Oxden Floors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01903952 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

OXDEN FLOORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L J Fox

S R Hobbs

SECRETARY:

L J Fox

REGISTERED OFFICE:

Unit J

Knights Park Industrial Estate

Knight Road

Rochester

Kent

ME2 2LS

REGISTERED NUMBER:

01903952 (England and Wales)

ACCOUNTANTS:

Wilshers

Suite d, 7 Sylvan Court

Sylvan Way

Southfields Business Park

Basildon

Essex

SS15 6TH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

37,463

51,336

37,463

51,336

CURRENT ASSETS

Stocks

22,314

19,137

Debtors

6

363,058

401,444

Cash at bank and in hand

450,861

387,106

836,233

807,687

CREDITORS

Amounts falling due within one year

7

221,298

253,067

NET CURRENT ASSETS

614,935

554,620

TOTAL ASSETS LESS CURRENT LIABILITIES

652,398

605,956

PROVISIONS FOR LIABILITIES

5,370

7,432

NET ASSETS

647,028

598,524

CAPITAL AND RESERVES

Called up share capital

1,160

1,160

Retained earnings

645,868

597,364

SHAREHOLDERS' FUNDS

647,028

598,524

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 by the Board of Directors on 15 November 2019 and were signed on its behalf by:

L J Fox - Director

1.	STATUTORY INFORMATION

Oxden Floors 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

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

value added tax and other sales taxes.

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.

Leasehold improvements

-

20% on cost

Office furniture and equipment

-

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 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.

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 workplace 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 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

22,500

AMORTISATION

At 1 April 2018

and 31 March 2019

22,500

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Office

furniture

Leasehold

and

Motor

improvements

equipment

vehicles

Totals

£

£

£

£

COST

At 1 April 2018

11,186

37,333

89,090

137,609

Additions

-

3,832

-

3,832

Disposals

-

(2,007

)

(12,475

)

(14,482

)

At 31 March 2019

11,186

39,158

76,615

126,959

DEPRECIATION

At 1 April 2018

8,762

24,081

53,430

86,273

Charge for year

2,237

3,013

8,052

13,302

Eliminated on disposal

-

(1,059

)

(9,020

)

(10,079

)

At 31 March 2019

10,999

26,035

52,462

89,496

NET BOOK VALUE

At 31 March 2019

187

13,123

24,153

37,463

At 31 March 2018

2,424

13,252

35,660

51,336

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

354,545

391,961

Prepayments

8,513

9,483

363,058

401,444

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

134,422

179,683

Tax

31,414

31,559

Social security and other taxes

13,815

15,813

Directors' current accounts

9,934

3,407

Accrued expenses

31,713

22,605

221,298

253,067

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

In the year to 31 March 2019 the company leased a property owned by L J Fox at a commercial rent of £24,000

per annum.

During the year L J Fox received a dividend of £39,900 in respect of his holding of 700 ''A'' Ordinary shares in

the company. S R Hobbs received a dividend of £10,000 in respect of his holding of 100 ''B'' Ordinary shares in

the company.

9.	RELATED PARTY DISCLOSURES

During the year a dividend was also received by Mrs E Fox, the wife of L J Fox, of £17,100 in respect of her

holding of 300 ''A'' Ordinary shares and £6,000 in respect of her holding of 60 ''B'' Ordinary shares in the

company.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is L J Fox by virtue of his ownership of 70% of the issued ''A'' share capital of the

company.