Registered number
10776455
Oak Ridge Engineering Ltd
Filleted Accounts
31 March 2023
Oak Ridge Engineering Ltd
Registered number: 10776455
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 25,332 20,496
Current assets
Stocks 190,394 40,394
Debtors 4 29,916 35,227
Cash at bank and in hand 30,649 9,034
250,959 84,655
Creditors: amounts falling due within one year 5 (225,592) (77,942)
Net current assets 25,367 6,713
Total assets less current liabilities 50,699 27,209
Creditors: amounts falling due after more than one year 6 (4,200) -
Provisions for liabilities (4,756) (3,894)
Net assets 41,743 23,315
Capital and reserves
Called up share capital 100 100
Profit and loss account 41,643 23,215
Shareholders' funds 41,743 23,315
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C McCormack
Director
Approved by the board on 19 March 2024
Oak Ridge Engineering Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% reducing balance
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 7,127 19,292 26,419
Additions 2,150 10,500 12,650
Disposals (1,500) - (1,500)
At 31 March 2023 7,777 29,792 37,569
Depreciation
At 1 April 2022 1,425 4,498 5,923
Charge for the year 1,555 5,059 6,614
On disposals (300) - (300)
At 31 March 2023 2,680 9,557 12,237
Net book value
At 31 March 2023 5,097 20,235 25,332
At 31 March 2022 5,702 14,794 20,496
4 Debtors 2023 2022
£ £
Trade debtors 8,411 4,790
Other debtors 21,505 30,437
29,916 35,227
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 3,150 -
Trade creditors 142,439 55,667
Taxation and social security costs 3,648 -
Other creditors 76,355 22,275
225,592 77,942
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 4,200 -
7 Loan from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr C McCormack
Loan from director 10,526 21,737 (29,867) 2,396
10,526 21,737 (29,867) 2,396
8 Controlling party
The company is controlled by the company director, Mr C McCormack.
9 Other information
Oak Ridge Engineering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Granary Wharf Business Park
Wetmore Road
Burton upon Trent
Staffordshire
DE14 1DU
Oak Ridge Engineering Ltd 10776455 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 Mr C McCormack No description of principal activity 10776455 2021-04-01 2022-03-31 10776455 core:WithinOneYear 2022-03-31 10776455 core:AfterOneYear 2022-03-31 10776455 core:ShareCapital 2022-03-31 10776455 core:RetainedEarningsAccumulatedLosses 2022-03-31 10776455 2022-04-01 2023-03-31 10776455 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10776455 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10776455 bus:Director40 2022-04-01 2023-03-31 10776455 1 2022-04-01 2023-03-31 10776455 2 2022-04-01 2023-03-31 10776455 core:PlantMachinery 2022-04-01 2023-03-31 10776455 core:Vehicles 2022-04-01 2023-03-31 10776455 bus:Director1 2022-04-01 2023-03-31 10776455 bus:Director1 1 2022-04-01 2023-03-31 10776455 countries:England 2022-04-01 2023-03-31 10776455 bus:FRS102 2022-04-01 2023-03-31 10776455 bus:FullAccounts 2022-04-01 2023-03-31 10776455 2023-03-31 10776455 core:WithinOneYear 2023-03-31 10776455 core:AfterOneYear 2023-03-31 10776455 core:ShareCapital 2023-03-31 10776455 core:RetainedEarningsAccumulatedLosses 2023-03-31 10776455 core:PlantMachinery 2023-03-31 10776455 core:Vehicles 2023-03-31 10776455 bus:Director1 1 2023-03-31 10776455 2022-03-31 10776455 core:PlantMachinery 2022-03-31 10776455 core:Vehicles 2022-03-31 10776455 bus:Director1 1 2022-03-31 iso4217:GBP xbrli:pure