P & J Okell Ltd - Accounts to registrar (filleted) - small 18.2

P & J Okell Ltd - Accounts to registrar (filleted) - small 18.2

P & J OKELL LTD - Company Information

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REGISTERED NUMBER: 09799792 (England and Wales)















P & J OKELL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2018






P & J OKELL LTD (REGISTERED NUMBER: 09799792)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


P & J OKELL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2018







DIRECTORS: P M C Okell
J D Okell





REGISTERED OFFICE: The Croft Stables
Station Lane
Great Barrow
Chester
CH3 7JN





REGISTERED NUMBER: 09799792 (England and Wales)





ACCOUNTANTS: Clarke Nicklin LLP
Chartered Accountants
Clarke Nicklin House
Brooks Drive
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3TD
Page 1
P & J OKELL LTD (REGISTERED NUMBER: 09799792)

BALANCE SHEET
30 SEPTEMBER 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 425 732

CURRENT ASSETS
Stocks 5 440,876 328,092
Debtors 6 32,910 57,832
Cash at bank and in hand 20,977 19,334
494,763 405,258
CREDITORS
Amounts falling due within one year 7 404,439 394,408
NET CURRENT ASSETS 90,324 10,850
TOTAL ASSETS LESS CURRENT
LIABILITIES
90,749
11,582

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 89,749 10,582
SHAREHOLDERS' FUNDS 90,749 11,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 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 1 May 2019 and were signed on its
behalf by:




P M C Okell - Director


The notes form part of these financial statements

Page 2
P & J OKELL LTD (REGISTERED NUMBER: 09799792)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018


1. STATUTORY INFORMATION

P & J Okell 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in
operational existence for the foreseeable future. The directors have reached this conclusion giving due
consideration to the projected future performance of the company and any potential risk that might
impact the company's ability to meet its required solvency levels. For this reason, they continue to
adopt the going concern basis in preparing the financial statements.

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 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.

Page 3 continued...
P & J OKELL LTD (REGISTERED NUMBER: 09799792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2018


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2017
and 30 September 2018 1,227
DEPRECIATION
At 1 October 2017 495
Charge for year 307
At 30 September 2018 802
NET BOOK VALUE
At 30 September 2018 425
At 30 September 2017 732

5. STOCKS
2018 2017
£    £   
Finished goods 440,876 328,092

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 18,908 57,358
Corporation tax recoverable 13,601 -
VAT 401 -
Prepayments - 474
32,910 57,832

Page 4 continued...
P & J OKELL LTD (REGISTERED NUMBER: 09799792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2018


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts (see note 8) 23,122 18,869
Other loans (see note 8) 86,477 86,477
Trade creditors 87,664 84,557
Corporation tax 18,571 9,830
Social security and other taxes 1,528 658
VAT - 17,080
Other creditors 7,666 4,959
Directors' current accounts 173,968 169,023
Accruals and deferred income 5,443 2,955
404,439 394,408

8. LOANS

An analysis of the maturity of loans is given below:

2018 2017
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 23,122 18,869
Other loans 86,477 86,477
109,599 105,346

9. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
500 Ordinary A £1 500 500
500 Ordinary B £1 500 500
1,000 1,000

Page 5