Owlsworth Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06566869 (England and Wales)

Financial Statements

for the Year Ended 31st December 2018

for

Owlsworth Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R H Blackwell

R M Dukes

SECRETARY:

R Casbolt

REGISTERED OFFICE:

Unit 2

Paddock Road Industrial Estate

Caversham

Reading

Berkshire

RG4 5BY

REGISTERED NUMBER:

06566869 (England and Wales)

ACCOUNTANTS:

Buffery & Co Ltd

2 West Street

Henley On Thames

Oxfordshire

RG9 2DU

FIXED ASSETS

Intangible assets

4

85,000

85,000

Tangible assets

5

667,264

63,498

Investments

6

100,004

25,108

852,268

173,606

CURRENT ASSETS

Stocks

-

34,200

Debtors

248,566

430,177

Cash at bank

93,069

707

341,635

465,084

CREDITORS

Amounts falling due within one year

281,437

366,977

NET CURRENT ASSETS

60,198

98,107

TOTAL ASSETS LESS CURRENT LIABILITIES

912,466

271,713

CREDITORS

Amounts falling due after more than one year

809,131

198,091

NET ASSETS

103,335

73,622

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Revaluation reserve

7

14,693

-

Retained earnings

63,642

48,622

SHAREHOLDERS' FUNDS

103,335

73,622

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

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 21st June 2019 and were signed on its behalf by:

R H Blackwell - Director

1.	STATUTORY INFORMATION

Owlsworth 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill is the amount paid in connection with the acquisition of a business in 2008.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

33.33% 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2018

and 31st December 2018

85,000

NET BOOK VALUE

At 31st December 2018

85,000

At 31st December 2017

85,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1st January 2018

187,981

Additions

623,177

Revaluations

14,693

At 31st December 2018

825,851

DEPRECIATION

At 1st January 2018

124,483

Charge for year

34,104

At 31st December 2018

158,587

NET BOOK VALUE

At 31st December 2018

667,264

At 31st December 2017

63,498

Cost or valuation at 31st December 2018 is represented by:

Totals

£

Valuation in 2018

14,693

Cost

811,158

825,851

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1st January 2018

25,108

Additions

74,896

At 31st December 2018

100,004

NET BOOK VALUE

At 31st December 2018

100,004

At 31st December 2017

25,108

7.

RESERVES

Revaluation

reserve

£

Revaluation

14,693

At 31st December 2018

14,693