OCL Carpentry (UK) Limited 05863346 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is carpentry and construction. Digita Accounts Production Advanced 6.30.9574.0 true true 05863346 2022-07-01 2023-06-30 05863346 2023-06-30 05863346 bus:Director1 1 2023-06-30 05863346 core:CurrentFinancialInstruments 2023-06-30 05863346 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 05863346 core:Non-currentFinancialInstruments 2023-06-30 05863346 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 05863346 core:FurnitureFittingsToolsEquipment 2023-06-30 05863346 core:OtherPropertyPlantEquipment 2023-06-30 05863346 core:OtherRelatedParties 2023-06-30 05863346 bus:SmallEntities 2022-07-01 2023-06-30 05863346 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 05863346 bus:FullAccounts 2022-07-01 2023-06-30 05863346 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 05863346 bus:RegisteredOffice 2022-07-01 2023-06-30 05863346 bus:Director1 2022-07-01 2023-06-30 05863346 bus:Director1 1 2022-07-01 2023-06-30 05863346 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05863346 core:FurnitureFittings 2022-07-01 2023-06-30 05863346 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 05863346 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 05863346 core:PlantMachinery 2022-07-01 2023-06-30 05863346 core:OtherRelatedParties 2022-07-01 2023-06-30 05863346 countries:EnglandWales 2022-07-01 2023-06-30 05863346 2022-06-30 05863346 bus:Director1 1 2022-06-30 05863346 core:FurnitureFittingsToolsEquipment 2022-06-30 05863346 core:OtherPropertyPlantEquipment 2022-06-30 05863346 core:OtherRelatedParties 2022-06-30 05863346 2021-07-01 2022-06-30 05863346 2022-06-30 05863346 bus:Director1 1 2022-06-30 05863346 core:CurrentFinancialInstruments 2022-06-30 05863346 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 05863346 core:Non-currentFinancialInstruments 2022-06-30 05863346 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 05863346 core:OtherRelatedParties 2022-06-30 05863346 bus:Director1 1 2021-07-01 2022-06-30 05863346 core:OtherRelatedParties 2021-07-01 2022-06-30 05863346 bus:Director1 1 2021-06-30 iso4217:GBP xbrli:pure

Registration number: 05863346

OCL Carpentry (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

OCL Carpentry (UK) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

OCL Carpentry (UK) Limited

Company Information

Director

Mr K Burt

Registered office

Fawley House
2 Marlow Road
Bourne End
Bucks
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Marlow Road
Bourne End
Bucks
SL8 5TD

 

OCL Carpentry (UK) Limited

(Registration number: 05863346)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

116,481

115,530

Creditors: Amounts falling due within one year

6

(83,247)

(79,741)

Total assets less current liabilities

 

33,234

35,789

Creditors: Amounts falling due after more than one year

6

(102,541)

(100,609)

Net liabilities

 

(69,307)

(64,820)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(69,407)

(64,920)

Shareholders' deficit

 

(69,307)

(64,820)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 November 2023
 

Mr K Burt
Director

 

OCL Carpentry (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House
2 Marlow Road
Bourne End
Bucks
SL8 5TD
England

These financial statements were authorised for issue by the director on 9 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company made a loss for the financial year and the balance sheet at the year end date shows an insolvent position. However, the director of the company has arranged adequate funding to finance the company's continuing activities and enable it to pay its debts as and when they fall due for payment. The director of the company considers that the company is a going concern and thus the financial statements have been prepared on this basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

 

OCL Carpentry (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tax

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

15% - 25% on reducing balance

Plant and machinery

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

 

OCL Carpentry (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

 

OCL Carpentry (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2022

7,777

2,763

10,540

Disposals

(7,777)

(2,763)

(10,540)

At 30 June 2023

-

-

-

Depreciation

At 1 July 2022

7,777

2,763

10,540

Eliminated on disposal

(7,777)

(2,763)

(10,540)

At 30 June 2023

-

-

-

Carrying amount

At 30 June 2023

-

-

-

5

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

8

81,313

79,719

Other debtors

 

35,168

35,811

 

116,481

115,530

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

8

22,449

21,089

Taxation and social security

 

27,379

26,311

Corporation tax

 

33,419

32,341

 

83,247

79,741

 

OCL Carpentry (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

102,541

100,609

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

102,541

100,609

8

Related party transactions

Transactions with the director

2023

At 1 July 2022
£

Advances to director
£

At 30 June 2023
£

Mr K Burt

Advance

79,719

1,594

81,313

       
     

 

2022

At 1 July 2021
£

Advances to director
£

Repayments by director
£

At 30 June 2022
£

Mr K Burt

Advance

81,698

120,277

(122,256)

79,719

         
       

 

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

21,089

21,089

Advanced

1,360

1,360

At end of period

22,449

22,449

2022

Other related parties
£

Total
£

Advanced

21,089

21,089

At end of period

21,089

21,089

 

OCL Carpentry (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Terms of loans from related parties

Loan is unsceured, interest free and repayable on demand..