Company Registration No. 09260500 (England and Wales)
Oreknot Creative Hub Limited
Unaudited accounts
for the year ended 31 March 2017
Oreknot Creative Hub Limited
Unaudited accounts
Contents
Oreknot Creative Hub Limited
Company Information
for the year ended 31 March 2017
Company Number
09260500 (England and Wales)
Registered Office
27 Bridge Street
Carmarthen
Carmarthenshire
SA31 3JS
Accountants
Waltwood Accountants
Bron Haul
Johns Terrace, Carmel
Llanelli
Carmarthenshire
SA14 7SD
Oreknot Creative Hub Limited
Statement of financial position
as at 31 March 2017
Cash at bank and in hand
-
10
Creditors: amounts falling due within one year
(40,361)
(18,481)
Net current liabilities
(32,098)
(15,631)
Net liabilities
(23,463)
(14,739)
Called up share capital
1
1
Profit and loss account
(23,464)
(14,740)
Shareholders' funds
(23,463)
(14,739)
For the year ending 31 March 2017 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 29 December 2017.
Mr N Carroll
Director
Company Registration No. 09260500
Oreknot Creative Hub Limited
Notes to the Accounts
for the year ended 31 March 2017
Oreknot Creative Hub Limited is a private company, limited by shares, registered in England and Wales, registration number 09260500. The registered office is 27 Bridge Street, Carmarthen, Carmarthenshire, SA31 3JS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Oreknot Creative Hub Limited
Notes to the Accounts
for the year ended 31 March 2017
4
Tangible fixed assets
Plant & machinery
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
3,369
-
Trade creditors
2,526
1,752
Taxes and social security
-
404
Loans from directors
34,466
16,325
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Average number of employees
During the year the average number of employees was 7 (2016: 6).
