Company Registration No. 03746919 (England and Wales)
Oakleaf Heating Ltd.
Unaudited accounts
for the year ended 31 August 2023
Oakleaf Heating Ltd.
Unaudited accounts
Contents
Oakleaf Heating Ltd.
Company Information
for the year ended 31 August 2023
Directors
Graham Bagley
Peter Harding
James Miller
Ross St John
Company Number
03746919 (England and Wales)
Oakleaf Heating Ltd.
Statement of financial position
as at 31 August 2023
Tangible assets
35,738
45,488
Cash at bank and in hand
373,459
251,923
Creditors: amounts falling due within one year
(500,759)
(448,983)
Net current assets
45,419
31,787
Total assets less current liabilities
81,157
77,275
Creditors: amounts falling due after more than one year
(16,946)
(21,792)
Provisions for liabilities
Deferred tax
(3,475)
(3,475)
Called up share capital
290
290
Profit and loss account
60,446
51,718
Shareholders' funds
60,736
52,008
For the year ending 31 August 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 28 February 2024 and were signed on its behalf by
Peter Harding
Director
Company Registration No. 03746919
Oakleaf Heating Ltd.
Notes to the Accounts
for the year ended 31 August 2023
Oakleaf Heating Ltd. is a private company, limited by shares, registered in England and Wales, registration number 03746919.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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.
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Oakleaf Heating Ltd.
Notes to the Accounts
for the year ended 31 August 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 September 2022
5,411
110,377
115,788
At 31 August 2023
5,411
110,377
115,788
At 1 September 2022
3,033
67,267
70,300
Charge for the year
750
9,000
9,750
At 31 August 2023
3,783
76,267
80,050
At 31 August 2023
1,628
34,110
35,738
At 31 August 2022
2,378
43,110
45,488
Amounts falling due within one year
Trade debtors
172,619
222,161
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
26,745
43,665
Taxes and social security
41,913
35,448
Other creditors
402,288
341,644
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
16,946
21,792
Oakleaf Heating Ltd.
Notes to the Accounts
for the year ended 31 August 2023
8
Average number of employees
During the year the average number of employees was 6 (2022: 6).