Abbreviated Company Accounts - OCS LEASE LIMITED

Registered Number 08200652

OCS LEASE LIMITED

Abbreviated Accounts

30 September 2016

OCS LEASE LIMITED Registered Number 08200652

Abbreviated Balance Sheet as at 30 September 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	-	676,471
		-	676,471
Current assets
Debtors		-	82,140
Cash at bank and in hand		47	1,011
		47	83,151
Creditors: amounts falling due within one year		-	(111,792)
Net current assets (liabilities)		47	(28,641)
Total assets less current liabilities		47	647,830
Creditors: amounts falling due after more than one year		(121,431)	(730,000)
Total net assets (liabilities)		(121,384)	(82,170)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(121,484)	(82,270)
Shareholders' funds		(121,384)	(82,170)

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 June 2017

And signed on their behalf by:
R A P De Fazio, Director

OCS LEASE LIMITED Registered Number 08200652

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents rental income invoiced in the year, net of VAT.

Tangible assets depreciation policy
Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Property - 15 years
Fixtures & Fittings - 5 years

Depreciation is calculated as to write off the cost of an asset, less its estimated residual value, over the useful economic llife of that asset as follows:

Other accounting policies
Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2Tangible fixed assets

	£
Cost
At 1 October 2015	753,641
Additions	-
Disposals	(753,641)
Revaluations	-
Transfers	-
At 30 September 2016	0
Depreciation
At 1 October 2015	77,170
Charge for the year	-
On disposals	(77,170)
At 30 September 2016	0
Net book values
At 30 September 2016	0
At 30 September 2015	676,471