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REGISTERED NUMBER: 07954588 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Oakley Carpentry Limited

Oakley Carpentry Limited (Registered number: 07954588)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oakley Carpentry Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: A K Cocker
M Gunton





REGISTERED OFFICE: 11 Grange Road
Wickham Bishops
Witham
Essex
CM8 3LT





REGISTERED NUMBER: 07954588 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Oakley Carpentry Limited (Registered number: 07954588)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,743 50,324
Investment property 5 460,000 230,000
497,743 280,324

CURRENT ASSETS
Stocks - 133,506
Debtors 6 18,705 145,096
Cash at bank 1,073,548 799,285
1,092,253 1,077,887
CREDITORS
Amounts falling due within one year 7 78,673 46,018
NET CURRENT ASSETS 1,013,580 1,031,869
TOTAL ASSETS LESS CURRENT LIABILITIES 1,511,323 1,312,193

PROVISIONS FOR LIABILITIES 8 46,856 34,482
NET ASSETS 1,464,467 1,277,711

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 112,260 74,760
Retained earnings 1,352,107 1,202,851
SHAREHOLDERS' FUNDS 1,464,467 1,277,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Oakley Carpentry Limited (Registered number: 07954588)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





M Gunton - Director


Oakley Carpentry Limited (Registered number: 07954588)

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

1. STATUTORY INFORMATION

Oakley Carpentry 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

Investment property
Investment properties for which fair value can be measured reliably are measured at fair value annually with any change recognised in the profit and loss account.

It is the company's policy to transfer to the fair value reserve all non-distributable fair value movements recognised in the profit and loss account together with deferred taxation thereon.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Oakley Carpentry Limited (Registered number: 07954588)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

Finance lease and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of liability.

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.

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

Oakley Carpentry Limited (Registered number: 07954588)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. 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, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

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 the Statement of Comprehensive Income.

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 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 balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

Oakley Carpentry Limited (Registered number: 07954588)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 64,948
DEPRECIATION
At 1 July 2022 14,624
Charge for year 12,581
At 30 June 2023 27,205
NET BOOK VALUE
At 30 June 2023 37,743
At 30 June 2022 50,324

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 230,000
Additions 180,000
Revaluations 50,000
At 30 June 2023 460,000
NET BOOK VALUE
At 30 June 2023 460,000
At 30 June 2022 230,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2020 44,680
Valuation in 2022 55,000
Valuation in 2023 50,000
Cost 310,320
460,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 310,320 130,320

Investment property was valued on an open market basis on 30 June 2023 by the directors .

Oakley Carpentry Limited (Registered number: 07954588)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,825 12,100
Other debtors 7,880 132,996
18,705 145,096

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 75,873 42,393
Other creditors 2,800 3,625
78,673 46,018

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 9,436 9,562
Revaluation 37,420 24,920
46,856 34,482

Deferred
tax
£   
Balance at 1 July 2022 34,482
Charge to Income Statement during year 12,374
Balance at 30 June 2023 46,856

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

Oakley Carpentry Limited (Registered number: 07954588)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

10. RESERVES
Fair
value
reserve
£   
At 1 July 2022 74,760
Revaluation 50,000
Deferred tax (12,500 )

At 30 June 2023 112,260

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
A K Cocker
Balance outstanding at start of year 1,024 1,536
Amounts advanced 56,244 30,000
Amounts repaid (53,809 ) (30,512 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,459 1,024

M Gunton
Balance outstanding at start of year (955 ) (443 )
Amounts advanced 56,826 30,000
Amounts repaid (53,809 ) (30,512 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,062 (955 )