Ox in Flames Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04197335 (England and Wales)

Financial Statements

for the Year Ended 30 April 2019

for

OX IN FLAMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G R C Butler

P G Butler

SECRETARY:

Mrs S A Butler

REGISTERED OFFICE:

1 Brook Court

Blakeney Road

Beckenham

Kent

BR3 1HG

REGISTERED NUMBER:

04197335 (England and Wales)

ACCOUNTANTS:

Maths Partnership

1 Brook Court

Blakeney Road

Beckenham

Kent

BR3 1HG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

23,321

24,588

23,321

24,588

CURRENT ASSETS

Stocks

33,015

54,887

Debtors

6

38,144

37,517

Cash at bank and in hand

77,635

57,131

148,794

149,535

CREDITORS

Amounts falling due within one year

7

121,779

122,897

NET CURRENT ASSETS

27,015

26,638

TOTAL ASSETS LESS CURRENT LIABILITIES

50,336

51,226

PROVISIONS FOR LIABILITIES

4,431

3,832

NET ASSETS

45,905

47,394

CAPITAL AND RESERVES

Called up share capital

1,300

1,300

Retained earnings

44,605

46,094

SHAREHOLDERS' FUNDS

45,905

47,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 6 September 2019 and were signed on its behalf by:

G R C Butler - Director

P G Butler - Director

1.	STATUTORY INFORMATION

Ox in Flames 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

The turnover shown in the profit and loss account represents the value of work carried out in the year.

Goodwill

Goodwill of £60,725, being the amount paid in connection with the acquisition of a business in 2001, has been

amortised fully over 10 years.

A further business was acquired in 2006 for £15,000 and this has been amortised fully over 10 years.

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

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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 Profit and Loss Account,

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 10 (2018 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2018

and 30 April 2019

75,725

AMORTISATION

At 1 May 2018

and 30 April 2019

75,725

NET BOOK VALUE

At 30 April 2019

-

At 30 April 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 May 2018

69,762

10,774

55,408

135,944

Additions

3,542

3,726

245

7,513

Disposals

(10,246

)

-

(20,528

)

(30,774

)

At 30 April 2019

63,058

14,500

35,125

112,683

DEPRECIATION

At 1 May 2018

61,903

5,521

43,932

111,356

Charge for year

1,741

1,722

2,580

6,043

Eliminated on disposal

(8,889

)

-

(19,148

)

(28,037

)

At 30 April 2019

54,755

7,243

27,364

89,362

NET BOOK VALUE

At 30 April 2019

8,303

7,257

7,761

23,321

At 30 April 2018

7,859

5,253

11,476

24,588

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade debtors

26,102

22,571

Other debtors

12,042

14,946

38,144

37,517

All debtors are payable within one year and have therefore not been discounted.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade creditors

39,905

36,668

Taxation and social security

42,257

42,186

Other creditors

39,617

44,043

121,779

122,897

All creditors are payable within one year and have therefore not been discounted.

8.	OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments of £79,853 over the next 3 years.