Oakham Home Improvements Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02489367 (England and Wales)

OAKHAM HOME IMPROVEMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

M L Elkins

Mrs P A Elkins

S M W Elkins

SECRETARY:

M L Elkins

REGISTERED OFFICE:

11 St Albans Close

Oakham

Rutland

LE15 6EW

REGISTERED NUMBER:

02489367 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

FIXED ASSETS

Property, plant and equipment

4

21,834

19,676

CURRENT ASSETS

Inventories

16,887

8,971

Debtors

5

70,493

132,259

Cash at bank and in hand

172,918

140,624

260,298

281,854

CREDITORS

Amounts falling due within one year

6

95,486

98,242

NET CURRENT ASSETS

164,812

183,612

TOTAL ASSETS LESS CURRENT LIABILITIES

186,646

203,288

PROVISIONS FOR LIABILITIES

3,352

2,954

NET ASSETS

183,294

200,334

CAPITAL AND RESERVES

Called up share capital

7

150

150

Share premium

7,950

7,950

Retained earnings

175,194

192,234

SHAREHOLDERS' FUNDS

183,294

200,334

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 8 October 2019 and were signed on its behalf by:

M L Elkins - Director

Mrs P A Elkins - Director

S M W Elkins - Director

1.	STATUTORY INFORMATION

Oakham Home Improvements 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.	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.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33.33% on cost, 25% on reducing balance and 20% on reducing balance

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

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 8 (2018 - 8 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2018

49,227

Additions

9,400

At 31 March 2019

58,627

DEPRECIATION

At 1 April 2018

29,551

Charge for year

7,242

At 31 March 2019

36,793

NET BOOK VALUE

At 31 March 2019

21,834

At 31 March 2018

19,676

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

69,568

131,549

Prepayments

925

710

70,493

132,259

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

38,159

31,212

Taxation

14,381

27,293

Other taxes and social security

13,685

25,535

Other creditors

2,451

1,843

Directors' current accounts

24,430

9,999

Accrued expenses

2,380

2,360

95,486

98,242

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary A

£1

100

100

50

Ordinary B

£1

50

50

150

150

8.	RELATED PARTY DISCLOSURES

Rents of £7,200 (2018 - £7,200) were paid to two of the directors during the year.

From time to time the directors provide financing loans to the company as disclosed in creditors (Directors'

current accounts). These loans are interest free and repayable on demand. The balance outstanding at the

year end was £24,430 owed by the company (2018: £9,999).