REGISTERED NUMBER: 10660485 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Descended From Odin Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

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

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.

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 2019 and were signed by:

T P Huntley - Director

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.

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

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.

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: .............................................