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OBBARD LIMITED - Company Information

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Obbard Limited

Registered Number:02917554

For the year ended 30 April 2020

England and Wales

Unaudited Financial Statements

For the year ended 30 April 2020

Obbard Limited

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Registered Number :

02917554

As at 30 April 2020

Obbard Limited

Statement of Financial Position

2019

2020

Notes

Fixed assets

Property, plant and equipment

10,156

11,726

10,156

11,726

Current assets

Inventories

514,933

Trade and other receivables

309,365

371,042

230

Cash and cash equivalents

885,975

309,595

Trade and other payables: amounts falling due within one

year

(305,165)

(872,554)

4,430

13,421

Net current assets

Total assets less current liabilities

23,577

16,156

23,577

Net assets

16,156

Capital and reserves

Called up share capital

1,900

Share premium account

13,221

Retained earnings

8,456

1,035

23,577

16,156

Shareholders' funds

For the year ended 30 April 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006

The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Hugh Obbard Director

These financial statements were approved and authorised for issue by the Board on 15 September 2020 and were signed by:

The notes form part of these financial statements

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For the year ended 30 April 2020

Obbard Limited

Notes to the Financial Statements

Statutory Information

Obbard Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number

02917554.

Registered address:

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

The presentation currency is £ sterling.

Obbard 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 (£).

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value-added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of the contract is measured by the proportion of physical work completed compared to the total work to be done.

Property, plant and equipment

Property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated residual value of all property, plant and equipment over their expected useful lives, using the reducing balance method. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

Land and Buildings

10 Straight line

Plant and Machinery

25 Reducing balance

35 Reducing balance

Computer Equipment

25 Reducing balance

Furniture and Fittings

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For the year ended 30 April 2020

Obbard Limited

Notes to the Financial Statements Continued

Deferred tax

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if: the group has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged to profit or loss on a straight-line basis over the lease term, unless the rental payments are structured to increase inline with expected general inflation, in which case the group recognises annual rent expense equal to amounts owed to the lessor. The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight-line basis.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for the benefit of its directors and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.

Going Concern

After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the group has

adequate resources to continue in operational existence for the foreseeable future. The directors, therefore, continue

to adopt the going concern basis in preparing its consolidated financial statements.

2. Inventories

2019

2020

Stocks

514,933

Stocks represent the Work in Progress (WIP) carrying amount of construction contracts being completed by the company.

3. Trade and other receivables

2019

2020

Trade debtors

155,878

93,211

Amounts owed by group undertakings and participating interests

12,659

Other debtors

202,505

203,495

309,365

371,042

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For the year ended 30 April 2020

Obbard Limited

Notes to the Financial Statements Continued

4. Trade and other payables: amounts falling due within one year

2019

2020

Bank loans and overdraft

216

12,437

Trade creditors

91,088

88,210

Taxation and social security

169,695

161,864

Other creditors

611,555

42,654

872,554

305,165

5. Related party transactions

The amount owed by related party are funds advanced to a company in which all the directors have a material

interest. The amount is interest free and repayable on demand.

6. Directors advances and guarantees

Loaned

Repaid

Interest

At 01/05/2019

At 30/04/2020

Hugh Obbard

Loan is repayable on demand

(11,749)

33,519

122,999

78,000

269

(11,749)

33,519

122,999

78,000

269

Patricia Patrick

Loan is repayable on demand

11,337

11,620

78,000

283

11,337

11,620

78,000

283

7. Average number of persons employed

During the year the average number of employees was 10 (2019 : 13)

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