Edward Oatley and Son Limited - Limited company - abbreviated - 11.0.0
Edward Oatley and Son Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2014 |
| FOR |
| EDWARD OATLEY AND SON LIMITED |
| EDWARD OATLEY AND SON LIMITED (REGISTERED NUMBER: 00545947) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 JUNE 2014 |
| Page |
| Company Information | 1 |
| Report of the Accountants | 2 |
| Abbreviated Balance Sheet | 3 |
| Notes to the Abbreviated Accounts | 5 |
| EDWARD OATLEY AND SON LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| EDWARD OATLEY AND SON LIMITED |
| REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
| EDWARD OATLEY AND SON LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to seven) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of |
| the company which comprise the profit and loss account, the balance sheet and the related notes from the accounting |
| records and information and explanations you have given to us. |
| You have acknowledged on the balance sheet that for the year ended 30 June 2014 your duty to ensure that the company |
| has kept adequate accounting records and to prepare financial statements that give a true and fair view under the |
| Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year. |
| We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the |
| accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, |
| therefore, express any opinion on the financial statements. |
| 8 December 2014 |
| EDWARD OATLEY AND SON LIMITED (REGISTERED NUMBER: 00545947) |
| ABBREVIATED BALANCE SHEET |
| 30 JUNE 2014 |
| 2014 | 2013 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Capital reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| EDWARD OATLEY AND SON LIMITED (REGISTERED NUMBER: 00545947) |
| ABBREVIATED BALANCE SHEET - continued |
| 30 JUNE 2014 |
| 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 were approved by the Board of Directors on by: |
| EDWARD OATLEY AND SON LIMITED (REGISTERED NUMBER: 00545947) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 JUNE 2014 |
| 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 April 2008). |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
| small company. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Tractors | - |
| Motor vehicles | - |
| Non-depreciation of freehold property |
| It is the company's policy to maintain the freehold property to a high standard, so that the estimated residual |
| value will not be impaired over time. The costs of the maintenance are charged to the profit and loss account as |
| they are incurred. The directors are of the opinion that any depreciation in respect of the company's freehold |
| property would be immaterial and consequently no provision is made in the accounts for such depreciation. |
| 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 arises as a result of including items of income and expenditure in taxation computations in periods |
| different from those in which they are included in the company's accounts. Deferred tax is provided in full on |
| timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates |
| that are expected to apply when the timing differences reverse, based on current tax rates and laws. The directors |
| have opted not to adopt a policy of discounting deferred tax assets or liabilities.. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. |
| EDWARD OATLEY AND SON LIMITED (REGISTERED NUMBER: 00545947) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2014 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 July 2013 |
| Additions |
| Disposals | ( |
) |
| At 30 June 2014 |
| DEPRECIATION |
| At 1 July 2013 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 June 2014 |
| NET BOOK VALUE |
| At 30 June 2014 |
| At 30 June 2013 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 July 2013 | 203,843 |
| Additions | 516,165 |
| Disposals | (80,000 | ) |
| At 30 June 2014 | 640,008 |
| NET BOOK VALUE |
| At 30 June 2014 |
| At 30 June 2013 |
| 4. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The aggregate total of debtors falling due after more than one year is £ |
| 5. | CREDITORS |
| Creditors include an amount of £ |
| EDWARD OATLEY AND SON LIMITED (REGISTERED NUMBER: 00545947) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2014 |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary | £1 |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 June 2014 and |
| 30 June 2013: |
| 2014 | 2013 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) | ( |
) |