OEM Appliances Ltd - Limited company - abbreviated

REGISTERED NUMBER: 08126863 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2015

for

OEM Appliances Ltd

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

525,000

600,000

Tangible assets

3

51,835

52,839

Investments

4

102,500

-

679,335

652,839

CURRENT ASSETS

Stocks

352,049

232,515

Debtors

1,693,374

679,304

Cash at bank and in hand

493,270

678,557

2,538,693

1,590,376

CREDITORS

Amounts falling due within one year

2,361,364

1,865,389

NET CURRENT ASSETS/(LIABILITIES)

177,329

(275,013

)

TOTAL ASSETS LESS CURRENT LIABILITIES

856,664

377,826

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

856,564

377,726

SHAREHOLDERS' FUNDS

856,664

377,826

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 23 December 2015 and were signed on its behalf
by:

B Johnson - Director

1.	ACCOUNTING POLICIES

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 and marketing services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

Deferred tax

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

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

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.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

and 30 September 2015

750,000

AMORTISATION

At 1 October 2014

150,000

Amortisation for year

75,000

At 30 September 2015

225,000

NET BOOK VALUE

At 30 September 2015

525,000

At 30 September 2014

600,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

74,572

Additions

25,850

Disposals

(16,482

)

At 30 September 2015

83,940

DEPRECIATION

At 1 October 2014

21,733

Charge for year

17,583

Eliminated on disposal

(7,211

)

At 30 September 2015

32,105

NET BOOK VALUE

At 30 September 2015

51,835

At 30 September 2014

52,839

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

102,500

At 30 September 2015

102,500

NET BOOK VALUE

At 30 September 2015

102,500

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.15

30.9.14

value:

£

65

"A" Ordinary

£1

65

5

"B" Ordinary

£1

5

25

"C" Ordinary

£1

25

5

"D" Ordinary

£1

5

100

OEM Appliances Ltd - Limited company - abbreviated - 11.6

OEM Appliances Ltd - Limited company - abbreviated - 11.6