1 Oak Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08656332 (England and Wales)

Financial Statements for the Year Ended 30 September 2017

for

1 Oak Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Sidhu

Mrs R Sidhu

REGISTERED OFFICE:

10C Peckingham Street

Halesowen

West Midlands

B63 3AW

REGISTERED NUMBER:

08656332 (England and Wales)

ACCOUNTANTS:

Blythe Phillips

10C Peckingham Street

Halesowen

West Midlands

B63 3AW

FIXED ASSETS

Tangible assets

4

417,397

306,506

CURRENT ASSETS

Stocks

13,827

5,888

Debtors

5

106,627

49,365

Cash at bank and in hand

126,536

100,500

246,990

155,753

CREDITORS

Amounts falling due within one year

6

134,945

176,562

NET CURRENT ASSETS/(LIABILITIES)

112,045

(20,809

)

TOTAL ASSETS LESS CURRENT LIABILITIES

529,442

285,697

CREDITORS

Amounts falling due after more than one year

7

562,497

350,567

NET LIABILITIES

(33,055

)

(64,870

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(33,057

)

(64,872

)

SHAREHOLDERS' FUNDS

(33,055

)

(64,870

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 1 March 2018 and were signed on its behalf by:

P Sidhu - Director

1.	STATUTORY INFORMATION

1 Oak 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.

Plant and machinery etc

-

25% 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 25 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2016

14,489

496,950

511,439

Additions

10,146

239,915

250,061

At 30 September 2017

24,635

736,865

761,500

DEPRECIATION

At 1 October 2016

5,039

199,894

204,933

Charge for year

4,927

134,243

139,170

At 30 September 2017

9,966

334,137

344,103

NET BOOK VALUE

At 30 September 2017

14,669

402,728

417,397

At 30 September 2016

9,450

297,056

306,506

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Other debtors

106,627

49,365

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade creditors

111,338

58,236

Taxation and social security

3,624

26,234

Other creditors

19,983

92,092

134,945

176,562

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Bank loans

562,497

350,567

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

562,497

350,567