OAKLANDS_DECORATING_SERVI - Accounts

OAKLANDS DECORATING SERVICES LIMITED - Company Information

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Company Registration No. 07336459 (England and Wales)

OAKLANDS DECORATING SERVICES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2015

OAKLANDS DECORATING SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

OAKLANDS DECORATING SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

5,596

7,438

Current assets

Stocks

1,600

2,654

Debtors

19,646

17,469

Cash at bank and in hand

110

21,256

20,233

Creditors: amounts falling due within one year

(22,773)

(20,131)

Net current (liabilities)/assets

(1,517)

102

Total assets less current liabilities

4,079

7,540

Creditors: amounts falling due after more than one year

(3,373)

(5,494)

Provisions for liabilities

(915)

706

1,131

Capital and reserves

Called up share capital

100

Profit and loss account

606

1,031

Shareholders' funds

706

1,131

OAKLANDS DECORATING SERVICES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 AUGUST 2015

- 2 -

For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 May 2016

Mr D J Cross

Director

Company Registration No. 07336459

OAKLANDS DECORATING SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment

20% on reducing balance basis

Motor vehicles

25% on reducing balance basis

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

OAKLANDS DECORATING SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2015

- 4 -

Fixed assets

Tangible assets

Cost

At 1 September 2014 & at 31 August 2015

13,457

Depreciation

At 1 September 2014

6,019

Charge for the year

1,842

At 31 August 2015

7,861

Net book value

At 31 August 2015

5,596

At 31 August 2014

7,438

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £2,314 (2014 - £2,314).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £3,373 (2014 - £7,808).

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Other transactions

At the year end the company owes Mr D J Cross £15,653 (2014: £13,302) by way of his director's current account.

The company operates rent free from the director's home address.