OK Fleet Disposals Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08792861 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

OK FLEET DISPOSALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L Masters

REGISTERED OFFICE:

Copia House

Great Cliffe Court

Great Cliffe Road

Barnsley

South Yorkshire

S75 3SP

REGISTERED NUMBER:

08792861 (England and Wales)

ACCOUNTANTS:

Reed Smith Associates Limited

Copia House

Great Cliffe Court

Great Cliffe Road

Barnsley

South Yorkshire

S75 3SP

BANKERS:

Santander UK plc

Bridle Road

Bootle

Merseyside

GIR 0AA

FIXED ASSETS

Property, plant and equipment

4

1,836

1,769

CURRENT ASSETS

Inventories

283,085

125,939

Debtors

5

213,706

109,391

Cash at bank and in hand

25,200

15,574

521,991

250,904

CREDITORS

Amounts falling due within one year

6

462,257

194,057

NET CURRENT ASSETS

59,734

56,847

TOTAL ASSETS LESS CURRENT LIABILITIES

61,570

58,616

PROVISIONS FOR LIABILITIES

348

336

NET ASSETS

61,222

58,280

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

61,219

58,277

SHAREHOLDERS' FUNDS

61,222

58,280

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 30 September 2019 and were signed by:

L Masters - Director

1.	STATUTORY INFORMATION

OK Fleet Disposals 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

Revenue 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

-

20% on cost

Fixtures and fittings

-

20% on cost

Stocks

Inventories 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.

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 - 3 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 December 2017

400

8,441

8,841

Additions

358

1,789

2,147

At 30 November 2018

758

10,230

10,988

DEPRECIATION

At 1 December 2017

320

6,752

7,072

Charge for year

151

1,929

2,080

At 30 November 2018

471

8,681

9,152

NET BOOK VALUE

At 30 November 2018

287

1,549

1,836

At 30 November 2017

80

1,689

1,769

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade debtors

142,284

37,950

Prepayments and other debtors

71,422

71,441

213,706

109,391

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade creditors

352,685

115,582

Taxation and social security

58,569

43,491

Other creditors

51,003

34,984

462,257

194,057

7.	ULTIMATE CONTROLLING PARTY