Oisean Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06452461 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2013

for

Oisean Limited

T/A

The White Hart Public House

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr S Spillett

Mr O D McManigan

SECRETARY:

Mr S Spillett

REGISTERED OFFICE:

1 Forstal Road

Aylesford

Kent

ME20 7AU

REGISTERED NUMBER:

06452461 (England and Wales)

ACCOUNTANTS:

McLean Reid

Chartered Accountants

1 Forstal Road

Aylesford

Kent

ME20 7AU

FIXED ASSETS

Intangible assets

2

35,000

37,500

Tangible assets

3

2,756

3,828

37,756

41,328

CURRENT ASSETS

Stocks

4,132

4,186

Debtors

3,470

5,209

Cash at bank and in hand

2,322

3,125

9,924

12,520

CREDITORS

Amounts falling due within one year

104,904

96,391

NET CURRENT LIABILITIES

(94,980

)

(83,871

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(57,224

)

(42,543

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(57,324

)

(42,643

)

SHAREHOLDERS' FUNDS

(57,224

)

(42,543

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 August 2014 and were signed on its behalf by:

Mr O D McManigan - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors have concluded that a material uncertainty exists that casts significant doubt upon the company's

ability to continue as a going concern and that, therefore, the company may be unable to realise its assets and

discharge its liabilities in the normal course of business. However, given the continued financial support of the

directors, the directors continue to adopt the going concern basis of accounting.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty 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 etc

-

20% on cost

Stocks

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

slow moving items.

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

50,000

AMORTISATION

At 1 January 2013

12,500

Amortisation for year

2,500

At 31 December 2013

15,000

NET BOOK VALUE

At 31 December 2013

35,000

At 31 December 2012

37,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

11,032

Additions

149

At 31 December 2013

11,181

DEPRECIATION

At 1 January 2013

7,204

Charge for year

1,221

At 31 December 2013

8,425

NET BOOK VALUE

At 31 December 2013

2,756

At 31 December 2012

3,828

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

50

'A' ordinary

£1

50

50

50

'B' ordinary

£1

50

50

100

100