Oven Wizards (Kent) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07343062 (England and Wales)

OVEN WIZARDS (KENT) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J E Booker

REGISTERED OFFICE:

King Arthurs Court

Maidstone Road

Charing

Ashford

Kent

TN27 0JS

REGISTERED NUMBER:

07343062 (England and Wales)

ACCOUNTANTS:

Spurling Cannon

King Arthur’s Court

Maidstone Road

Charing

Kent

TN27 0JS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

11,554

21,240

11,554

21,240

CURRENT ASSETS

Debtors

6

8,636

9,758

Cash at bank

17,380

1,871

26,016

11,629

CREDITORS

Amounts falling due within one year

7

(35,429

)

(18,624

)

NET CURRENT LIABILITIES

(9,413

)

(6,995

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,141

14,245

CREDITORS

Amounts falling due after more than one year

8

(3,740

)

(15,442

)

NET LIABILITIES

(1,599

)

(1,197

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(1,699

)

(1,297

)

SHAREHOLDERS' FUNDS

(1,599

)

(1,197

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 26 May 2021 and were signed by:

Mr J E Booker - Director

1.	STATUTORY INFORMATION

Oven Wizards (Kent) 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fee are being amortised evenly over their estimated useful life of nil years.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Franchise

fee

£

COST

At 1 September 2019

and 31 August 2020

1,704

AMORTISATION

At 1 September 2019

and 31 August 2020

1,704

NET BOOK VALUE

At 31 August 2020

-

At 31 August 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2019

958

42,745

880

44,583

Disposals

-

(10,374

)

-

(10,374

)

At 31 August 2020

958

32,371

880

34,209

DEPRECIATION

At 1 September 2019

895

21,568

880

23,343

Charge for year

15

3,835

-

3,850

Eliminated on disposal

-

(4,538

)

-

(4,538

)

At 31 August 2020

910

20,865

880

22,655

NET BOOK VALUE

At 31 August 2020

48

11,506

-

11,554

At 31 August 2019

63

21,177

-

21,240

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Directors' current accounts

8,061

9,758

Tax

575

-

8,636

9,758

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

5,477

739

Other loans

18,000

-

Hire purchase contracts

7,618

7,528

Corporation Tax

1,304

-

Social security and other taxes

1,076

4,884

VAT

-

3,241

Sundry creditors

638

916

Accrued expenses

1,316

1,316

35,429

18,624

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

3,740

15,442

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr J E Booker.