Ox in Flames Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04197335 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2023

for

OX IN FLAMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G R C Butler

P G Butler

SECRETARY:

Mrs S A Butler

REGISTERED OFFICE:

1 Brook Court

Blakeney Road

Beckenham

Kent

BR3 1HG

REGISTERED NUMBER:

04197335 (England and Wales)

ACCOUNTANTS:

Maths Partnership

1 Brook Court

Blakeney Road

Beckenham

Kent

BR3 1HG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

28,172

31,096

28,172

31,096

CURRENT ASSETS

Stocks

80,676

50,637

Debtors

6

57,393

34,996

Cash at bank and in hand

29,622

97,770

167,691

183,403

CREDITORS

Amounts falling due within one year

7

126,054

125,569

NET CURRENT ASSETS

41,637

57,834

TOTAL ASSETS LESS CURRENT LIABILITIES

69,809

88,930

PROVISIONS FOR LIABILITIES

5,443

5,908

NET ASSETS

64,366

83,022

CAPITAL AND RESERVES

Called up share capital

1,300

1,300

Retained earnings

63,066

81,722

SHAREHOLDERS' FUNDS

64,366

83,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:

G R C Butler - Director

P G Butler - Director

1.	STATUTORY INFORMATION

Ox in Flames 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

The turnover shown in the profit and loss account represents the value of work carried out in the year.

Goodwill

Goodwill of £60,725, being the amount paid in connection with the acquisition of a business in 2001, has been amortised fully over 10 years.

A further business was acquired in 2006 for £15,000 and this has been amortised fully over 10 years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 10 (2022 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2022

and 30 April 2023

75,725

AMORTISATION

At 1 May 2022

and 30 April 2023

75,725

NET BOOK VALUE

At 30 April 2023

-

At 30 April 2022

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 May 2022

69,977

18,690

52,744

141,411

Additions

5,086

-

-

5,086

At 30 April 2023

75,063

18,690

52,744

146,497

DEPRECIATION

At 1 May 2022

60,565

12,463

37,287

110,315

Charge for year

2,900

1,246

3,864

8,010

At 30 April 2023

63,465

13,709

41,151

118,325

NET BOOK VALUE

At 30 April 2023

11,598

4,981

11,593

28,172

At 30 April 2022

9,412

6,227

15,457

31,096

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2022

23,309

Transfer to ownership

(23,309

)

At 30 April 2023

-

DEPRECIATION

At 1 May 2022

11,828

Transfer to ownership

(11,828

)

At 30 April 2023

-

NET BOOK VALUE

At 30 April 2023

-

At 30 April 2022

11,481

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Trade debtors

47,384

23,341

Other debtors

10,009

11,655

57,393

34,996

All debtors are payable within one year and have therefore not been discounted.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Hire purchase contracts

-

2,222

Trade creditors

42,067

36,916

Taxation and social security

46,342

51,356

Other creditors

37,645

35,075

126,054

125,569

All creditors are payable within one year and have therefore not been discounted.

8.	OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments of £271,498 (£303,440 - 2022) over the next 10 years.