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Unaudited Financial Statements |
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for the Year Ended 31 December 2018 |
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Classic Oils Limited |
Trading as |
Fuzz Townshend's Classic Oils |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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Classic Oils Limited |
Trading as |
Fuzz Townshend's Classic Oils |
Classic Oils Limited (Registered number: 06924394) |
Trading as Fuzz Townshend's Classic Oils |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Company Information | 1 |
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Report of the Accountants | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Classic Oils Limited |
Trading as Fuzz Townshend's Classic Oils |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Unit 3 The Courtyard |
Milton Road |
Aylesbury |
Buckinghamshire |
HP21 7LZ |
Classic Oils Limited |
Trading as Fuzz Townshend's Classic Oils |
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Report of the Accountants to the Directors of |
Classic Oils Limited |
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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. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for |
your approval the financial statements of Classic Oils Limited for the year ended |
31 December 2018 which comprises the Income Statement, Balance Sheet and the related notes |
from the company's accounting records and from information and explanations you have given us. |
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This report is made solely to the Board of Directors of Classic Oils Limited, as a body, in |
accordance with the terms of our engagement letter. Our work has been undertaken solely to |
prepare for your approval the accounts of Classic Oils Limited and state those matters that we |
have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do |
not accept or assume responsibility to anyone other than Classic Oils Limited and its Board of |
Directors as a body for our work or for this report. |
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It is your duty to ensure that Classic Oils Limited has kept adequate accounting records and to |
prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position |
and profit of Classic Oils Limited. You consider that Classic Oils Limited is exempt from the |
statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the accounts of Classic Oils |
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 accounts. |
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Unit 3 The Courtyard |
Milton Road |
Aylesbury |
Buckinghamshire |
HP21 7LZ |
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Classic Oils Limited (Registered number: 06924394) |
Trading as Fuzz Townshend's Classic Oils |
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Balance Sheet |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Investments | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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Classic Oils Limited (Registered number: 06924394) |
Trading as Fuzz Townshend's Classic Oils |
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Balance Sheet - continued |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Classic Oils Limited (Registered number: 06924394) |
Trading as Fuzz Townshend's Classic Oils |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Classic Oils Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of |
goods to customers. |
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Tangible fixed assets |
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Short leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Classic Oils Limited (Registered number: 06924394) |
Trading as Fuzz Townshend's Classic Oils |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and |
leasehold | machinery | fittings |
£ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Classic Oils Limited (Registered number: 06924394) |
Trading as Fuzz Townshend's Classic Oils |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Classic Oils Limited (Registered number: 06924394) |
Trading as Fuzz Townshend's Classic Oils |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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5. | FIXED ASSET INVESTMENTS - continued |
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The company's investments at the Balance Sheet date in the share capital of companies |
include the following: |
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Registered office: Unit 96 Bicester Heritage, Buckingham Road, Bicester, Oxfordshire, OX27 8AL |
Nature of business:
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Class of shares: | holding |
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£ | £ |
Aggregate capital and reserves |
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Registered office: Unit 20 Springfield Industrial Estate, Oldbury, West Midlands, United Kingdom, B69 4HH |
Nature of business:
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Class of shares: | holding |
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£ | £ |
Aggregate capital and reserves |
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Profit for the period |
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The company invested in SOS Workshop Limited in February 2018. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CURRENT ASSET INVESTMENTS |
31.12.18 | 31.12.17 |
£ | £ |
Other investments |
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Classic Oils Limited (Registered number: 06924394) |
Trading as Fuzz Townshend's Classic Oils |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Other creditors |
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10. | PROVISIONS FOR LIABILITIES |
31.12.18 | 31.12.17 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Deferred |
tax |
£ |
Balance at 1 January 2018 |
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Credit to Income Statement during year | ( |
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Balance at 31 December 2018 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.18 | 31.12.17 |
value: | £ | £ |
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Ordinary | £0.01 | 12 | 10 |
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year. |