Oakham Fabrications & Engineers (Holdings) Limited Filleted accounts for Companies House (small and micro)

OAKHAM FABRICATIONS & ENGINEERS (HOLDINGS) LIMITED - Company Information

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STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS

All of the members of Oakham Fabrications & Engineers (Holdings) Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 June 2019 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 07128947

OAKHAM FABRICATIONS & ENGINEERS (HOLDINGS) LIMITED

FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 June 2019

OAKHAM FABRICATIONS & ENGINEERS (HOLDINGS) LIMITED

REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF OAKHAM FABRICATIONS & ENGINEERS (HOLDINGS) LIMITED

YEAR ENDED 30 JUNE 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Oakham Fabrications & Engineers (Holdings) Limited for the year ended 30 June 2019, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.

LANGARD LIFFORD HALL LIMITED Accountants and Registered Auditors

Lifford Hall Lifford Lane Kings Norton Birmingham B30 3JN

9 January 2020

OAKHAM FABRICATIONS & ENGINEERS (HOLDINGS) LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION

30 June 2019

	2019		2018
Note	£	£	£	£

Fixed assets

Tangible assets	4	35,904	43,190
Investments	5	622,009	622,009
		------------	------------
		657,913	665,199

Current assets

Debtors	44,086	15,193
Cash at bank and in hand	363,931	362,842
	------------	------------
	408,017	378,035

Creditors: amounts falling due within one year	13,914		6,684
	------------		------------
Net current assets		394,103		371,351
		--------------		--------------
Total assets less current liabilities		1,052,016		1,036,550
		--------------		--------------

Capital and reserves

Called up share capital	4	4
Share premium account	622,007	622,007
Profit and loss account	430,005	414,539
	--------------	--------------
Shareholders funds	1,052,016	1,036,550
	--------------	--------------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

OAKHAM FABRICATIONS & ENGINEERS (HOLDINGS) LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)

30 June 2019

These abridged financial statements were approved by the board of directors and authorised for issue on 9 January 2020 , and are signed on behalf of the board by:

K Baker
Director

Company registration number: 07128947

OAKHAM FABRICATIONS & ENGINEERS (HOLDINGS) LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lifford Hall, Lifford Lane, Kings Norton, Birmingham, B30 3JN.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its financial liabilities.

4. Tangible assets

	£
Cost
At 1 July 2018	102,814
Additions	3,090
	------------
At 30 June 2019	105,904
	------------
Depreciation
At 1 July 2018	59,624
Charge for the year	10,376
	------------
At 30 June 2019	70,000
	------------
Carrying amount
At 30 June 2019	35,904
	------------
At 30 June 2018	43,190
	------------

5. Investments

	£
Cost
At 1 July 2018 and 30 June 2019	622,009
	------------
Impairment
At 1 July 2018 and 30 June 2019	–
	------------
Carrying amount
At 30 June 2019	622,009
	------------
At 30 June 2018	622,009
	------------

6. Director's advances, credits and guarantees

Amounts owed to the director at the balance sheet date are included in creditors and totalled £8,668. (2018: £6,394).