Summit Oxygen International Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05610446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

SUMMIT OXYGEN INTERNATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr N Greenwood

SECRETARY:

Mrs C T M M Greenwood

REGISTERED OFFICE:

CPC1

Capital Park

Fulbourn

CAMBRIDGE

Cambridgeshire

CB21 5XE

REGISTERED NUMBER:

05610446 (England and Wales)

ACCOUNTANTS:

Staffords

Chartered Accountants

CPC1

Capital Park

Fulbourn

CAMBRIDGE

Cambridgeshire

CB21 5XE

BANKERS:

Natwest Bank Plc

Direct Business Banking

PO Box 4115

Hornchurch

Essex

RM12 4DF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

185,510

149,900

185,510

149,900

CURRENT ASSETS

Stocks

39,823

24,333

Debtors

6

32,650

20,707

Cash at bank

13,299

17,710

85,772

62,750

CREDITORS

Amounts falling due within one year

7

74,179

42,570

NET CURRENT ASSETS

11,593

20,180

TOTAL ASSETS LESS CURRENT LIABILITIES

197,103

170,080

PROVISIONS FOR LIABILITIES

8

32,772

20,860

NET ASSETS

164,331

149,220

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

164,231

149,120

SHAREHOLDERS' FUNDS

164,331

149,220

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 26 September 2017 and were signed by:

Mr N Greenwood - Director

1.	STATUTORY INFORMATION

Summit Oxygen International 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

20% on cost

Plant and machinery

-

at varying rates 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2015 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2016

and 31 December 2016

8,695

AMORTISATION

At 1 January 2016

and 31 December 2016

8,695

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Payments

Freehold

Plant and

on

property

machinery

account

Totals

£

£

£

£

COST

At 1 January 2016

51,576

373,870

10,084

435,530

Additions

-

104,815

-

104,815

Transfer to ownership

-

10,084

(10,084

)

-

At 31 December 2016

51,576

488,769

-

540,345

DEPRECIATION

At 1 January 2016

42,461

243,169

-

285,630

Charge for year

9,115

60,090

-

69,205

At 31 December 2016

51,576

303,259

-

354,835

NET BOOK VALUE

At 31 December 2016

-

185,510

-

185,510

At 31 December 2015

9,115

130,701

10,084

149,900

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

-

650

Other debtors

26,024

9,076

VAT

5,001

9,356

Prepayments and accrued income

1,625

1,625

32,650

20,707

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

20,396

4,436

Tax

6,507

8,461

Social security and other taxes

312

398

Other creditors

3,501

-

Directors' loan accounts

41,663

27,575

Accruals and deferred income

1,800

1,700

74,179

42,570

8.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

32,772

20,860

Deferred

tax

£

Balance at 1 January 2016

20,860

Provided during year

11,912

Balance at 31 December 2016

32,772

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £24,577 (2015 - £23,860) were paid to the director .

During the year the director received remuneration of £8,060 (2015:£8,034)