Registered number
11794363
OAK3 Limited
Filleted Accounts
31 October 2023
Gray & Company Partners Ltd
Chartered Certified Accountants & Registered Auditors
Greensleeves House
Highfield
Banstead
Surrey
SM7 3LJ
OAK3 Limited
Registered number: 11794363
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 791 1,581
Current assets
Stocks - 129,561
Debtors 4 28,649 32,675
Cash at bank and in hand 6,468 20,184
35,117 182,420
Creditors: amounts falling due within one year 5 (28,531) (99,822)
Net current assets 6,586 82,598
Total assets less current liabilities 7,377 84,179
Creditors: amounts falling due after more than one year 6 - (42,680)
Provisions for liabilities (150) (300)
Net assets 7,227 41,199
Capital and reserves
Called up share capital 100 100
Profit and loss account 7,127 41,099
Shareholders' funds 7,227 41,199
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.
D.Crowe
Director
Approved by the board on 20 November 2023
OAK3 Limited
Notes to the Accounts
for the year ended 31 October 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and 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 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 3,161
At 31 October 2023 3,161
Depreciation
At 1 November 2022 1,580
Charge for the year 790
At 31 October 2023 2,370
Net book value
At 31 October 2023 791
At 31 October 2022 1,581
4 Debtors 2023 2022
£ £
Trade debtors 600 13,875
Other debtors 28,049 18,800
28,649 32,675
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 76,674
Taxation and social security costs - 14,400
Other creditors 28,531 8,748
28,531 99,822
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors - 42,680
7 Other information
OAK3 Limited is a private company limited by shares and incorporated in England. Its registered office is:
26 Cherry Orchard Road
Bromley
Kent
BR2 8NE
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