Ovation - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03877970 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2017

FOR

OVATION INTERIOR FLOORING DESIGN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

P A Ashworth

J N Ashworth

REGISTERED OFFICE:

Unit 12 Gatehead Business Park

Delph New Road

Delph

Oldham

OL3 5DE

REGISTERED NUMBER:

03877970 (England and Wales)

ACCOUNTANTS:

Jane Cooksey Limited

FCCA

15/16 Boarshurst Bus. Park,

Boarshurst Lane, Greenfield

Oldham

Lancashire

OL3 7ER

FIXED ASSETS

Tangible assets

3

7,228

8,503

CURRENT ASSETS

Stocks

48,237

154,070

Debtors

4

139,456

121,721

Cash at bank and in hand

33,536

8,262

221,229

284,053

CREDITORS

Amounts falling due within one year

5

143,605

241,559

NET CURRENT ASSETS

77,624

42,494

TOTAL ASSETS LESS CURRENT LIABILITIES

84,852

50,997

CAPITAL AND RESERVES

Called up share capital

1,421

1,421

Retained earnings

83,431

49,576

SHAREHOLDERS' FUNDS

84,852

50,997

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 30 November 2017 and were signed on its behalf by:

P A Ashworth - Director

1.	STATUTORY INFORMATION

Ovation Interior Flooring Design 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

-

15% 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

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.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2016

and 28 February 2017

35,915

DEPRECIATION

At 1 March 2016

27,412

Charge for year

1,275

At 28 February 2017

28,687

NET BOOK VALUE

At 28 February 2017

7,228

At 29 February 2016

8,503

4.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

17,486

30,034

Other debtors

100,415

78,974

117,901

109,008

Amounts falling due after more than one year:

Other debtors

21,555

12,713

Aggregate amounts

139,456

121,721

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

21,928

22,080

Trade creditors

51,839

156,094

Taxation and social security

8,867

2,516

Other creditors

60,971

60,869

143,605

241,559

6.	RELATED PARTY DISCLOSURES

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 28 February 2017 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Jane Cooksey Limited

FCCA

15/16 Boarshurst Bus. Park,

Boarshurst Lane, Greenfield

Oldham

Lancashire

OL3 7ER

30 November 2017