Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-313632false2021-04-01No description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10170940 2021-04-01 2022-03-31 10170940 2020-04-01 2021-03-31 10170940 2022-03-31 10170940 2021-03-31 10170940 c:Director1 2021-04-01 2022-03-31 10170940 c:Director2 2021-04-01 2022-03-31 10170940 d:FurnitureFittings 2021-04-01 2022-03-31 10170940 d:FurnitureFittings 2022-03-31 10170940 d:FurnitureFittings 2021-03-31 10170940 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 10170940 d:OfficeEquipment 2021-04-01 2022-03-31 10170940 d:OfficeEquipment 2022-03-31 10170940 d:OfficeEquipment 2021-03-31 10170940 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 10170940 d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 10170940 d:CurrentFinancialInstruments 2022-03-31 10170940 d:CurrentFinancialInstruments 2021-03-31 10170940 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10170940 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 10170940 d:ShareCapital 2022-03-31 10170940 d:ShareCapital 2021-03-31 10170940 d:SharePremium 2022-03-31 10170940 d:SharePremium 2021-03-31 10170940 d:CapitalRedemptionReserve 2021-04-01 2022-03-31 10170940 d:CapitalRedemptionReserve 2022-03-31 10170940 d:CapitalRedemptionReserve 2021-03-31 10170940 d:RetainedEarningsAccumulatedLosses 2022-03-31 10170940 d:RetainedEarningsAccumulatedLosses 2021-03-31 10170940 c:OrdinaryShareClass1 2021-04-01 2022-03-31 10170940 c:OrdinaryShareClass1 2022-03-31 10170940 c:OrdinaryShareClass1 2021-03-31 10170940 c:OrdinaryShareClass2 2021-04-01 2022-03-31 10170940 c:OrdinaryShareClass2 2022-03-31 10170940 c:OrdinaryShareClass2 2021-03-31 10170940 c:FRS102 2021-04-01 2022-03-31 10170940 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 10170940 c:FullAccounts 2021-04-01 2022-03-31 10170940 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 10170940 2 2021-04-01 2022-03-31 10170940 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 10170940 d:AcceleratedTaxDepreciationDeferredTax 2021-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10170940










OAKSMERE DESIGN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

 
OAKSMERE DESIGN LIMITED
REGISTERED NUMBER: 10170940

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
18,742
24,237

  
18,742
24,237

Current assets
  

Debtors: amounts falling due within one year
 5 
1,119,590
169,454

Cash at bank and in hand
  
1,289,264
1,498,818

  
2,408,854
1,668,272

Creditors: amounts falling due within one year
 6 
(1,957,533)
(1,139,683)

Net current assets
  
 
 
451,321
 
 
528,589

Total assets less current liabilities
  
470,063
552,826

Provisions for liabilities
  

Deferred tax
 7 
(1,044)
(1,874)

  
 
 
(1,044)
 
 
(1,874)

Net assets
  
469,019
550,952


Capital and reserves
  

Called up share capital 
 8 
94,003
100,003

Share premium account
  
19,000
22,000

Capital redemption reserve
  
6,000
-

Profit and loss account
  
350,016
428,949

  
469,019
550,952


Page 1

 
OAKSMERE DESIGN LIMITED
REGISTERED NUMBER: 10170940
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr C Hawes
................................................
Mr P Blanch
Director
Director


Date: 8 August 2022

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
OAKSMERE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

Oaksmere Design Limited is a private company limited by shares and incorporated in England and Wales, registration number 10170940.  The company's registered office address is 1 Three Rivers Business Centre, Felixstowe Road, Foxhall, Ipswich, Suffolk, England, IP10 0BF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have considered the Company’s position at the time of signing the financial statements, and in particular the current issues caused by Covid-19 and its potential impact on the Company and the wider economy. As such under the current circumstances, it is difficult to produce meaningful forecasts for the remainder of the financial year and medium term. Nevertheless, the Directors have considered the current financial strength of the Company, together with the range of measures the Directors can take to mitigate ongoing costs should they need to.
Based on this, the Directors have concluded that they have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future, and, based on the economic environment recovering within the timeframe currently being widely anticipated, at least twelve months from the date of signing these financial statements, they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
OAKSMERE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
OAKSMERE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing Balance
Office equipment
-
33%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
OAKSMERE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Page 6

 
OAKSMERE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2021 - 32).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2021
5,821
71,233
77,054


Additions
-
9,836
9,836



At 31 March 2022

5,821
81,069
86,890



Depreciation


At 1 April 2021
2,852
49,965
52,817


Charge for the year on owned assets
743
14,588
15,331



At 31 March 2022

3,595
64,553
68,148



Net book value



At 31 March 2022
2,226
16,516
18,742



At 31 March 2021
2,969
21,268
24,237

Page 7

 
OAKSMERE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

5.


Debtors

2022
2021
£
£


Trade debtors
1,026,637
164,016

Other debtors
84,724
5,435

Called up share capital not paid
-
3

Prepayments and accrued income
8,229
-

1,119,590
169,454



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
617,538
124,337

Corporation tax
73,344
123,518

Other taxation and social security
369,994
310,198

Other creditors
267,177
135,072

Accruals and deferred income
629,480
446,558

1,957,533
1,139,683


Page 8

 
OAKSMERE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

7.


Deferred taxation




2022


£






At beginning of year
(1,874)


Charged to profit or loss
830



At end of year
(1,044)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(1,044)
(1,874)

(1,044)
(1,874)


8.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



75,003 (2021 - 75,003) A Ordinary shares of £1 each
75,003
75,003
19,000 (2021 - 25,000) B Ordinary shares of £1 each
19,000
25,000

94,003

100,003

On 22 July 2021, 3,000 B Ordinary shares held in treasury were cancelled. 
On 28 July 2021, a further 3,000 B Ordinary shares were repurchased by the company for £2 per share. These shares were then cancelled.
 



9.


Reserves

Capital redemption reserve

The capital redemption reserve represents the fair value of own shares purchased less the nominal value of the shares. Any transaction costs associated with the purchase of own shares are deducted from the capital redemption reserve.

 
Page 9