Office Aid UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC335291 (Scotland)

Office Aid UK Limited

Financial Statements For The Year Ended 29 February 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

A J Elder

REGISTERED OFFICE:

Edgar Road

Elgin

Moray

IV30 6YQ

REGISTERED NUMBER:

SC335291 (Scotland)

ACCOUNTANTS:

The Long Partnership

Park House Centre

South Street

Elgin

IV30 1JB

CURRENT ASSETS

Stocks

17,029

17,963

Debtors

4

69,320

65,902

Cash at bank and in hand

35,377

64,584

121,726

148,449

CREDITORS

Amounts falling due within one year

5

38,110

68,230

NET CURRENT ASSETS

83,616

80,219

TOTAL ASSETS LESS CURRENT LIABILITIES

83,616

80,219

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

83,516

80,119

SHAREHOLDERS' FUNDS

83,616

80,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 25 November 2020 and were signed by:

A J Elder - Director

1.	STATUTORY INFORMATION

Office Aid UK Limited is a private company, limited by shares , registered in Scotland. 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.

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 (2019 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.2.20

28.2.19

£

£

Trade debtors

57,920

65,880

Other debtors

11,400

22

69,320

65,902

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.2.20

28.2.19

£

£

Trade creditors

19,894

29,374

Taxation and social security

7,782

17,046

Other creditors

10,434

21,810

38,110

68,230

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.2.20

28.2.19

value:

£

£

100

Ordinary

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 March 2019

80,119

Profit for the year

3,397

At 29 February 2020

83,516

8.	RELATED PARTY DISCLOSURES

Moray Office Supplies Limited

A Company which Mr A Elder is a director and a shareholder

During the period the company paid rent of £24,000 and management charges of £20,460 to Moray Office

Supplies Limited.

29.2.20

28.2.19

£

£

Amount due to related party at the balance sheet date

10,731

25,981

A J Elder

is a director in the company

The company gave the director an interest free loan during the year. No repayment terms have been agreed.

29.2.20

28.2.19

£

£

Amount due from related party at the balance sheet date

11,400

-

9.	ULTIMATE CONTROLLING PARTY

The controlling party is A J Elder.

The ultimate controlling party is A J Elder.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Office Aid UK Limited for the year ended 29 February 2020 which comprise the Income

Statement, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Office Aid UK Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Office Aid UK Limited and state those matters that we have agreed to state to the director of Office Aid UK Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Office Aid UK Limited and its director for our work or for this report.

It is your duty to ensure that Office Aid UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Office Aid UK Limited. You consider that Office Aid UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Office Aid UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Long Partnership

Park House Centre

South Street

Elgin

IV30 1JB

25 November 2020