Op Trading Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09180445 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

FOR

OP TRADING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

O McMahon

P I Thompson

REGISTERED OFFICE:

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

REGISTERED NUMBER:

09180445 (England and Wales)

ACCOUNTANTS:

Goldwyns Limited

Chartered Accountants

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

FIXED ASSETS

Tangible assets

2

268,081

313,696

CURRENT ASSETS

Stocks

42,912

63,002

Debtors

129,254

27,104

Cash at bank and in hand

81,081

87,711

253,247

177,817

CREDITORS

Amounts falling due within one year

3

484,504

552,192

NET CURRENT LIABILITIES

(231,257

)

(374,375

)

TOTAL ASSETS LESS CURRENT LIABILITIES

36,824

(60,679

)

CREDITORS

Amounts falling due after more than one year

3

149,550

-

NET LIABILITIES

(112,726

)

(60,679

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(112,826

)

(60,779

)

SHAREHOLDERS' FUNDS

(112,726

)

(60,679

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 31 July 2017 and were signed on its behalf by:

P I Thompson - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

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

Improvements to property

-

over remaining period of lease

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

383,667

Additions

24,868

At 31 August 2016

408,535

DEPRECIATION

At 1 September 2015

69,971

Charge for year

70,483

At 31 August 2016

140,454

NET BOOK VALUE

At 31 August 2016

268,081

At 31 August 2015

313,696

3.

CREDITORS

Creditors include an amount of £ 164,966 for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

£

Repayable by instalments

87,885

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

100

100

100

5.	GOING CONCERN

The financial statements show that at 31 August 2016 the company had a deficiency of net assets amounting to

£124,486 (2015 - £60,679). The continuation of the company's activities is dependent on the continued support

of its directors. The financial statements are therefore drawn up under the historical cost convention and on a

going concern basis.