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Company Registration No. 1917693 (England and Wales)
Oakes Tools Limited Unaudited accounts for the year ended 31 December 2023
Oakes Tools Limited Unaudited accounts Contents
Page
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Oakes Tools Limited Company Information for the year ended 31 December 2023
Directors
R F smith Mrs V J Smith J P Smith
Secretary
Mrs V J smith
Company Number
1917693 (England and Wales)
Registered Office
36 Ballmoor Buckingham Industrial Park Buckingham Buckinghamshire MK18 1RQ England
Accountants
Anthistle Craven Moreton House 31 High Street Buckingham Bucks MK18 1NU
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Oakes Tools Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
30,494 
31,515 
Debtors
51,476 
44,354 
Cash at bank and in hand
11,319 
13,785 
93,289 
89,654 
Creditors: amounts falling due within one year
(7,614)
(7,623)
Net current assets
85,675 
82,031 
Net assets
85,675 
82,031 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
85,575 
81,931 
Shareholders' funds
85,675 
82,031 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by
J P Smith Director Company Registration No. 1917693
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Oakes Tools Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Oakes Tools Limited is a private company, limited by shares, registered in England and Wales, registration number 1917693. The registered office is 36 Ballmoor, Buckingham Industrial Park, Buckingham, Buckinghamshire, MK18 1RQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
41,476 
44,354 
Other debtors
10,000 
- 
51,476 
44,354 
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Oakes Tools Limited Notes to the Accounts for the year ended 31 December 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
1,637 
989 
Trade creditors
4,622 
5,567 
Taxes and social security
855 
567 
Accruals
500 
500 
7,614 
7,623 
6
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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