G.C. Ogle & Sons Limited - Period Ending 2018-11-30

Registration number: 00167442

G.C. Ogle & Sons Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2018

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

G.C. Ogle & Sons Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 8

G.C. Ogle & Sons Limited

Company Information

Director	Mr T D C Ogle

Company secretary

Mr T D C Ogle

Registered office

G C Ogle & Sons Limited Victoria Road Ripley Derbyshire DE5 3FX

Accountants

Coates and Partners Limited Chartered Accountants The Old Vicarage 51 St John Street Ashbourne Derbyshire DE6 1GP

Page 1

G.C. Ogle & Sons Limited

(Registration number: 00167442)
Balance Sheet as at 30 November 2018

	Note	2018 £	2017 £
Fixed assets
Investments	5	101	101
Current assets
Stocks	6	60,430	49,375
Debtors	7	20,940	25,876
Cash at bank and in hand		5,537	626
		86,907	75,877
Creditors: Amounts falling due within one year	8	(63,124)	(52,395)
Net current assets		23,783	23,482
Total assets less current liabilities		23,884	23,583
Creditors: Amounts falling due after more than one year	8	(65,000)	(65,000)
Net liabilities		(41,116)	(41,417)
Capital and reserves
Allotted, called up and fully paid share capital		9,820	9,820
Profit and loss account		(50,936)	(51,237)
		(41,116)	(41,417)
Total equity		(41,116)	(41,417)

For the financial year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 2

G.C. Ogle & Sons Limited

(Registration number: 00167442)
Balance Sheet as at 30 November 2018

Approved and authorised by the director on 23 August 2019
 

......................................... Mr T D C Ogle Company secretary and director

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 3

G.C. Ogle & Sons Limited

Notes to the Financial Statements for the Year Ended 30 November 2018

1	General information

The company is a private company limited by share capital incorporated in England registration number: 00167442.

The address of its registered office and principle place of business is:
G C Ogle & Sons Limited
Victoria Road
Ripley
Derbyshire
DE5 3FX

These financial statements were authorised for issue by the director on 23 August 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Page 4

G.C. Ogle & Sons Limited

Notes to the Financial Statements for the Year Ended 30 November 2018

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% straight line basis
Furniture, fixture and equipment	33% straight line basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2017 - 2).

Page 5

G.C. Ogle & Sons Limited

Notes to the Financial Statements for the Year Ended 30 November 2018

4	Tangible assets

	Furniture, fittings and equipment  £	Plant and machinery £	Total £
Cost or valuation
At 1 December 2017	653	12,121	12,774
At 30 November 2018	653	12,121	12,774
Depreciation
At 1 December 2017	653	12,121	12,774
At 30 November 2018	653	12,121	12,774
Carrying amount
At 30 November 2018	-	-	-

5	Investments

	2018 £	2017 £
Investments in subsidiaries	101	101

Subsidiaries	£
Cost or valuation
At 1 December 2017	101
Provision
Carrying amount
At 30 November 2018	101
At 30 November 2017	101

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Page 6

G.C. Ogle & Sons Limited

Notes to the Financial Statements for the Year Ended 30 November 2018

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2018	2017

Subsidiary undertakings
Hydraulics UK Limited	The Old Vicarage 51 St.John Street Ashbourne Derbyshire DE6 1GP	Ordinary	100%	100%
	England
Scorpion Seals Limited	Victoria Road Ripley Derbyshire	Ordinary	100%	100%
	England

The principal activity of Hydraulics UK Limited is Dormant

The principal activity of Scorpion Seals Limited is Dormant

6

Stocks

	2018 £	2017 £
Stock	60,430	49,375

7

Debtors

	2018 £	2017 £
Trade debtors	20,909	25,876
Other debtors	31	-
	20,940	25,876

Page 7

G.C. Ogle & Sons Limited

Notes to the Financial Statements for the Year Ended 30 November 2018

8

Creditors

Creditors: amounts falling due within one year

	Note	2018 £	2017 £
Due within one year
Loans and borrowings		22,270	11,731
Trade creditors		17,299	13,073
Taxation and social security		-	1,164
Accruals and deferred income		2,250	2,200
Other creditors		21,305	24,227
		63,124	52,395

Creditors: amounts falling due after more than one year

	2018 £	2017 £
Due after one year
Other creditors	65,000	65,000
	65,000	65,000

9	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £20,000 (2017 - £20,000). The bank overdraft is secured by a personal guarantee given by the director.

Page 8