1 January 2021 v2022.13.1 limited_company_frs_102_section_1a_v1_0_8 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP027485222021-01-012022-04-30027485222022-04-30027485222020-12-3102748522core:WithinOneYear2022-04-3002748522core:WithinOneYear2020-12-3102748522core:ShareCapital2022-04-3002748522core:ShareCapital2020-12-3102748522core:RetainedEarningsAccumulatedLosses2022-04-3002748522core:RetainedEarningsAccumulatedLosses2020-12-3102748522bus:Director12021-01-012022-04-3002748522bus:RegisteredOffice2021-01-012022-04-3002748522core:PlantMachinery2021-01-012022-04-3002748522core:MotorVehicles2021-01-012022-04-3002748522core:OfficeEquipment2021-01-012022-04-30027485222020-01-012020-12-3102748522core:PlantMachinery2021-01-0102748522core:PlantMachinery2020-12-310274852212021-01-012022-04-3002748522countries:EnglandWales2021-01-012022-04-3002748522bus:AuditExemptWithAccountantsReport2021-01-012022-04-3002748522bus:PrivateLimitedCompanyLtd2021-01-012022-04-3002748522bus:SmallEntities2021-01-012022-04-3002748522bus:FullAccounts2021-01-012022-04-30
Company registration number:
02748522
Oakside Construction Ltd.
Unaudited Filleted Financial Statements for the period ended
30 April 2022
BRIAN PAUL LIMITED
Chartered Accountants
Chase Green House, 42 Chase Side, Enfield, Middlesex, EN2 6NF, United Kingdom
Oakside Construction Ltd.
Statement of Financial Position
30 April 2022
30 Apr 202231 Dec 2020
Note££
Fixed assets    
Tangible assets 5 -  
14,802
 
Current assets    
Debtors 6
6,371
 
53,017
 
Cash at bank and in hand
57,178
 
57,060
 
63,549
 
110,077
 
Creditors: amounts falling due within one year 7
(87,835
)
(61,897
)
Net current (liabilities)/assets
(24,286
)
48,180
 
Total assets less current liabilities (24,286 ) 62,982  
Provisions for liabilities -  
(2,812
)
Net (liabilities)/assets
(24,286
)
60,170
 
Capital and reserves    
Called up share capital
100,000
 
100,000
 
Profit and loss account
(124,286
)
(39,830
)
Shareholders (deficit)/funds
(24,286
)
60,170
 
For the period ending
30 April 2022
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
2 September 2022
, and are signed on behalf of the board by:
A Stratford
Director
Company registration number:
02748522
Oakside Construction Ltd.
Notes to the Financial Statements
Period ended
30 April 2022

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
The Building Centre
,
26 Store Street
,
London
,
WC1E 7BT
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance
Office equipment
33% straight line

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.
Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.
The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

Rent payable under operating leases are charged against income on a straight line basis over the lease term.

4 Average number of employees

The average number of persons employed by the company during the period was
2
(2020:
2.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2021
36,891
 
Additions
488
 
Disposals
(37,379
)
At
30 April 2022
-  
Depreciation  
At
1 January 2021
22,089
 
Charge
3,718
 
Disposals
(25,807
)
At
30 April 2022
-  
Carrying amount  
At
30 April 2022
-  
At 31 December 2020
14,802
 

6 Debtors

30 Apr 202231 Dec 2020
££
Trade debtors
4,481
 
32,417
 
Other debtors
1,890
 
20,600
 
6,371
 
53,017
 

7 Creditors: amounts falling due within one year

30 Apr 202231 Dec 2020
££
Bank loans and overdrafts
50,000
 
1,283
 
Trade creditors
16,553
 
15,926
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
12,300
 
12,300
 
Taxation and social security
7,132
 
2,901
 
Other creditors
1,850
 
29,487
 
87,835
 
61,897
 

8 Guarantees and other financial commitments

Operating leases: The company as lessee. Not later than 1 year £Nil (2020: £32,520).

9 Directors' advances, credit and guarantees

At 30th April 2022 the directors owed to the company £1,890 (2020: £Nil). No interest is charged on the loan. The loan is repayable on demand.

11 Controlling party

The company is a fully owned subsidiary of Oakside Holdings Limited, a company incorporated in England and Wales owning 100% of the issued share capital. A Stratford and M Spencer, both directors of Oakside Holdings Limited, each hold 50% of the issued share capital of the holding company. Correspondingly there is no one ultimate controlling party.