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REGISTERED NUMBER: 07104145 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

OAK GATE JOINERY LIMITED

OAK GATE JOINERY LIMITED (REGISTERED NUMBER: 07104145)






Contents of the Financial Statements
for the year ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OAK GATE JOINERY LIMITED

Company Information
for the year ended 31 DECEMBER 2023







DIRECTORS: A M Collier
C E Sowerby





REGISTERED OFFICE: 155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB





REGISTERED NUMBER: 07104145 (England and Wales)





ACCOUNTANT: Elsby & Co
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB

OAK GATE JOINERY LIMITED (REGISTERED NUMBER: 07104145)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,667 22,049

CURRENT ASSETS
Stocks 43,200 59,468
Debtors 5 3,273 4,670
Cash at bank 35,166 -
81,639 64,138
CREDITORS
Amounts falling due within one year 6 57,873 60,693
NET CURRENT ASSETS 23,766 3,445
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,433

25,494

CREDITORS
Amounts falling due after more than one year 7 (12,748 ) (20,949 )

PROVISIONS FOR LIABILITIES (4,053 ) (3,835 )
NET ASSETS 25,632 710

CAPITAL AND RESERVES
Called up share capital 8 6 6
Retained earnings 25,626 704
SHAREHOLDERS' FUNDS 25,632 710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

OAK GATE JOINERY LIMITED (REGISTERED NUMBER: 07104145)

Balance Sheet - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by:





A M Collier - Director


OAK GATE JOINERY LIMITED (REGISTERED NUMBER: 07104145)

Notes to the Financial Statements
for the year ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Oak Gate Joinery 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

OAK GATE JOINERY LIMITED (REGISTERED NUMBER: 07104145)

Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 7,637 37,843 6,416 5,858 57,754
DEPRECIATION
At 1 January 2023 - 29,494 2,500 3,711 35,705
Charge for year - 2,087 587 708 3,382
At 31 December 2023 - 31,581 3,087 4,419 39,087
NET BOOK VALUE
At 31 December 2023 7,637 6,262 3,329 1,439 18,667
At 31 December 2022 7,637 8,349 3,916 2,147 22,049

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 324 3,148
Other debtors 2,949 1,522
3,273 4,670

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,584 12,617
Trade creditors 1,329 9,600
Taxation and social security 40,192 11,389
Other creditors 7,768 27,087
57,873 60,693

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 12,748 20,949

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
6 Ordinary 1 6 6

OAK GATE JOINERY LIMITED (REGISTERED NUMBER: 07104145)

Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2023

9. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 49,317 49,317

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
A M Collier
Balance outstanding at start of year (25,210 ) (4,403 )
Amounts advanced 34,270 5,090
Amounts repaid (9,416 ) (25,897 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (356 ) (25,210 )