Red Oak Developments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06773171 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Red Oak Developments Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms A J Chadwick

O G M Thomas

SECRETARY:

O G M Thomas

REGISTERED OFFICE:

46 Pure Offices

Hatherley Lane

Cheltenham

GL51 6SH

REGISTERED NUMBER:

06773171 (England and Wales)

ACCOUNTANTS:

Rothman Accountancy Services Limited

The Old Butchery

High Street

Twyford

Hampshire

SO21 INH

FIXED ASSETS

Tangible assets

4

11,043

1,978

CURRENT ASSETS

Stocks

1,183,359

2,160,096

Debtors

5

60,414

47,148

Cash at bank

448,862

12,821

1,692,635

2,220,065

CREDITORS

Amounts falling due within one year

6

1,866,014

2,359,211

NET CURRENT LIABILITIES

(173,379

)

(139,146

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(162,336

)

(137,168

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(162,338

)

(137,170

)

SHAREHOLDERS' FUNDS

(162,336

)

(137,168

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 applicable to companies subject to the small companies regime.

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 11 September 2019 and were signed on its behalf by:

Ms A J Chadwick - Director

1.	STATUTORY INFORMATION

Red Oak Developments 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.

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:

Computer Equipment 25% reducing balance

Plant and Machinery 25% reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current 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 taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

6,213

Additions

12,834

Disposals

(169

)

At 31 December 2018

18,878

DEPRECIATION

At 1 January 2018

4,235

Charge for year

3,698

Eliminated on disposal

(98

)

At 31 December 2018

7,835

NET BOOK VALUE

At 31 December 2018

11,043

At 31 December 2017

1,978

5.

DEBTORS

31.12.18

31.12.17

£

£

Amounts falling due within one year:

Other debtors

20,414

7,148

Amounts falling due after more than one year:

Other debtors

40,000

40,000

Aggregate amounts

60,414

47,148

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

139,760

538,159

Trade creditors

46,780

198,773

Other creditors

1,679,474

1,622,279

1,866,014

2,359,211

The company has granted a fixed and floating charge over the assets of the company.

7.	FINANCIAL INSTRUMENTS

Debtors and creditors receivable/payable within one year, with no stated interest rate, are recorded at transaction

price.

Loans and borrowings are recognised initially at the present value of cash payable to the bank (principal and

interest payments). Basic loans are subsequently measured at amortised cost. Other loans are measured at fair

value with movements recognised in the profit or loss.