Abbreviated Company Accounts - OSWIN FROST & CO. LIMITED

OSWIN FROST & CO. LIMITED - Company Information

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Registered Number 01183442

OSWIN FROST & CO. LIMITED

Abbreviated Accounts

31 December 2014

OSWIN FROST & CO. LIMITED Registered Number 01183442

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	250,074	138,854
		250,074	138,854
Current assets
Stocks		75,000	57,000
Debtors		163,000	173,732
		238,000	230,732
Creditors: amounts falling due within one year		(334,410)	(317,969)
Net current assets (liabilities)		(96,410)	(87,237)
Total assets less current liabilities		153,664	51,617
Provisions for liabilities		(25,009)	(389)
Total net assets (liabilities)		128,655	51,228
Capital and reserves
Called up share capital	3	104	104
Revaluation reserve		121,434	-
Profit and loss account		7,117	51,124
Shareholders' funds		128,655	51,228

For the year ending 31 December 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 29 July 2015

And signed on their behalf by:
Johanne King, Director
Russel Frost, Director

OSWIN FROST & CO. LIMITED Registered Number 01183442

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

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value added tax.
Turnover is recognised when the goods are delivered to the customer.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate
Freehold property 2% on cost
Fixtures, fittings and equipment 10% on reducing balance
Motor vehicles 25% on reducing balance

2Tangible fixed assets

	£
Cost
At 1 January 2014	313,074
Additions	69,285
Disposals	(27,323)
Revaluations	-
Transfers	-
At 31 December 2014	355,036
Depreciation
At 1 January 2014	174,220
Charge for the year	5,351
On disposals	(74,609)
At 31 December 2014	104,962
Net book values
At 31 December 2014	250,074
At 31 December 2013	138,854

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100
1 A Ordinary share of £1 each	1	1
1 B Ordinary share of £1 each	1	1
2 C Ordinary shares of £1 each	2	2

4Transactions with directors

Name of director receiving advance or credit:	Johanne King
Description of the transaction:	interest free loan account
Balance at 1 January 2014:	£ 1,584
Advances or credits made:	£ 11,412
Advances or credits repaid:	-
Balance at 31 December 2014:	£ 12,996

Name of director receiving advance or credit:	Russel Frost
Description of the transaction:	interest free loan account
Balance at 1 January 2014:	£ 19,191
Advances or credits made:	-
Advances or credits repaid:	£ 3,188
Balance at 31 December 2014:	£ 16,003