|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
|
FOR |
|
OAK INTERNATIONAL TRANSPORT LTD. |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
|
FOR |
|
OAK INTERNATIONAL TRANSPORT LTD. |
OAK INTERNATIONAL TRANSPORT LTD. (REGISTERED NUMBER: 02690391) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 MARCH 2019 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 4 |
|
OAK INTERNATIONAL TRANSPORT LTD. |
|
COMPANY INFORMATION |
for the Year Ended 31 MARCH 2019 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
and Statutory Auditor |
61 Queen Square |
Bristol |
BS1 4JZ |
OAK INTERNATIONAL TRANSPORT LTD. (REGISTERED NUMBER: 02690391) |
|
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2019 |
|
2019 | 2018 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Capital redemption reserve |
|
|
Retained earnings |
|
|
|
|
|
|
|
|
|
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. |
OAK INTERNATIONAL TRANSPORT LTD. (REGISTERED NUMBER: 02690391) |
|
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2019 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
OAK INTERNATIONAL TRANSPORT LTD. (REGISTERED NUMBER: 02690391) |
|
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 MARCH 2019 |
|
1. | STATUTORY INFORMATION |
|
Oak International Transport Ltd. is a
|
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 |
|
|
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 |
Tangible assets are initially recorded at cost, and subsequently stated at cost less any |
accumulated depreciation and impairment losses. Any tangible assets carried at revalued |
amounts are recorded at the fair value at the date of revaluation less any subsequent |
accumulated depreciation and subsequent accumulated impairment losses. |
|
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in |
other comprehensive income and accumulated in equity, except to the extent it reverses a |
revaluation decrease of the same asset previously recognised in profit or loss. A decrease in |
the carrying amount of an asset as a result of revaluation, is recognised in other |
comprehensive income to the extent of any previously recognised revaluation increase |
accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the |
accumulated revaluation gains accumulated in equity in respect of that asset, the excess |
shall be recognised in profit or loss. |
|
Depreciation |
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual |
value, over the useful economic life of that asset as follows: |
|
Vans - 20% straight line |
OAK INTERNATIONAL TRANSPORT LTD. (REGISTERED NUMBER: 02690391) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2019 |
|
2. | ACCOUNTING POLICIES - continued |
|
Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the |
contractual arrangements entered into. An equity instrument is any contract that evidences a |
residual interest in the assets of the entity after deducting all of its financial liabilities. |
|
Where the contractual obligations of financial instruments (including share capital) are |
equivalent to a similar debt instrument, those financial instruments are classed as financial |
liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and |
gains or losses relating to financial liabilities are included in the profit and loss account. |
Finance costs are calculated so as to produce a constant rate of return on the outstanding |
liability. |
|
Where the contractual terms of share capital do not have any terms meeting the definition of |
a financial liability then this is classed as an equity instrument. Dividends and distributions |
relating to equity instruments are debited direct to equity. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement |
of Income and Retained Earnings, 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 statement of financial position date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the statement of financial position 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 statement of financial position 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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
OAK INTERNATIONAL TRANSPORT LTD. (REGISTERED NUMBER: 02690391) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2019 |
|
4. | TANGIBLE FIXED ASSETS |
Motor |
vehicles |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
|
DEPRECIATION |
At 1 April 2018 |
and 31 March 2019 |
|
NET BOOK VALUE |
At 31 March 2019 |
|
At 31 March 2018 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
Directors' current accounts | 3,331 | 7,529 |
Prepayments and accrued income |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
VAT | 5,426 | 4,895 |
Accruals and deferred income |
|
|
|
|
OAK INTERNATIONAL TRANSPORT LTD. (REGISTERED NUMBER: 02690391) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2019 |
|
7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to a director subsisted during the years ended |
31 March 2019 and 31 March 2018: |
|
2019 | 2018 |
£ | £ |
|
Balance outstanding at start of year |
|
( |
) |
Amounts advanced |
|
|
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
8. | RELATED PARTY DISCLOSURES |
|
The company was under the control of Mr R N Godivala throughout the current and previous |
year. Mr R N Godivala is the managing director and majority shareholder. |
|
During the year Mr R N Godivala received dividends of £27,000 (2018 - £9,000). |
|
At the year end Mr R N Godivala owed the company £3,331 (2018 - £7,529). |