Ovation - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03877970 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

OVATION INTERIOR FLOORING DESIGN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

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

4

6,665

7,228

CURRENT ASSETS

Stocks

10,634

48,237

Debtors

5

410,021

139,456

Cash at bank and in hand

77,906

33,536

498,561

221,229

CREDITORS

Amounts falling due within one year

6

311,151

143,605

NET CURRENT ASSETS

187,410

77,624

TOTAL ASSETS LESS CURRENT LIABILITIES

194,075

84,852

CAPITAL AND RESERVES

Called up share capital

1,421

1,421

Retained earnings

192,654

83,431

SHAREHOLDERS' FUNDS

194,075

84,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 November 2018 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

-

25% on reducing balance and 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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2017

35,915

Additions

694

At 28 February 2018

36,609

DEPRECIATION

At 1 March 2017

28,687

Charge for year

1,257

At 28 February 2018

29,944

NET BOOK VALUE

At 28 February 2018

6,665

At 28 February 2017

7,228

5.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

221,955

17,486

Other debtors

159,339

100,415

381,294

117,901

2018

2017

£

£

Amounts falling due after more than one year:

Other debtors

28,727

21,555

Aggregate amounts

410,021

139,456

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

22,449

21,928

Trade creditors

182,901

51,839

Taxation and social security

21,965

8,867

Other creditors

83,836

60,971

311,151

143,605

7.	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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Ovation Interior Flooring Design Limited for the year ended

28 February 2018 which comprise the Income Statement, Balance Sheet and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Ovation Interior Flooring Design Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ovation Interior Flooring Design Limited and state those matters that we have agreed to state to the Board of Directors of Ovation Interior Flooring Design Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ovation Interior Flooring Design Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ovation Interior Flooring Design Limited. You consider that Ovation Interior Flooring Design Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ovation Interior Flooring Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jane Cooksey Limited

FCCA

15/16 Boarshurst Bus. Park,

Boarshurst Lane, Greenfield

Oldham

Lancashire

OL3 7ER

29 November 2018