| Oxfordshire Arts Trading Limited |
| Registered number: |
08973346 |
| Balance Sheet |
| as at 31 August 2020 |
|
| Notes |
|
|
2020 |
|
|
2019 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
33,653 |
|
|
11,628 |
|
| Current assets |
| Stocks |
|
|
2,492 |
|
|
2,588 |
| Debtors |
4 |
|
2,104 |
|
|
3,745 |
| Cash at bank and in hand |
|
|
7,169 |
|
|
50 |
|
|
|
11,765 |
|
|
6,383 |
|
| Creditors: amounts falling due within one year |
5 |
|
(23,825) |
|
|
(9,613) |
|
| Net current liabilities |
|
|
|
(12,060) |
|
|
(3,230) |
|
| Total assets less current liabilities |
|
|
|
21,593 |
|
|
8,398 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(14,400) |
|
|
- |
|
| Provisions for liabilities |
|
|
|
(1,961) |
|
|
(2,209) |
|
|
| Net assets |
|
|
|
5,232 |
|
|
6,189 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
4 |
|
|
4 |
| Profit and loss account |
|
|
|
5,228 |
|
|
6,185 |
|
| Shareholders' funds |
|
|
|
5,232 |
|
|
6,189 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mark Turner |
| Director |
| Approved by the board on 23 April 2021 |
|
| Oxfordshire Arts Trading Limited |
| Notes to the Accounts |
| for the year ended 31 August 2020 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows: |
|
|
Buildings |
over 50 years |
|
Plant and machinery |
25% per annum |
|
Fixtures, fittings, tools and equipment |
25% per annum |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. |
|
|
| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Property, plant and equipment |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 September 2019 |
6,183 |
|
13,839 |
|
20,022 |
|
Additions |
20,283 |
|
6,589 |
|
26,872 |
|
At 31 August 2020 |
26,466 |
|
20,428 |
|
46,894 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2019 |
2,215 |
|
6,179 |
|
8,394 |
|
Charge for the year |
920 |
|
3,927 |
|
4,847 |
|
At 31 August 2020 |
3,135 |
|
10,106 |
|
13,241 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2020 |
23,331 |
|
10,322 |
|
33,653 |
|
At 31 August 2019 |
3,968 |
|
7,660 |
|
11,628 |
|
|
| 4 |
Debtors |
2020 |
|
2019 |
| £ |
£ |
|
|
Trade debtors |
292 |
|
2,948 |
|
Other debtors |
1,812 |
|
797 |
|
|
|
|
|
|
2,104 |
|
3,745 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Bank loans and overdrafts |
- |
|
4,362 |
|
Trade creditors |
5,801 |
|
666 |
|
Taxation and social security costs |
1,281 |
|
2,846 |
|
Directors' current accounts |
15,857 |
|
857 |
|
Other creditors and accruals |
886 |
|
882 |
|
|
|
|
|
|
23,825 |
|
9,613 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Bank loans |
14,400 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
Oxfordshire Arts Trading Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
|
The Cobb |
|
Muster Point, Featherbed Lane |
|
East Hendred |
|
Wantage |
|
OX12 8JF |
