Notes to the financial statements
For the period ended 28 February 2023
Oakden Investments Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office address is Third Floor, 20 Old Bailey, London, United Kingdom, EC4M 7AN and its registered number is 13918025.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The following principal accounting policies have been applied:
At the reporting date, the company's liabilities exceeded its assets. The company has received assurance from the shareholder that he will continue to give financial support to the company for a period of at least
twelve months from the date of approval of these financial statements, sufficient to enable the company to
meet its liabilities as and when they fall due for the foreseeable future and defer repayment of any amounts
owed to him in favour of other creditors.
On this basis the director considers it appropriate to prepare the financial statements on a going concern
basis. However should the financial support mentioned above not be forthcoming, the going concern basis
used in preparing the company's financial statements may be invalid and adjustments would have to be
made necessary should this basis not continue to be appropriate.
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.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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