Carpenter Oak Cornwall Ltd 08937797 false 2017-04-01 2018-03-31 2018-03-31 The principal activity of the company is oak frame building Digita Accounts Production Advanced 6.21.8540.0 Software true 08937797 2017-04-01 2018-03-31 08937797 2018-03-31 08937797 bus:Director1 1 2018-03-31 08937797 bus:OrdinaryShareClass1 2018-03-31 08937797 core:RetainedEarningsAccumulatedLosses 2018-03-31 08937797 core:ShareCapital 2018-03-31 08937797 core:CurrentFinancialInstruments 2018-03-31 08937797 core:CurrentFinancialInstruments core:WithinOneYear 2018-03-31 08937797 core:FurnitureFittingsToolsEquipment 2018-03-31 08937797 core:OtherPropertyPlantEquipment 2018-03-31 08937797 bus:SmallEntities 2017-04-01 2018-03-31 08937797 bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 08937797 bus:FullAccounts 2017-04-01 2018-03-31 08937797 bus:RegisteredOffice 2017-04-01 2018-03-31 08937797 bus:CompanySecretary1 2017-04-01 2018-03-31 08937797 bus:Director1 2017-04-01 2018-03-31 08937797 bus:Director1 1 2017-04-01 2018-03-31 08937797 bus:Director2 2017-04-01 2018-03-31 08937797 bus:Director3 2017-04-01 2018-03-31 08937797 bus:Director5 2017-04-01 2018-03-31 08937797 bus:OrdinaryShareClass1 2017-04-01 2018-03-31 08937797 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 08937797 core:FurnitureFittingsToolsEquipment 2017-04-01 2018-03-31 08937797 core:OfficeEquipment 2017-04-01 2018-03-31 08937797 core:OtherPropertyPlantEquipment 2017-04-01 2018-03-31 08937797 core:PlantMachinery 2017-04-01 2018-03-31 08937797 countries:England 2017-04-01 2018-03-31 08937797 2017-03-31 08937797 core:FurnitureFittingsToolsEquipment 2017-03-31 08937797 core:OtherPropertyPlantEquipment 2017-03-31 08937797 2016-04-01 2017-03-31 08937797 2017-03-31 08937797 bus:Director1 1 2017-03-31 08937797 bus:OrdinaryShareClass1 2017-03-31 08937797 core:RetainedEarningsAccumulatedLosses 2017-03-31 08937797 core:ShareCapital 2017-03-31 08937797 core:CurrentFinancialInstruments 2017-03-31 08937797 core:CurrentFinancialInstruments core:WithinOneYear 2017-03-31 08937797 core:FurnitureFittingsToolsEquipment 2017-03-31 08937797 core:OtherPropertyPlantEquipment 2017-03-31 08937797 bus:Director1 1 2016-04-01 2017-03-31 iso4217:GBP xbrli:pure xbrli:shares

Carpenter Oak Cornwall Ltd

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2018

Registration number: 08937797

 

Carpenter Oak Cornwall Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Carpenter Oak Cornwall Ltd

Company Information

Directors

Mr A Milton

Mr L Manning

Mr S J Voaden

Mr T J Simpson

Company secretary

Mr L Manning

Registered office

The Framing Yard
Cornworthy
Totnes
Devon
TQ9 7HF

Accountants

Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

 

Carpenter Oak Cornwall Ltd

Balance Sheet

31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

19,270

17,741

Current assets

 

Stocks

15,334

5,856

Debtors

5

35,934

41,884

Cash at bank and in hand

 

65,849

26,776

 

117,117

74,516

Creditors: Amounts falling due within one year

6

(106,970)

(74,433)

Net current assets

 

10,147

83

Total assets less current liabilities

 

29,417

17,824

Provisions for liabilities

(3,000)

(3,000)

Net assets

 

26,417

14,824

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

26,317

14,724

Total equity

 

26,417

14,824

 

Carpenter Oak Cornwall Ltd

Balance Sheet

31 March 2018

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 November 2018 and signed on its behalf by:
 

.........................................
Mr A Milton
Director

.........................................
Mr T J Simpson
Director

.........................................
Mr L Manning
Director

.........................................
Mr S J Voaden
Director

     

Company Registration Number: 08937797

 

Carpenter Oak Cornwall Ltd

Notes to the Financial Statements

Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Framing Yard
Cornworthy
Totnes
Devon
TQ9 7HF

The principal place of business is:
Towans Farm
Lelant
St Ives
Cornwall
TR263LP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the invoice value of work done and materials supplied excluding Value Added Tax. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Carpenter Oak Cornwall Ltd

Notes to the Financial Statements

Year Ended 31 March 2018

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant, machinery and equipment

20% straight line

Office equipment

20% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Where work in progress reflects only the purchase of materials it is valued on the basis of direct costs. Provision is made for any foreseeable losses where appropriate.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Carpenter Oak Cornwall Ltd

Notes to the Financial Statements

Year Ended 31 March 2018

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2017 - 7).

 

Carpenter Oak Cornwall Ltd

Notes to the Financial Statements

Year Ended 31 March 2018

4

Tangible assets

Office equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2017

-

24,708

24,708

Additions

1,323

3,640

4,963

At 31 March 2018

1,323

28,348

29,671

Depreciation

At 1 April 2017

-

6,967

6,967

Charge for the year

264

3,170

3,434

At 31 March 2018

264

10,137

10,401

Carrying amount

At 31 March 2018

1,059

18,211

19,270

At 31 March 2017

-

17,741

17,741

5

Debtors

2018
 £

2017
 £

Trade debtors

31,950

38,127

Other debtors

-

1,808

Prepayments

3,984

1,949

35,934

41,884

 

Carpenter Oak Cornwall Ltd

Notes to the Financial Statements

Year Ended 31 March 2018

6

Creditors

Creditors: amounts falling due within one year

2018
 £

2017
 £

Due within one year

Trade creditors

41,548

-

Social security and other taxes

4,916

-

Accrued expenses

35,986

48,164

Other creditors

24,520

26,269

106,970

74,433

7

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £11,487 (2017 - £14,711).

9

Related party transactions

Advances to directors

2018

At 1 April 2017
£

Advances to director
£

Repayments by director
£

At 31 March 2018
£

Mr A Milton

Loans

343

-

(343)

-

         
         

 

2017

At 1 April 2016
£

Advances to director
£

Repayments by director
£

At 31 March 2017
£

Mr A Milton

Loans

-

5,323

(4,980)

343

         
         

 

Carpenter Oak Cornwall Ltd

Notes to the Financial Statements

Year Ended 31 March 2018

 

Other transactions with directors

Lee Manning
(Director)

During the year the company paid fees to Mr L Manning for bookkeeping services of £6,500 (2017 - £6,000).