OAKLANDS_DECORATING_SERVI - Accounts
OAKLANDS_DECORATING_SERVI - Accounts
Company Registration No. 07336459 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(35,169 )
(22,773 )
Net current liabilities
(908 )
(1,517 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
4
(6,876 )
(3,373 )
5,840
706
Capital and reserves
Called up share capital
5
Profit and loss account
Shareholders' funds
Director's responsibilities:
-
-
Approved by the Board for issue on 17 May 2017
Director
Company Registration No. 07336459
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Fixtures, fittings and equipment
Motor vehicles
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015
13,457
Additions
17,865
Disposals
(12,595)
At 31 August 2016
18,727
Depreciation
At 1 September 2015
7,861
On disposals
(7,281)
Charge for the year
4,523
At 31 August 2016
5,103
Net book value
At 31 August 2016
13,624
At 31 August 2015
5,596
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £2,427 (2015 - £2,314).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £6,876 (2015 - £3,373).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
6
Related party relationships and transactions
Other transactions
At the year end the company owes Mr D J Cross £29,172 (2015: £15,653) by way of his director's current account.
The company operates rent free from the director's home address.