OEM Electrical Components Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 08134062 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2014

for

OEM Electrical Components Ltd

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

CURRENT ASSETS

Stocks

5,657

3,884

Debtors

191,252

98,467

Cash at bank

185,130

105,166

382,039

207,517

CREDITORS

Amounts falling due within one year

225,217

153,408

NET CURRENT ASSETS

156,822

54,109

TOTAL ASSETS LESS CURRENT LIABILITIES

156,822

54,109

CAPITAL AND RESERVES

Called up share capital

2

100

100

Profit and loss account

156,722

54,009

SHAREHOLDERS' FUNDS

156,822

54,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 January 2015 and were signed on its behalf by:

B Johnson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods and marketing services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the profit and loss account in the period to which they relate.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.14

30.9.13

value:

£

£

50

"A" Ordinary

£1

50

70

5

"B" Ordinary

£1

5

5

25

"C" Ordinary

£1

25

25

20

"D" Ordinary

£1

20

-

100

100

Allotted and issued:

Number:

Class:

Nominal

30.9.14

30.9.13

value:

£

£

20

"D" Ordinary

£1

20

-

On 7th July 2014, the company passed a resolution to reclassify 5 of the "A" ordinary shares as 5 "D" ordinary

shares. The "D" shares rank parri passu.