M. S. Oakes Joinery Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02370332 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

M. S. OAKES JOINERY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs V Oakes

Mr M S Oakes

Mr S Butcher

SECRETARY:

Mrs V Oakes

REGISTERED OFFICE:

Unit 1 - 5

Mobbs Way Business Park

Mobbs Way

Lowestoft

Suffolk

NR32 3BE

REGISTERED NUMBER:

02370332 (England and Wales)

ACCOUNTANTS:

Tubbs Son Giles & Co Limited

18 Gordon Road

Lowestoft

Suffolk

NR32 1NL

FIXED ASSETS

Tangible assets

2

20,876

27,322

CURRENT ASSETS

Stocks

125,103

109,120

Debtors

165,380

94,734

Cash at bank and in hand

279

31,654

290,762

235,508

CREDITORS

Amounts falling due within one year

115,813

79,487

NET CURRENT ASSETS

174,949

156,021

TOTAL ASSETS LESS CURRENT
LIABILITIES

195,825

183,343

PROVISIONS FOR LIABILITIES

2,138

2,979

NET ASSETS

193,687

180,364

CAPITAL AND RESERVES

Called up share capital

3

1,000

Profit and loss account

192,687

179,364

SHAREHOLDERS' FUNDS

193,687

180,364

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 27 March 2017 and were signed on its behalf by:

Mr M S Oakes - Director

Mrs V Oakes - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

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

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

217,453

DEPRECIATION

At 1 July 2015

190,131

Charge for year

6,446

At 30 June 2016

196,577

NET BOOK VALUE

At 30 June 2016

20,876

At 30 June 2015

27,322

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

1,000

Ordinary

1

1,000