Abbreviated Company Accounts - OFS INITIATIVES LIMITED

OFS INITIATIVES LIMITED - Company Information

05395531 OFS INITIATIVES LIMITED 2014-08-31 false 2013-09-01 2014-08-31 true 05395531 2013-09-01 2014-08-31 05395531 2014-08-31 05395531 2013-08-31 05395531 uk-gaap-cd-bus:Director1 2013-09-01 2014-08-31 05395531 uk-gaap-cd-bus:Director2 2013-09-01 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-09-01 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-09-01 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-08-31 iso4217:GBP shares

Registered Number 05395531

OFS INITIATIVES LIMITED

Abbreviated Accounts

31 August 2014

OFS INITIATIVES LIMITED Registered Number 05395531

Abbreviated Balance Sheet as at 31 August 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	-	496
Tangible assets	3	2,657	2,657
		2,657	3,153
Current assets
Debtors		1,085	798
Cash at bank and in hand		18,096	28,168
		19,181	28,966
Creditors: amounts falling due within one year		(13,232)	(15,064)
Net current assets (liabilities)		5,949	13,902
Total assets less current liabilities		8,606	17,055
Total net assets (liabilities)		8,606	17,055
Capital and reserves
Called up share capital	4	2,000	2,000
Profit and loss account		6,606	15,055
Shareholders' funds		8,606	17,055

For the year ending 31 August 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 16 January 2015

And signed on their behalf by:
O Foss-Smith, Director

OFS INITIATIVES LIMITED Registered Number 05395531

Notes to the Abbreviated Accounts for the period ended 31 August 2014

1Accounting Policies

Basis of measurement and preparation of accounts
1.1 Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2 Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3 Turnover
Turnover represents amounts receivable for services provided during the year net of VAT and trade discounts.

1.4 Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment 15% straight line
Fixtures, fittings & equipment 15% straight line

2Intangible fixed assets

	£
Cost
At 1 September 2013	8,500
Additions	0
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2014	8,500
Amortisation
At 1 September 2013	8,004
Charge for the year	496
On disposals	-
At 31 August 2014	8,500
Net book values
At 31 August 2014	0
At 31 August 2013	496

3Tangible fixed assets

	£
Cost
At 1 September 2013	8,112
Additions	1,328
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2014	9,440
Depreciation
At 1 September 2013	5,455
Charge for the year	1,328
On disposals	-
At 31 August 2014	6,783
Net book values
At 31 August 2014	2,657
At 31 August 2013	2,657

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
1,000 A Ordinary shares of £1 each	1,000	1,000
1,000 B Ordinary shares of £1 each	1,000	1,000