O.L. Engineering Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04743396 (England and Wales)

O.L. ENGINEERING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N S Lambourn

S Dudley-Warde

SECRETARY:

N S Lambourn

REGISTERED OFFICE:

Barns A & B Bowley Farm Estate

Bowley Lane

South Mundham

Chichester

West Sussex

PO20 1NB

REGISTERED NUMBER:

04743396 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

North Street

Havant

Hampshire

PO9 1QU

FIXED ASSETS

Tangible assets

4

131

175

CURRENT ASSETS

Debtors

5

28,773

29,351

Cash at bank

4,118

10,591

32,891

39,942

CREDITORS

Amounts falling due within one year

6

42,167

48,755

NET CURRENT LIABILITIES

(9,276

)

(8,813

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,145

)

(8,638

)

PROVISIONS FOR LIABILITIES

25

35

NET LIABILITIES

(9,170

)

(8,673

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(9,172

)

(8,675

)

SHAREHOLDERS' FUNDS

(9,170

)

(8,673

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 10 July 2017 and were signed on its behalf by:

N S Lambourn - Director

S Dudley-Warde - Director

1.	STATUTORY INFORMATION

O.L. Engineering Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year in which the financial statements have been prepared under FRS 102, the comparative prior

year amounts have not been restated as no adjustments were necessary.

Turnover

Turnover represents net sales of goods and services, 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

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2016

and 31 March 2017

3,100

DEPRECIATION

At 1 April 2016

2,925

Charge for year

44

At 31 March 2017

2,969

NET BOOK VALUE

At 31 March 2017

131

At 31 March 2016

175

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

23,773

26,351

Other debtors

5,000

3,000

28,773

29,351

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

89

13,500

Taxation and social security

1,891

1,145

Other creditors

40,187

34,110

42,167

48,755