Registered number
08784297
OASIS CONTRACT SERVICES LTD
Report and Accounts
31 March 2016
OASIS CONTRACT SERVICES LTD
Registered number: 08784297
Director's Report
The director presents his report and accounts for the year ended 31 March 2016.
Principal activity
The principal activity of the company was that of servicing industrial pressure cleaners.
Directors
The following person served as director during the year:
S Trout
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Approval of this report
This report was approved by the board on 3 June 2016 and signed by its order.
Mrs L Trout
Secretary
OASIS CONTRACT SERVICES LTD
Accountants' Report
Accountants' report to the director of
OASIS CONTRACT SERVICES LTD
You consider that the company is exempt from an audit for the year ended 31 March 2016. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
G P Ivory & Co 344 Croydon Road
Chartered Accountants BECKENHAM
Kent
BR3 4EX
Dated 10 June 2016
OASIS CONTRACT SERVICES LTD
Profit and Loss Account
for the year ended 31 March 2016
Notes 2016 2015
£ £
Turnover 109,536 268,130
Cost of sales (69,985) (210,020)
Gross profit 39,551 58,110
Administrative expenses (24,333) (12,100)
Operating profit 2 15,218 46,010
Interest receivable 73 50
Profit on ordinary activities before taxation 15,291 46,060
Tax on profit on ordinary activities 3 (3,135) (9,313)
Profit for the financial year 12,156 36,747
OASIS CONTRACT SERVICES LTD
Balance Sheet
as at 31 March 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 4 4,281 -
Current assets
Debtors 5 4,913 11,175
Cash at bank and in hand 10,398 32,891
15,311 44,066
Creditors: amounts falling due within one year 6 (12,489) (23,119)
Net current assets 2,822 20,947
Net assets 7,103 20,947
Capital and reserves
Called up share capital 7 200 200
Profit and loss account 8 6,903 20,747
Shareholders' funds 7,103 20,947
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Approved by the board on 3 June 2016
S Trout
Director
OASIS CONTRACT SERVICES LTD
Notes to the Accounts
for the year ended 31 March 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% straight line
Motor vehicles 25% straight line
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
2 Operating profit 2016 2015
£ £
This is stated after charging:
Depreciation of owned fixed assets 1,407 -
Directors' remuneration 1,200 1,200
3 Taxation 2016 2015
£ £
UK corporation tax 3,135 9,313
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
Additions 300 5,388 5,688
At 31 March 2016 300 5,388 5,688
Depreciation
Charge for the year 60 1,347 1,407
At 31 March 2016 60 1,347 1,407
Net book value
At 31 March 2016 240 4,041 4,281
5 Debtors 2016 2015
£ £
Trade debtors 4,621 9,695
Other debtors 292 1,480
4,913 11,175
6 Creditors: amounts falling due within one year 2016 2015
£ £
Trade creditors 620 2,430
Corporation tax 3,135 9,313
Other taxes and social security costs 2,190 10,574
Director's loan account 5,688 -
Other creditors 856 802
12,489 23,119
7 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 200 200 200
Nominal Number Amount
value £
Shares issued during the period:
Ordinary shares £1 each 200 -
8 Profit and loss account 2016
£
At 1 April 2015 20,747
Profit for the year 12,156
Dividends (26,000)
At 31 March 2016 6,903
9 Dividends 2016 2015
£ £
Dividends for which the company became liable during the year:
Dividends paid 26,000 16,000
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
S Trout
loan repayable on demand (1,000) 1,000 - -
(1,000) 1,000 - -
11 Related party transactions 2016 2015
£ £
S Trout
director and shareholder
dividends paid (13,000) (8,000)
Mrs L Trout
secretary and shareholder
dividends paid (13,000) (8,000)
12 Ultimate controlling party
Throughout the year the company was under the control of Mr S Trout the sole director and major shareholder.
13 Comparative figures
The comparative figures are for the period 20 November 2013 to 31 March 2015
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