Oakfield Flat Roofing Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07888215 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

OAKFIELD FLAT ROOFING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

MK Hill

SECRETARY:

REGISTERED OFFICE:

The Old Barn

Off Wood Street

Swanley Village

Kent

BR8 7PA

REGISTERED NUMBER:

07888215 (England and Wales)

ACCOUNTANTS:

Riddingtons Ltd

The Old Barn

Off Wood Street

Swanley Village

Kent

BR8 7PA

FIXED ASSETS

Tangible assets

4

21,799

25,215

CURRENT ASSETS

Stocks

-

1,000

Debtors

5

8,781

3,397

Cash at bank

20,081

16,650

28,862

21,047

CREDITORS

Amounts falling due within one year

6

25,825

39,147

NET CURRENT ASSETS/(LIABILITIES)

3,037

(18,100

)

TOTAL ASSETS LESS CURRENT LIABILITIES

24,836

7,115

PROVISIONS FOR LIABILITIES

3,171

3,594

NET ASSETS

21,665

3,521

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

21,655

3,511

21,665

3,521

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 9 March 2018 and were signed by:

MK Hill - Director

1.	STATUTORY INFORMATION

Oakfield Flat Roofing 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.

Plant and machinery etc

-

15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

42,051

Additions

432

At 31 December 2017

42,483

DEPRECIATION

At 1 January 2017

16,836

Charge for year

3,848

At 31 December 2017

20,684

NET BOOK VALUE

At 31 December 2017

21,799

At 31 December 2016

25,215

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

8,600

3,200

Other debtors

181

197

8,781

3,397

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

6,238

1,276

Other creditors

19,587

37,871

25,825

39,147