Oakbridge Development & Construction Com - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 00795813 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017

FOR

OAKBRIDGE DEVELOPMENT & CONSTRUCTION

COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs M L Gold

G S Gold

SECRETARY:

M Gold

REGISTERED OFFICE:

28 Highview Gardens

Edgware

Middlesex

HA8 9UE

REGISTERED NUMBER:

00795813 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

Paddington

London

W2 1HY

FIXED ASSETS

Tangible assets

4

106

142

CURRENT ASSETS

Stocks

462,823

76,926

Cash at bank

705,386

1,214,756

1,168,209

1,291,682

CREDITORS

Amounts falling due within one year

5

574,270

702,855

NET CURRENT ASSETS

593,939

588,827

TOTAL ASSETS LESS CURRENT LIABILITIES

594,045

588,969

CAPITAL AND RESERVES

Called up share capital

215,000

215,000

Retained earnings

379,045

373,969

SHAREHOLDERS' FUNDS

594,045

588,969

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 26 February 2018 and were signed on its behalf by:

Mrs M L Gold - Director

1.	STATUTORY INFORMATION

Oakbridge Development & Construction Company 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 May 2017 are the first that are prepared in accordance with FRS

102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 June 2015.

Turnover

Turnover is measured at the fair value of the consideration received or receivable.

Turnover represents the sale of stock and is recognised once the sales contract is completed.

Tangible fixed assets

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

Fixtures and fittings

-

25% reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment

losses.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if

appropriate, or if there is an indication of a significant change since the last reporting date.

Stocks

The company holds stock which comprises of property held for development along with costs attributable to

those development activities. The stock is stated at cost less impairment costs.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade debtors, trade creditors, other debtors and other creditors.

The basic financial instruments are initially recognised at transaction price and subsequently carried at amortised

cost.

Taxation

Taxation for the year comprises current tax only. 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 June 2016

and 31 May 2017

7,756

11,041

18,797

DEPRECIATION

At 1 June 2016

7,614

11,041

18,655

Charge for year

36

-

36

At 31 May 2017

7,650

11,041

18,691

NET BOOK VALUE

At 31 May 2017

106

-

106

At 31 May 2016

142

-

142

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Taxation and social security

(2,060

)

81,207

Other creditors

576,330

621,648

574,270

702,855

6.	RELATED PARTY DISCLOSURES

During the year a Director advanced monies to the company totalling £96,452. As at 31 May 2017 the company

owed the Director £570,691 (2016: £474,239). No interest is payable on this loan and the loan is repayable on

demand.