Oasis Windows & Doors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05385608 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

OASIS WINDOWS & DOORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Weeks

C M Golding

SECRETARY:

Mrs J R Weeks

REGISTERED OFFICE:

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

05385608 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

55,914

68,722

55,914

68,722

CURRENT ASSETS

Stocks

4,759

4,925

Debtors

6

19,741

31,464

Cash at bank

35,459

61,610

59,959

97,999

CREDITORS

Amounts falling due within one year

7

(85,004

)

(127,281

)

NET CURRENT LIABILITIES

(25,045

)

(29,282

)

TOTAL ASSETS LESS CURRENT LIABILITIES

30,869

39,440

CREDITORS

Amounts falling due after more than one year

8

(558

)

(4,116

)

NET ASSETS

30,311

35,324

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

30,211

35,224

SHAREHOLDERS' FUNDS

30,311

35,324

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 15 August 2018 and were signed on its behalf by:

P J Weeks - Director

C M Golding - Director

1.	STATUTORY INFORMATION

Oasis Windows & Doors 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

over term of lease

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the

undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments

are initially measured at present value of the future payments and subsequently at amortised cost using the

effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

60,000

AMORTISATION

At 1 April 2017

and 31 March 2018

60,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 April 2017

39,199

456

5,729

Additions

-

1,550

593

At 31 March 2018

39,199

2,006

6,322

DEPRECIATION

At 1 April 2017

4,480

456

5,684

Charge for year

560

516

220

Eliminated on disposal

-

-

-

At 31 March 2018

5,040

972

5,904

NET BOOK VALUE

At 31 March 2018

34,159

1,034

418

At 31 March 2017

34,719

-

45

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2017

58,713

8,537

112,634

Additions

-

-

2,143

Disposals

(15,803

)

-

(15,803

)

At 31 March 2018

42,910

8,537

98,974

DEPRECIATION

At 1 April 2017

27,862

5,430

43,912

Charge for year

6,249

1,553

9,098

Eliminated on disposal

(9,950

)

-

(9,950

)

At 31 March 2018

24,161

6,983

43,060

NET BOOK VALUE

At 31 March 2018

18,749

1,554

55,914

At 31 March 2017

30,851

3,107

68,722

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

17,469

29,168

Prepayments

2,272

2,296

19,741

31,464

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

3,544

3,405

Trade creditors

32,350

33,668

Tax

17,300

25,800

Social security and other taxes

5,836

8,270

VAT

19,443

16,308

Other creditors

330

330

Directors' current accounts

2,551

35,850

Accrued expenses

3,650

3,650

85,004

127,281

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Mortgage

558

4,116

Amounts falling due in more than five years:

Repayable by instalments

Mortgage

558

4,116

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

26

Ordinary 'A'

£1

26

26

25

Ordinary 'B'

£1

25

25

25

Ordinary 'C'

£1

25

25

24

Ordinary 'D'

£1

24

24

100

100