Overseas Direct Investment Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02680919 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018

FOR

OVERSEAS DIRECT INVESTMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D K Tait

C L Tait

SECRETARY:

D K Tait

REGISTERED OFFICE:

Units 1 & 2 South Farm Court

South Farm Road

Budleigh Salterton

Devon

EX9 7AZ

REGISTERED NUMBER:

02680919 (England and Wales)

ACCOUNTANTS:

Neil Beaton & Co.

Janda

The Friary

Old Windsor

Windsor

Berkshire

SL4 2NR

FIXED ASSETS

Tangible assets

4

29,890

42,370

Investments

5

100

100

29,990

42,470

CURRENT ASSETS

Stocks

58,698

62,229

Debtors

6

25,989

42,323

Cash in hand

319

5

85,006

104,557

CREDITORS

Amounts falling due within one year

7

61,072

82,933

NET CURRENT ASSETS

23,934

21,624

TOTAL ASSETS LESS CURRENT LIABILITIES

53,924

64,094

CREDITORS

Amounts falling due after more than one year

8

30,033

36,599

NET ASSETS

23,891

27,495

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

18,891

22,495

SHAREHOLDERS' FUNDS

23,891

27,495

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

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

The directors acknowledge their 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 Board of Directors on 29 March 2019 and were signed on its behalf by:

D K Tait - Director

1.	STATUTORY INFORMATION

Overseas Direct Investment 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost, 20% on cost and 10% on cost

Stocks

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

moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future. Thus they continues to adopt the going concern basis of accounting in

preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2017

and 31 July 2018

120,521

DEPRECIATION

At 1 August 2017

78,151

Charge for year

12,480

At 31 July 2018

90,631

NET BOOK VALUE

At 31 July 2018

29,890

At 31 July 2017

42,370

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2017

and 31 July 2018

37,335

DEPRECIATION

At 1 August 2017

13,215

Charge for year

8,600

At 31 July 2018

21,815

NET BOOK VALUE

At 31 July 2018

15,520

At 31 July 2017

24,120

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 August 2017

and 31 July 2018

100

NET BOOK VALUE

At 31 July 2018

100

At 31 July 2017

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Trade debtors

18,293

23,578

Other debtors

7,696

18,745

25,989

42,323

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Bank loans and overdrafts

9,611

13,772

Hire purchase contracts

2,746

4,810

Trade creditors

38,117

58,686

Amounts owed to associated company

100

100

Taxation and social security

6,838

405

Other creditors

3,660

5,160

61,072

82,933

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.18

31.7.17

£

£

Bank loans

11,871

15,692

Hire purchase contracts

18,162

20,907

30,033

36,599

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.18

31.7.17

£

£

Bank overdrafts

4,688

8,849

The bank overdraft is secured by a personal guarantee from a director, Mr D K Tait. The bank loan is secured by

a debenture on the company's assets and by a guarantee from Mr D K Tait.