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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 22 JANUARY 2018 TO 31 MARCH 2019 |
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WEST OAK INVESTMENTS LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 22 JANUARY 2018 TO 31 MARCH 2019 |
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FOR |
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WEST OAK INVESTMENTS LTD |
WEST OAK INVESTMENTS LTD (REGISTERED NUMBER: 11161468) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 22 JANUARY 2018 TO 31 MARCH 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 5 |
WEST OAK INVESTMENTS LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 22 JANUARY 2018 TO 31 MARCH 2019 |
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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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Chartered Accountants & Business Advisers |
20 Havelock Road |
Hastings |
East Sussex |
TN34 1BP |
WEST OAK INVESTMENTS LTD (REGISTERED NUMBER: 11161468) |
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BALANCE SHEET |
31 MARCH 2019 |
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Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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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
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WEST OAK INVESTMENTS LTD (REGISTERED NUMBER: 11161468) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 22 JANUARY 2018 TO 31 MARCH 2019 |
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1. | STATUTORY INFORMATION |
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West Oak Investments Ltd is a
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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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The directors have made an assessment about the company's ability to continue as a going concern and they do |
not consider there to be any material uncertainties. As a result they have adopted the going concern basis of |
accounting. |
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Turnover |
Turnover relates to management charges and other income. |
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Other income relates to dividends received from shares held in a group undertaking. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the period 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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 22 January 2018 |
and 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 21 January 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
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WEST OAK INVESTMENTS LTD (REGISTERED NUMBER: 11161468) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 22 JANUARY 2018 TO 31 MARCH 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
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Social security and other taxes |
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Net wages |
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VAT |
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Other creditors |
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Picross Precision Engineering |
Company Ltd |
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Directors' current accounts |
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Accrued expenses |
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7. | SECURED DEBTS |
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Davenham Asset Finance Limited hold a fixed and floating charge. The floating charge covers all the property or |
undertaking of the company. This charge includes a negative pledge. |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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As at the balance sheet date the director Mr D Willis was owed £6,830 by the company and director Mr R Philcox |
was owed £6,945 by the company. There are no terms attached to these balances. |
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9. | RELATED PARTY DISCLOSURES |
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As at the balance sheet date an amount of £900,000 is owed to Picross precision Engineering Co Ltd, a company |
under the joint control of Mr D Willis & Mr R Philcox. There are no terms attached and the loan is repayable on |
demand. |
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During the year management charges of £19,667 and dividends of £202,064 were received from Picross Precision |
Engineering Co Ltd. |
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10. | GOING CONCERN |
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Although current liabilities exceed current assets, the company has the full support of the directors and the |
intention to trade as normal going forward. The accounts have therefore been prepared on the assumption that |
the company will continue to trade for more than 12 months. |
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Within current liabilities is a loan of £900,000 payable to Picross Precision Engineering Co Ltd. Due to this loan |
having no terms attached and being repayable on demand the liability is shown within the accounts as current. |
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West Oak Investments Ltd is under the same control as Picross Precision Engineering Co Ltd therefore, the |
directors can dictate at what point and how much of the loan is repayable. The loan will only be required for |
repayment when West Oak Investments Ltd has sufficient funds to do so. |
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Therefore through their direct control of West Oak Investments Ltd and indirectly through their control of Picross |
Precision Engineering Co Ltd the directors fully support the company and confirm their assessment of its ability to |
continue to trade. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
WEST OAK INVESTMENTS LTD |
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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 West Oak Investments Ltd for the period ended 31 March 2019 which comprise 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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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of West Oak Investments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of West Oak Investments Ltd and state those matters that we have agreed to state to the Board of Directors of West Oak Investments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than West Oak Investments Ltd 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 West Oak Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of West Oak Investments Ltd. You consider that West Oak Investments Ltd is exempt from the statutory audit requirement for the period. |
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We have not been instructed to carry out an audit or a review of the financial statements of West Oak Investments Ltd. 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 financial statements. |
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Chartered Accountants & Business Advisers |
20 Havelock Road |
Hastings |
East Sussex |
TN34 1BP |
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