Registered number
12091487
Oaken Limited
Filleted Accounts
30 June 2023
Oaken Limited
Registered number: 12091487
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 96 144
Current assets
Debtors 4 835,873 600,443
Cash at bank and in hand 542,850 91,895
1,378,723 692,338
Creditors: amounts falling due within one year 5 (594,355) (472,289)
Net current assets 784,368 220,049
Total assets less current liabilities 784,464 220,193
Creditors: amounts falling due after more than one year 6 (20,753) (30,493)
Provisions for liabilities (24) -
Net assets 763,687 189,700
Capital and reserves
Called up share capital 3 3
Profit and loss account 763,684 189,697
Shareholders' funds 763,687 189,700
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Smith
Director
Approved by the board on 5 October 2023
Oaken Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover comprises the sale of one refurbished property in 2021/22 and a share in a joint venture of a completed development in 2022/23.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 240
At 30 June 2023 240
Depreciation
At 1 July 2022 96
Charge for the year 48
At 30 June 2023 144
Net book value
At 30 June 2023 96
At 30 June 2022 144
4 Debtors 2023 2022
£ £
Other debtors 835,873 600,443
Amounts due after more than one year included above - 600,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 1,170 5,424
Taxation and social security costs 148,236 21,915
Other creditors 434,949 434,950
594,355 472,289
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 20,753 30,493
7 Controlling party
The company is controlled by KJ Kilford, L Smith and Y Watt.
8 Other information
Oaken Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Ringwood Road
Walkford
Christchurch
Dorset
BH23 5RD
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