Ox in Flames Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04197335 (England and Wales)

Abbreviated Accounts

for the Year Ended 30 April 2016

for

OX IN FLAMES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

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

2

-

875

Tangible assets

3

22,829

29,043

22,829

29,918

CURRENT ASSETS

Stocks

39,158

30,776

Debtors

38,318

44,928

Cash at bank and in hand

50,264

26,603

127,740

102,307

CREDITORS

Amounts falling due within one year

126,633

123,160

NET CURRENT ASSETS/(LIABILITIES)

1,107

(20,853

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

23,936

9,065

CREDITORS

Amounts falling due after more than one year

(15,000

)

-

PROVISIONS FOR LIABILITIES

(3,328

)

(4,307

)

NET ASSETS

5,608

4,758

CAPITAL AND RESERVES

Called up share capital

4

1,300

Profit and loss account

4,308

3,458

SHAREHOLDERS' FUNDS

5,608

4,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 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 6 October 2016 and were signed on its behalf by:

G R C Butler - Director

P G Butler - 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

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 November 2006 for £15,000 and this is also 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.

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.

Deferred tax

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

where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or

to receive more tax, with the following exception:

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will

be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing

differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

75,725

AMORTISATION

At 1 May 2015

74,850

Amortisation for year

875

At 30 April 2016

75,725

NET BOOK VALUE

At 30 April 2016

-

At 30 April 2015

875

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

130,293

Additions

334

Disposals

(2,500

)

At 30 April 2016

128,127

DEPRECIATION

At 1 May 2015

101,250

Charge for year

6,371

Eliminated on disposal

(2,323

)

At 30 April 2016

105,298

NET BOOK VALUE

At 30 April 2016

22,829

At 30 April 2015

29,043

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

1,000

Ordinary

£1

1,000

100

"A" Ordinary

£1

100

"B" Ordinary

£1

100

"C" Ordinary

£1

100

1,300

The Ordinary, "B" Ordinary and "C" Ordinary shares are equity shares and have full voting rights. They all rank pari pasu

with each other in all respects. The "A" ordinary shares have no voting rights apart from changes in its own class of share.

They are entitled to dividends recommended by the directors. In the event of a winding up, the shares will rank for payment

before the Ordinary , "B" and "C" ordinary shares but only to a maximum of £1 per share, being their issue price at par.

5.	ULTIMATE CONTROLLING PARTY

There is no overall control of the company.