Oval Cloud Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07691879 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31st July 2017

for

Oval Cloud Limited

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

D J Fletcher-Shaw

Mrs L Fletcher

REGISTERED OFFICE:

64 - 66 Outram Street

Sutton in Ashfield

Nottinghamshire

NG17 4FS

BUSINESS ADDRESS:

43 Bradstone Drive

Mapperley

Nottingham

Nottinghamshire

NG3 5SY

REGISTERED NUMBER:

07691879 (England and Wales)

ACCOUNTANTS:

D. K. Rumsby & Co Limited

3 Colwick Quays

Colwick

Nottingham

Nottinghamshire

NG4 2JY

The directors present their report with the financial statements of the company for the year ended 31st July 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of freelance broadcasting, presenting,

interviewing and event organisation.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st August 2016 to the date

of this report.

D J Fletcher-Shaw

Mrs L Fletcher

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in

accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law

the directors have elected to prepare the financial statements in accordance with United Kingdom Generally

Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law

the directors must not approve the financial statements unless they are satisfied that they give a true and fair

view of the state of affairs of the company and of the profit or loss of the company for that period. In

preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain

the company's transactions and disclose with reasonable accuracy at any time the financial position of the

company and enable them to ensure that the financial statements comply with the Companies Act 2006. They

are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the

prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

D J Fletcher-Shaw - Director

21st November 2017

FIXED ASSETS

Tangible assets

4

4,740

5,429

CURRENT ASSETS

Debtors

5

101,607

140,020

Cash at bank

73,270

15,141

174,877

155,161

CREDITORS

Amounts falling due within one year

6

(140,958

)

(135,600

)

NET CURRENT ASSETS

33,919

19,561

TOTAL ASSETS LESS CURRENT LIABILITIES

38,659

24,990

PROVISIONS FOR LIABILITIES

(806

)

(1,086

)

NET ASSETS

37,853

23,904

CAPITAL AND RESERVES

Called up share capital

7

102

102

Retained earnings

37,751

23,802

SHAREHOLDERS' FUNDS

37,853

23,904

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

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

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 21st November 2017 and were signed on its behalf by:

D J Fletcher-Shaw - Director

1.	STATUTORY INFORMATION

Oval Cloud 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.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

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 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st August 2016

14,248

Additions

1,532

Disposals

(4,349

)

At 31st July 2017

11,431

DEPRECIATION

At 1st August 2016

8,819

Charge for year

2,221

Eliminated on disposal

(4,349

)

At 31st July 2017

6,691

NET BOOK VALUE

At 31st July 2017

4,740

At 31st July 2016

5,429

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

93,132

128,770

Other debtors

8,475

11,250

101,607

140,020

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade creditors

15,218

278

Taxation and social security

69,079

57,360

Other creditors

56,661

77,962

140,958

135,600

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.17

31.7.16

value:

£

£

100

Ordinary

£1

100

100

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

102

102