1 Oak Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08656332 (England and Wales)

Financial Statements for the Year Ended 30 September 2018

for

1 Oak Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Sidhu

Mrs R Sidhu

REGISTERED OFFICE:

10C Peckingham Street

Halesowen

West Midlands

B63 3AW

REGISTERED NUMBER:

08656332 (England and Wales)

ACCOUNTANTS:

Blythe Phillips

10C Peckingham Street

Halesowen

West Midlands

B63 3AW

FIXED ASSETS

Tangible assets

4

497,323

417,397

CURRENT ASSETS

Stocks

11,332

13,827

Debtors

5

139,734

106,627

Cash at bank and in hand

199,013

126,536

350,079

246,990

CREDITORS

Amounts falling due within one year

6

197,402

134,945

NET CURRENT ASSETS

152,677

112,045

TOTAL ASSETS LESS CURRENT LIABILITIES

650,000

529,442

CREDITORS

Amounts falling due after more than one year

7

688,992

562,497

NET LIABILITIES

(38,992

)

(33,055

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(38,994

)

(33,057

)

SHAREHOLDERS' FUNDS

(38,992

)

(33,055

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 12 May 2019 and were signed on its behalf by:

P Sidhu - Director

1.	STATUTORY INFORMATION

1 Oak 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 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.

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

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2017 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2017

24,635

736,865

761,500

Additions

10,579

194,299

204,878

At 30 September 2018

35,214

931,164

966,378

DEPRECIATION

At 1 October 2017

9,966

334,137

344,103

Charge for year

5,549

119,403

124,952

At 30 September 2018

15,515

453,540

469,055

NET BOOK VALUE

At 30 September 2018

19,699

477,624

497,323

At 30 September 2017

14,669

402,728

417,397

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Other debtors

139,734

106,627

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade creditors

153,231

111,338

Taxation and social security

15,000

3,624

Other creditors

29,171

19,983

197,402

134,945

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.18

30.9.17

£

£

Bank loans

443,992

562,497

Other creditors

245,000

-

688,992

562,497

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

443,992

562,497