Online Flooring Contracts Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09620221 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Online Flooring Contracts Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr LK O'Connell

Mr K Rooney

REGISTERED OFFICE:

237 Westcombe Hill

London

United Kingdom

SE3 7DW

REGISTERED NUMBER:

09620221 (England and Wales)

ACCOUNTANTS:

Finsbury Robinson Limited

237 Westcombe Hill

Blackheath

London

SE3 7DW

FIXED ASSETS

Tangible assets

4

39,420

52,790

CURRENT ASSETS

Stocks

28,600

27,450

Debtors

272,818

286,172

Cash at bank

585,618

401,896

887,036

715,518

CREDITORS

Amounts falling due within one year

80,482

106,613

NET CURRENT ASSETS

806,554

608,905

TOTAL ASSETS LESS CURRENT LIABILITIES

845,974

661,695

PROVISIONS FOR LIABILITIES

5,062

-

NET ASSETS

840,912

661,695

CAPITAL AND RESERVES

Called up share capital

5

100

100

Retained earnings

840,812

661,595

SHAREHOLDERS' FUNDS

840,912

661,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 30 June 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 23 November 2021 and were signed on its behalf by:

Mr K Rooney - Director

1.	STATUTORY INFORMATION

Online Flooring Contracts 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.

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.

Motor vehicles

-

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 statement of financial position date.

Deferred tax

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

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 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2020

and 30 June 2021

108,863

DEPRECIATION

At 1 July 2020

56,073

Charge for year

13,370

At 30 June 2021

69,443

NET BOOK VALUE

At 30 June 2021

39,420

At 30 June 2020

52,790

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

100

Ordinary

1

100

100