Descended From Odin Ltd - Accounts to registrar (filleted) - small 18.2

Descended From Odin Ltd - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 10660485(England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2019

for

Descended From Odin Ltd

Descended From Odin Ltd (Registered number: 10660485)






Contents of the Financial Statements
for the Year Ended 31 March 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Descended From Odin Ltd

Company Information
for the Year Ended 31 March 2019







DIRECTOR: T P Huntley



REGISTERED OFFICE: 12 Bridgford Road
West Bridgford
Nottingham
Nottinghamshire
NG2 6AB



REGISTERED NUMBER: 10660485(England and Wales)



ACCOUNTANTS: Brooks Mayfield Limited
Chartered Accountants
12 Bridgford Road
West Bridgford
Nottinghamshire
NG2 6AB



BANKERS: HSBC
Market Place
Newark
Nottingham
Nottinghamshire
NG24 1EQ

Descended From Odin Ltd (Registered number: 10660485)

Balance Sheet
31 March 2019

31.3.19 31.3.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 12,903 4,885

CURRENT ASSETS
Stocks 139,317 36,000
Debtors 4 170,691 -
Cash at bank 31,052 18,894
341,060 54,894
CREDITORS
Amounts falling due within one year 5 343,032 61,320
NET CURRENT LIABILITIES (1,972 ) (6,426 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,931

(1,541

)

CREDITORS
Amounts falling due after more than
one year

6

6,667

23,066
NET ASSETS/(LIABILITIES) 4,264 (24,607 )

CAPITAL AND RESERVES
Called up share capital 2 2
Share premium 39,999 39,999
Retained earnings (35,737 ) (64,608 )
4,264 (24,607 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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.

Descended From Odin Ltd (Registered number: 10660485)

Balance Sheet - continued
31 March 2019


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 4 June 2019and were signed by:





T P Huntley- Director


Descended From Odin Ltd (Registered number: 10660485)

Notes to the Financial Statements
for the Year Ended 31 March 2019

1. STATUTORY INFORMATION

Descended From Odin Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Turnover is measured at the fair value of the consideration receivable, excluding discounts,
rebates and value added tax, and is derived from the principal activity of the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.

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.

Descended From Odin Ltd (Registered number: 10660485)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2018 - 894 4,900 5,794
Additions 3,682 7,148 - 10,830
At 31 March 2019 3,682 8,042 4,900 16,624
DEPRECIATION
At 1 April 2018 - 93 816 909
Charge for year 341 1,450 1,021 2,812
At 31 March 2019 341 1,543 1,837 3,721
NET BOOK VALUE
At 31 March 2019 3,341 6,499 3,063 12,903
At 31 March 2018 - 801 4,084 4,885

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.19 31.3.18
£    £   
Other debtors 170,691 -

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.19 31.3.18
£    £   
Bank loans and overdrafts 116,222 6,125
Trade creditors 75,650 18,009
Taxation and social security 15,981 -
Other creditors 135,179 37,186
343,032 61,320

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.19 31.3.18
£    £   
Bank loans 6,667 11,666
Other creditors - 11,400
6,667 23,066

Descended From Odin Ltd (Registered number: 10660485)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended
31 March 2019 and 31 March 2018:

31.3.19 31.3.18
£    £   
T P Huntley
Balance outstanding at start of year 28,004 -
Amounts advanced 223,515 52,351
Amounts repaid (145,913 ) (24,347 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 105,606 28,004

The above balance is payable to the director by the company and is included within other
creditors due within one year.

Interest of £11,000 (2018: £Nil) has been accrued within this loan balance.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Descended From Odin Ltd

The following reproduces the text of the report prepared for the director in respect of the
company's annual unaudited financial statements. In accordance with the Companies Act
2006, the company is only required to file a Balance Sheet. Readers are cautioned that the
Income Statement and certain other primary statements and the Report of the Director are
not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for
your approval the financial statements of Descended From Odin Ltd for the year ended
31 March 2019 which comprise the Statement of Income and Retained Earnings, Balance Sheet
and the related notes from the company's accounting records and from information and
explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Descended From Odin Ltd in accordance with the terms of our engagement letter dated 5 March 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Descended From Odin Ltd and state those matters that we have agreed to state to the director of Descended From Odin Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Descended From Odin Ltd and its director for our work or for this report.

It is your duty to ensure that Descended From Odin Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Descended From Odin Ltd. You consider that Descended From Odin Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Descended From Odin Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Brooks Mayfield Limited
Chartered Accountants
12 Bridgford Road
West Bridgford
Nottinghamshire
NG2 6AB


Date: .............................................