Oak Floor It Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06650986 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2016

for

Oak Floor It Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

N J Bevan

SECRETARY:

N J Bevan

REGISTERED OFFICE:

2 Wyevale Business Park

Kings Acre

Hereford

Herefordshire

HR4 7BS

REGISTERED NUMBER:

06650986 (England and Wales)

ACCOUNTANTS:

Thorne Widgery Accountancy Ltd

Chartered Accountants

2 Wyevale Business Park

Kings Acre

Hereford

Herefordshire

HR4 7BS

FIXED ASSETS

Tangible assets

2

1,464

1,830

CURRENT ASSETS

Stocks

40,000

50,000

Debtors

52,534

46,861

Cash at bank and in hand

107,727

36,874

200,261

133,735

CREDITORS

Amounts falling due within one year

69,361

73,877

NET CURRENT ASSETS

130,900

59,858

TOTAL ASSETS LESS CURRENT LIABILITIES

132,364

61,688

CREDITORS

Amounts falling due after more than one year

(35,000

)

(35,000

)

PROVISIONS FOR LIABILITIES

(293

)

(366

)

NET ASSETS

97,071

26,322

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

96,971

26,222

SHAREHOLDERS' FUNDS

97,071

26,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 3 November 2016 and were signed by:

N J Bevan - 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 January 2015).

Turnover

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

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

-

20% 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

4,100

DEPRECIATION

At 1 August 2015

2,270

Charge for year

366

At 31 July 2016

2,636

NET BOOK VALUE

At 31 July 2016

1,464

At 31 July 2015

1,830

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

£

100

Ordinary

£1.00

100

100