Oakwood Composites Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09167293 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2019

FOR

OAKWOOD COMPOSITES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

E Sedgwick

R Garner

REGISTERED OFFICE:

21 Hollowgate

Rotherham

South Yorkshire

S60 2LE

REGISTERED NUMBER:

09167293 (England and Wales)

ACCOUNTANTS:

Drury & Co

Accountants & Business Advisors

21 Hollowgate

Rotherham

South Yorkshire

S60 2LE

FIXED ASSETS

Tangible assets

4

468

551

CURRENT ASSETS

Stocks

5

2,000

2,000

Debtors

6

22,536

20,076

Cash at bank

9,305

15,295

33,841

37,371

CREDITORS

Amounts falling due within one year

7

33,883

36,490

NET CURRENT (LIABILITIES)/ASSETS

(42

)

881

TOTAL ASSETS LESS CURRENT LIABILITIES

426

1,432

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

326

1,332

SHAREHOLDERS' FUNDS

426

1,432

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 and authorised for issue on 29 August 2020 and were signed on its behalf by:

R Garner - Director

1.	STATUTORY INFORMATION

Oakwood Composites 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.

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

-

15% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 September 2018

and 31 August 2019

1,055

DEPRECIATION

At 1 September 2018

504

Charge for year

83

At 31 August 2019

587

NET BOOK VALUE

At 31 August 2019

468

At 31 August 2018

551

5.

STOCKS

2019

2018

£

£

Stocks

2,000

2,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

22,536

17,814

Other debtors

-

2,262

22,536

20,076

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

12,943

26,650

Taxation and social security

5,612

3,108

Other creditors

15,328

6,732

33,883

36,490

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary shares

£1

100

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the reporting date, the company was indebted to a director in the sum of £14,426 (2018:

£5,712).

There are no formal repayment terms attached to this loan and interest is not being charged.