Company Registration No. 09799749 (England and Wales)
The Office Products Corporation Ltd
Unaudited
Financial Statements
for the year ended 30 September 2019
PAGES FOR FILING WITH REGISTRAR
The Office Products Corporation Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
The Office Products Corporation Ltd
Balance sheet
as at 30 September 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,507
5,345
Current assets
Debtors
4
282,529
217,452
Cash at bank and in hand
256,698
168,849
539,227
386,301
Creditors: amounts falling due within one year
5
(223,452)
(200,371)
Net current assets
315,775
185,930
Total assets less current liabilities
320,282
191,275
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
320,182
191,175
Total equity
320,282
191,275
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has 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 and signed by the director and authorised for issue on 2 July 2020
D Waller
Director
Company Registration No. 09799749
The Office Products Corporation Ltd
Notes to the financial statements
for the year ended 30 September 2019
- 2 -
1
Accounting policies
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.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the companies ordinary activities. Turnover is recognised on supply of services.
The total turnover of the company for the year has been derived from its principle activity wholly undertaken in the UK.
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
15% reducing balance
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
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.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 14 (2018 - 10).
The Office Products Corporation Ltd
Notes to the financial statements (continued)
for the year ended 30 September 2019
- 3 -
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 October 2018 and 30 September 2019
7,845
Depreciation and impairment
At 1 October 2018
2,002
Depreciation charged in the year
1,336
At 30 September 2019
3,338
Carrying amount
At 30 September 2019
4,507
At 30 September 2018
5,345
Last year c/fwd cost
7,347
Differs from this year b/fwd by
498
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
282,529
217,452
5
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
70,795
50,390
Corporation tax
61,297
47,123
Other taxation and social security
79,579
98,375
Other creditors
4,022
4,022
Accruals and deferred income
7,759
461
223,452
200,371
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
The Office Products Corporation Ltd
Notes to the financial statements (continued)
for the year ended 30 September 2019
- 4 -
7
Company information
The Office Products Corporation Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
200 Pasture Lane, Bradford, BD7 2SE.