Company Registration No. 07910617 (England and Wales)
OROKO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
PAGES FOR FILING WITH REGISTRAR
OROKO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OROKO LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2018
31 December 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
2
35,500
47,991
Current assets
Debtors
3
68,117
81,724
Cash at bank and in hand
98,872
155,042
166,989
236,766
Creditors: amounts falling due within one year
4
(31,632)
(122,519)
Net current assets
135,357
114,247
Total assets less current liabilities
170,857
162,238
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
170,757
162,138
Total equity
170,857
162,238
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 4 July 2019 and are signed on its behalf by:
Mr M Webb
Director
Company Registration No. 07910617
OROKO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
- 2 -
1
Accounting policies
Company information
Oroko Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Kings Parade, Lower Coombe Street, Croydon, Surrey, CR0 1AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for
services net of VAT and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
33% straight line
Computer equipment
33% straight line
Motor vehicles
25% straight line
1.4
Cash and cash equivalents
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
OROKO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.8
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
2
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2018
5,100
2,502
57,085
64,687
Additions
4,268
-
-
4,268
At 31 December 2018
9,368
2,502
57,085
68,955
Depreciation and impairment
At 1 January 2018
-
2,425
14,271
16,696
Depreciation charged in the year
2,411
77
14,271
16,759
At 31 December 2018
2,411
2,502
28,542
33,455
Carrying amount
At 31 December 2018
6,957
-
28,543
35,500
At 31 December 2017
5,100
77
42,814
47,991
OROKO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 4 -
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
10,998
39,365
Other debtors
56,466
41,487
67,464
80,852
2018
2017
Amounts falling due after more than one year:
£
£
Deferred tax asset
653
872
Total debtors
68,117
81,724
4
Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
10,517
22,623
Other taxation and social security
1,243
12,759
Other creditors
19,872
87,137
31,632
122,519
5
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
6
Directors' transactions
At the year end, included in other debtors is an amount of £ 22,266 (2017: £46,577 creditor) due to the director of the company.