Oak Floor It Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06650986 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2017

for

Oak Floor It Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J Bevan

Mrs E Bevan

SECRETARY:

N J Bevan

REGISTERED OFFICE:

2 Wyevale Business Park

Kings Acre

Hereford

Herefordshire

HR4 7BS

REGISTERED NUMBER:

06650986 (England and Wales)

ACCOUNTANTS:

Thorne Widgery Accountancy Ltd

Chartered Accountants

2 Wyevale Business Park

Kings Acre

Hereford

Herefordshire

HR4 7BS

FIXED ASSETS

Tangible assets

4

3,339

1,464

CURRENT ASSETS

Stocks

38,000

40,000

Debtors

87,260

52,534

Cash at bank and in hand

83,616

107,727

208,876

200,261

CREDITORS

Amounts falling due within one year

60,524

69,361

NET CURRENT ASSETS

148,352

130,900

TOTAL ASSETS LESS CURRENT LIABILITIES

151,691

132,364

CREDITORS

Amounts falling due after more than one year

(35,000

)

(35,000

)

PROVISIONS FOR LIABILITIES

5

(634

)

(293

)

NET ASSETS

116,057

97,071

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

115,957

96,971

SHAREHOLDERS' FUNDS

116,057

97,071

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 14 February 2018 and were signed on its behalf by:

N J Bevan - Director

1.	STATUTORY INFORMATION

Oak Floor It Ltd 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.

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 has had no impact on the figures for the

comparative period.

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.

Plant and machinery

-

20% on reducing balance

Stocks

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

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. 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 or deferred 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.

Deferred tax

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

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2016

4,100

Additions

2,710

At 31 July 2017

6,810

DEPRECIATION

At 1 August 2016

2,636

Charge for year

835

At 31 July 2017

3,471

NET BOOK VALUE

At 31 July 2017

3,339

At 31 July 2016

1,464

5.	PROVISIONS FOR LIABILITIES

31.7.17

31.7.16

£

£

Deferred tax

634

293

Deferred

tax

£

Balance at 1 August 2016

293

Provided during year

341

Accelerated capital allowances

Balance at 31 July 2017

634

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.17

31.7.16

value:

£

£

100

Ordinary

£1.00

100

100