Graham Ottaway Builders Limited - Accounts to registrar (filleted) - small 18.2

Graham Ottaway Builders Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 04337318 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Graham Ottaway Builders Limited

Graham Ottaway Builders Limited (Registered number: 04337318)

Contents of the Financial Statements
for the Year Ended 31 December 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Graham Ottaway Builders Limited

Company Information
for the Year Ended 31 December 2018







DIRECTOR: G J Ottaway



REGISTERED OFFICE: Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY



REGISTERED NUMBER: 04337318 (England and Wales)



ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY



BANKERS: HSBC Bank Plc
The Cross
1 Broad Street
Newtown
Powys
SY16 2LX

Graham Ottaway Builders Limited (Registered number: 04337318)

Balance Sheet
31 December 2018

31.12.18 31.12.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 178,751 159,076

CURRENT ASSETS
Stocks 49,243 7,271
Debtors 6 61,036 83,112
Cash at bank 138,532 188,910
248,811 279,293
CREDITORS
Amounts falling due within one year 7 150,649 166,708
NET CURRENT ASSETS 98,162 112,585
TOTAL ASSETS LESS CURRENT
LIABILITIES

276,913

271,661

CREDITORS
Amounts falling due after more than one
year

8

(39,567

)

(26,262

)

PROVISIONS FOR LIABILITIES (33,963 ) (30,224 )
NET ASSETS 203,383 215,175

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 203,283 215,075
SHAREHOLDERS' FUNDS 203,383 215,175

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 director acknowledges his 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.

Graham Ottaway Builders Limited (Registered number: 04337318)

Balance Sheet - continued
31 December 2018


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 24 September 2019 and were signed by:





G J Ottaway - Director


Graham Ottaway Builders Limited (Registered number: 04337318)

Notes to the Financial Statements
for the Year Ended 31 December 2018


1. STATUTORY INFORMATION

Graham Ottaway Builders 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents work done, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost and 10% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 and deferred tax. Tax is recognised in the Statement of
Income and Retained Earnings, 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.

Graham Ottaway Builders Limited (Registered number: 04337318)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those
held under finance leases are depreciated over their estimated useful lives or the lease term,
whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The
capital element of the future payments is treated as a liability.

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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2018 303,835
Additions 72,500
Disposals (25,600 )
At 31 December 2018 350,735
DEPRECIATION
At 1 January 2018 144,759
Charge for year 44,025
Eliminated on disposal (16,800 )
At 31 December 2018 171,984
NET BOOK VALUE
At 31 December 2018 178,751
At 31 December 2017 159,076

Graham Ottaway Builders Limited (Registered number: 04337318)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2018 122,185
Additions 24,000
Disposals (22,000 )
Transfer to ownership (21,500 )
At 31 December 2018 102,685
DEPRECIATION
At 1 January 2018 51,387
Charge for year 15,287
Eliminated on disposal (13,200 )
Transfer to ownership (17,200 )
At 31 December 2018 36,274
NET BOOK VALUE
At 31 December 2018 66,411
At 31 December 2017 70,798

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.18 31.12.17
£    £   
Trade debtors 6,951 50,821
Other debtors 54,085 32,291
61,036 83,112

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.18 31.12.17
£    £   
Hire purchase contracts 22,340 14,037
Trade creditors 70,882 71,086
Taxation and social security 5,553 3,929
Other creditors 51,874 77,656
150,649 166,708

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.18 31.12.17
£    £   
Hire purchase contracts 39,567 26,262