Overhang Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08414107 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

OVERHANG LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J T Ingram-Dodd

REGISTERED OFFICE:

42 New Road

Hextable

Kent

BR8 7LS

REGISTERED NUMBER:

08414107 (England and Wales)

ACCOUNTANTS:

Blue Rocket Accounting

Chartered Tax Advisers and Accountants

8 Twisleton Court

Priory Hill

Dartford

Kent

DA1 2EN

FIXED ASSETS

Tangible assets

4

106

134

CURRENT ASSETS

Stocks

-

8,175

Debtors

5

329

5,657

Cash at bank

14

1

343

13,833

CREDITORS

Amounts falling due within one year

6

68,791

58,064

NET CURRENT LIABILITIES

(68,448

)

(44,231

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(68,342

)

(44,097

)

CAPITAL AND RESERVES

Called up share capital

200

200

Share premium

2,480

2,480

Retained earnings

(71,022

)

(46,777

)

SHAREHOLDERS' FUNDS

(68,342

)

(44,097

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 26 April 2018 and were signed by:

J T Ingram-Dodd - Director

1.	STATUTORY INFORMATION

Overhang 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.

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.

Computer equipment

-

20% on cost

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 NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 March 2017

and 28 February 2018

141

DEPRECIATION

At 1 March 2017

7

Charge for year

28

At 28 February 2018

35

NET BOOK VALUE

At 28 February 2018

106

At 28 February 2017

134

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Trade debtors

-

88

Amounts owed by group undertakings

235

87

Other debtors

94

5,482

329

5,657

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Bank loans and overdrafts

5,897

4,585

Trade creditors

1,471

6,343

Taxation and social security

4,893

-

Other creditors

56,530

47,136

68,791

58,064

7.	RELATED PARTY DISCLOSURES

At 28 February 2018 an amount of £46,426 (2017: £39,595) was due to the director, which is included in other creditors.