Oxford Glass & Glazing Systems Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06746984 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

OXFORD GLASS & GLAZING SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs H K Rogers

REGISTERED OFFICE:

6 Langdale Court

Witney

Oxfordshire

OX28 6FG

BUSINESS ADDRESS:

Unit 1 Curtis Yard

North Hinksey Lane

Oxford

OX2 0LX

REGISTERED NUMBER:

06746984 (England and Wales)

ACCOUNTANTS:

Bronsens

Chartered Certified Accountants

6 Langdale Court

Witney

Oxfordshire

OX28 6FG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

13,099

17,464

13,099

17,464

CURRENT ASSETS

Stocks

5,403

14,736

Debtors

6

58,886

28,098

Cash at bank

162,018

168,349

226,307

211,183

CREDITORS

Amounts falling due within one year

7

107,548

76,272

NET CURRENT ASSETS

118,759

134,911

TOTAL ASSETS LESS CURRENT LIABILITIES

131,858

152,375

PROVISIONS FOR LIABILITIES

8

2,299

3,086

NET ASSETS

129,559

149,289

CAPITAL AND RESERVES

Called up share capital

9

75

75

Capital redemption reserve

25

25

Retained earnings

129,459

149,189

SHAREHOLDERS' FUNDS

129,559

149,289

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 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 director on 31 March 2020 and were signed by:

Mrs H K Rogers - Director

1.	STATUTORY INFORMATION

Oxford Glass & Glazing Systems 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.

Turnover

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

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten 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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 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 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 (2018 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

240,000

AMORTISATION

At 1 January 2019

and 31 December 2019

240,000

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2019

and 31 December 2019

34,022

226

25,065

6,745

66,058

DEPRECIATION

At 1 January 2019

22,594

213

20,908

4,879

48,594

Charge for year

2,857

3

1,039

466

4,365

At 31 December 2019

25,451

216

21,947

5,345

52,959

NET BOOK VALUE

At 31 December 2019

8,571

10

3,118

1,400

13,099

At 31 December 2018

11,428

13

4,157

1,866

17,464

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

47,065

15,587

Other debtors

7,930

8,085

Prepayments

3,891

4,426

58,886

28,098

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

33,833

20,081

Credit card

9,536

282

Tax

5,777

13,157

Social security and other taxes

2,554

2,922

VAT

12,117

14,390

Other creditors

2,067

1,500

Directors' current accounts

12,768

13,700

Customer deposits

3

7,150

Accruals and deferred income

28,893

3,090

107,548

76,272

8.	PROVISIONS FOR LIABILITIES

31.12.19

31.12.18

£

£

Deferred tax

Accelerated capital allowances

2,299

3,086

Deferred

tax

£

Balance at 1 January 2019

3,086

Utilised during year

(787

)

Balance at 31 December 2019

2,299

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

25

Ordinary B

£1

25

25

25

Ordinary C

£1

25

25

25

Ordinary D

£1

25

25

75

75

10.	OTHER FINANCIAL COMMITMENTS

The company is commited to pay lease rentals on property of £14,000 per annum until 2020.