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Registration number: 07290749

Oak Ridge Associates Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Oak Ridge Associates Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Oak Ridge Associates Limited

Company Information

Director

Dr Norma Wood

Registered office

The Centre
Reading Road
Eversley Centre
Hampshire
RG27 0NB

Accountants

David Jones & Co 2018 Limited
Accountants
The Centre
Reading Road
Eversley Centre
Hampshire
RG27 0NB

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Oak Ridge Associates Limited
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oak Ridge Associates Limited for the year ended 30 June 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As the main director is a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Oak Ridge Associates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Oak Ridge Associates Limited and state those matters that we have agreed to state to the Board of Directors of Oak Ridge Associates Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oak Ridge Associates Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Oak Ridge Associates Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Oak Ridge Associates Limited. You consider that Oak Ridge Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Oak Ridge Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

David Jones & Co 2018 Limited
Accountants
The Centre
Reading Road
Eversley Centre
Hampshire
RG27 0NB

13 March 2024

 

Oak Ridge Associates Limited

(Registration number: 07290749)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

23,607

23,487

Current assets

 

Debtors

5

2,613

3,930

Cash at bank and in hand

 

3,656

24,168

 

6,269

28,098

Creditors: Amounts falling due within one year

6

(5,991)

(20,721)

Net current assets

 

278

7,377

Total assets less current liabilities

 

23,885

30,864

Provisions for liabilities

(4,485)

(4,536)

Net assets

 

19,400

26,328

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

19,399

26,327

Shareholders' funds

 

19,400

26,328

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 March 2024
 

.........................................
Dr Norma Wood
Director

 

Oak Ridge Associates Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Centre
Reading Road
Eversley Centre
Hampshire
RG27 0NB

These financial statements were authorised for issue by the director on 13 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Oak Ridge Associates Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance method

Motor vehicles

25% reducing balance method

Computer and office equipment

25% straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Oak Ridge Associates Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Oak Ridge Associates Limited

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

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

43,140

9,995

32,458

85,593

Additions

6,947

1,934

-

8,881

At 30 June 2023

50,087

11,929

32,458

94,474

Depreciation

At 1 July 2022

36,219

3,699

22,188

62,106

Charge for the year

3,467

2,726

2,568

8,761

At 30 June 2023

39,686

6,425

24,756

70,867

Carrying amount

At 30 June 2023

10,401

5,504

7,702

23,607

At 30 June 2022

6,921

6,296

10,270

23,487

5

Debtors

2023
£

2022
£

Other debtors

2,613

3,930

2,613

3,930

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

2,199

14,299

Accruals and deferred income

1,800

2,400

Other creditors

1,992

4,022

5,991

20,721

 

Oak Ridge Associates Limited

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

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1