Penny Oakes Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04775716 (England and Wales)

PENNY OAKES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTOR:

Mrs P J Oakes

SECRETARY:

Mr R J Oakes

REGISTERED OFFICE:

20 King's Lynn Road

Hunstanton

Norfolk

PE36 5HP

REGISTERED NUMBER:

04775716 (England and Wales)

FIXED ASSETS

Tangible assets

2

105

70

CURRENT ASSETS

Debtors

804

706

Investments

20

20

Cash at bank

50,266

45,579

51,090

46,305

CREDITORS

Amounts falling due within one year

23,077

21,106

NET CURRENT ASSETS

28,013

25,199

TOTAL ASSETS LESS CURRENT LIABILITIES

28,118

25,269

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

28,018

25,169

SHAREHOLDERS' FUNDS

28,118

25,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 16 October 2014 and were signed by:

Mrs P J Oakes - 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 and accrued sales of services, excluding value added tax

under the flat rate scheme.

Tangible fixed assets

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

Equipment

-

25% on cost

Computer equipment

-

25% on cost

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation

computations in periods different from those in which they are included in the company's

accounts. Deferred tax is provided in full on timing differences which result in an obligation

to pay more (or less) tax at a future date, at the average tax rates that are expected to apply

when the timing differences reverse, based on current tax rates and laws.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

4,864

Additions

140

Disposals

(3,368

)

At 30 June 2014

1,636

DEPRECIATION

At 1 July 2013

4,794

Charge for year

105

Eliminated on disposal

(3,368

)

At 30 June 2014

1,531

NET BOOK VALUE

At 30 June 2014

105

At 30 June 2013

70

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1.00

100

100

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 1 July 2013, the company owed the director, Mrs P J Oakes, £498 in respect of her

director's loan account. During the year, the director introduced funds totalling £30,450 to the

business, and withdrawals amounted to £30,450. As at 30 June 2014, the company owed the

director £498. This loan is unsecured, interest free and has no fixed date for repayment.

Interim dividends drawn by the director, Mrs P J Oakes, in the year total £30,000 (2013:

£30,000).