |
At 28 November 2019 |
Mrs A R Williams |
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Interest free advance |
76,573 |
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Ms A E Rowcliffe |
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Interest free advance |
53,269 |
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( |
- |