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REGISTERED NUMBER: 04788850 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st July 2023

for

Oaks Services Limited

Oaks Services Limited (Registered number: 04788850)

Contents of the Financial Statements
for the Year Ended 31st July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oaks Services Limited

Company Information
for the Year Ended 31st July 2023







DIRECTORS: M J Hayter
A Hayter





REGISTERED OFFICE: Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT





REGISTERED NUMBER: 04788850 (England and Wales)





ACCOUNTANTS: Whiteleys
Chartered Certified Accountants
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

Oaks Services Limited (Registered number: 04788850)

Balance Sheet
31st July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 250
Tangible assets 6 74,101 72,478
74,101 72,728

CURRENT ASSETS
Stocks 1,825 1,900
Debtors 7 6,123 13,769
Cash at bank and in hand 93,707 52,070
101,655 67,739
CREDITORS
Amounts falling due within one year 8 113,263 72,551
NET CURRENT LIABILITIES (11,608 ) (4,812 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

62,493

67,916

CREDITORS
Amounts falling due after more than one
year

9

(22,772

)

(49,745

)

PROVISIONS FOR LIABILITIES (9,276 ) (5,676 )
NET ASSETS 30,445 12,495

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 30,443 12,493
SHAREHOLDERS' FUNDS 30,445 12,495

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Oaks Services Limited (Registered number: 04788850)

Balance Sheet - continued
31st July 2023


The 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th October 2023 and were signed on its behalf by:





M J Hayter - Director


Oaks Services Limited (Registered number: 04788850)

Notes to the Financial Statements
for the Year Ended 31st July 2023


1. STATUTORY INFORMATION

Oaks Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company’s interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over it's useful life which is estimated to be 10 years.

Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual valaue assumed to be zero, over its useful economic life.

Goodwill amortisation is included in administrative expenses in the statement of comprehensive income.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Plant and machinery-20% on cost
Fixtures and fittings-20% on cost
Motor vehicles-10% on cost
Office equipment-33% on cost

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Oaks Services Limited (Registered number: 04788850)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023


3. ACCOUNTING POLICIES - continued

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Taxation
Taxation for the year 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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.

The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments.

Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

Operating lease payments are recognised as an expense on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Oaks Services Limited (Registered number: 04788850)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Oaks Services Limited (Registered number: 04788850)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2022
and 31st July 2023 5,000
AMORTISATION
At 1st August 2022 4,750
Amortisation for year 250
At 31st July 2023 5,000
NET BOOK VALUE
At 31st July 2023 -
At 31st July 2022 250

6. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st August 2022 56,100 53,831 10,863
Additions - 12,394 -
Disposals - - -
At 31st July 2023 56,100 66,225 10,863
DEPRECIATION
At 1st August 2022 13,493 49,081 10,863
Charge for year 5,610 4,062 -
Eliminated on disposal - - -
At 31st July 2023 19,103 53,143 10,863
NET BOOK VALUE
At 31st July 2023 36,997 13,082 -
At 31st July 2022 42,607 4,750 -

Oaks Services Limited (Registered number: 04788850)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023


6. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1st August 2022 75,170 10,482 206,446
Additions 25,484 - 37,878
Disposals (29,834 ) (6,821 ) (36,655 )
At 31st July 2023 70,820 3,661 207,669
DEPRECIATION
At 1st August 2022 50,049 10,482 133,968
Charge for year 2,716 - 12,388
Eliminated on disposal (5,967 ) (6,821 ) (12,788 )
At 31st July 2023 46,798 3,661 133,568
NET BOOK VALUE
At 31st July 2023 24,022 - 74,101
At 31st July 2022 25,121 - 72,478

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1st August 2022 31,413 5,700 37,113
Additions 25,484 - 25,484
Disposals (29,834 ) (5,700 ) (35,534 )
At 31st July 2023 27,063 - 27,063
DEPRECIATION
At 1st August 2022 6,362 5,700 12,062
Charge for year 2,706 - 2,706
Eliminated on disposal (5,967 ) (5,700 ) (11,667 )
At 31st July 2023 3,101 - 3,101
NET BOOK VALUE
At 31st July 2023 23,962 - 23,962
At 31st July 2022 25,051 - 25,051

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,835 13,355
Other debtors 288 414
6,123 13,769

Oaks Services Limited (Registered number: 04788850)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 23,838 9,770
Hire purchase contracts 5,137 6,944
Trade creditors 34,117 18,902
Taxation and social security 32,195 26,021
Other creditors 17,976 10,914
113,263 72,551

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 29,824
Hire purchase contracts 22,772 19,921
22,772 49,745