Company Registration No. 08387775 (England and Wales)
OAKVIEW CARS LIMITED
Unaudited accounts
for the year ended 28 February 2023
OAKVIEW CARS LIMITED
Unaudited accounts
Contents
OAKVIEW CARS LIMITED
Company Information
for the year ended 28 February 2023
Company Number
08387775 (England and Wales)
Registered Office
UNIT 1, BASINGSTOKE RAILWAY
STATION HILL
BASINGSTOKE
RG21 5NE
Accountants
SUBLIME CONSULTING LTD
INYANGA
MORRIS STREET
HOOK
RG27 9NS
OAKVIEW CARS LIMITED
Statement of financial position
as at 28 February 2023
Intangible assets
166,000
193,000
Tangible assets
793,814
387,119
Cash at bank and in hand
108,117
81,231
Creditors: amounts falling due within one year
(1,187,527)
(1,020,789)
Net current liabilities
(857,469)
(731,947)
Total assets less current liabilities
102,345
(151,828)
Creditors: amounts falling due after more than one year
-
(116,184)
Net assets/(liabilities)
102,345
(268,012)
Called up share capital
5
5
Profit and loss account
102,340
(268,017)
Shareholders' funds
102,345
(268,012)
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2023 and were signed on its behalf by
MR SHAID KHALIQ
Director
Company Registration No. 08387775
OAKVIEW CARS LIMITED
Notes to the Accounts
for the year ended 28 February 2023
OAKVIEW CARS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08387775. The registered office is UNIT 1, BASINGSTOKE RAILWAY , STATION HILL, BASINGSTOKE, RG21 5NE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
At 28 February 2023
270,000
Charge for the year
27,000
At 28 February 2023
104,000
At 28 February 2023
166,000
At 28 February 2022
193,000
OAKVIEW CARS LIMITED
Notes to the Accounts
for the year ended 28 February 2023
5
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2022
812,651
14,172
826,823
Additions
878,848
-
878,848
Disposals
(568,435)
-
(568,435)
At 28 February 2023
1,123,064
14,172
1,137,236
At 1 March 2022
430,016
9,688
439,704
Charge for the year
197,489
1,121
198,610
On disposals
(294,892)
-
(294,892)
At 28 February 2023
332,613
10,809
343,422
At 28 February 2023
790,451
3,363
793,814
At 28 February 2022
382,635
4,484
387,119
Amounts falling due within one year
Trade debtors
221,941
185,152
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
30,846
-
Obligations under finance leases and hire purchase contracts
912,606
210,910
Trade creditors
91,086
88,064
Taxes and social security
11,520
171,417
Loans from directors
64,473
251,212
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
-
74,242
9
Average number of employees
During the year the average number of employees was 15 (2022: 15).