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Registration number: 11461876

Enville Oak Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 July 2023

 

Enville Oak Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Balance Sheet

4 to 5

Notes to the Unaudited Abridged Financial Statements

6 to 10

 

Enville Oak Ltd

Company Information

Director

Mr Benjamin Turley

Company secretary

Rose McMahon

Registered office

5 Parsons Street
Dudley
West Midlands
DY1 1JJ

Accountants

Walker Hubble
5 Parsons Street
Dudley
West Midlands
DY1 1JJ

 

Enville Oak Ltd

Director's Report for the Year Ended 31 July 2023

The director presents his report and the abridged financial statements for the year ended 31 July 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Ben Fern (ceased 4 March 2024)

Mr Benjamin Turley

Principal activity

The principal activity of the company is manufacture of bespoke oak framed buildings

Small companies provision statement

This report has 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.

Approved and authorised by the director on 10 April 2024
 

.........................................
Mr Benjamin Turley
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Enville Oak Ltd
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Enville Oak Ltd for the year ended 31 July 2023 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Enville Oak Ltd, as a body, in accordance with the terms of our engagement letter dated 24 September 2018. Our work has been undertaken solely to prepare for your approval the accounts of Enville Oak Ltd and state those matters that we have agreed to state to the Board of Directors of Enville Oak Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Enville Oak Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Enville Oak Ltd 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 Enville Oak Ltd. You consider that Enville Oak Ltd 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 Enville Oak Ltd. 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.

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

Walker Hubble
5 Parsons Street
Dudley
West Midlands
DY1 1JJ

10 April 2024

 

Enville Oak Ltd

(Registration number: 11461876)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

51,545

65,265

Current assets

 

Stocks

6

239,714

248,741

Debtors

31,567

1,207

Cash at bank and in hand

 

51,524

68,245

 

322,805

318,193

Creditors: Amounts falling due within one year

(213,784)

(203,526)

Net current assets

 

109,021

114,667

Total assets less current liabilities

 

160,566

179,932

Creditors: Amounts falling due after more than one year

(1,854)

(26,655)

Provisions for liabilities

(3,834)

(6,754)

Accruals and deferred income

 

(2,375)

(1,625)

Net assets

 

152,503

144,898

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

152,501

144,896

Shareholders' funds

 

152,503

144,898

For the financial year ending 31 July 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Enville Oak Ltd

(Registration number: 11461876)
Abridged Balance Sheet as at 31 July 2023

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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 10 April 2024
 

.........................................
Mr Benjamin Turley
Director

 

Enville Oak Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
5 Parsons Street
Dudley
West Midlands
DY1 1JJ
England

These financial statements were authorised for issue by the director on 10 April 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 abridged 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 abridged 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.

 

Enville Oak Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 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

Office Equipment

20% Straight Line

Furniture and Fittings

15% Straight Line

Motor Vehicles

25% Reducing Balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Enville Oak Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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.

 

Enville Oak Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2022 - 13).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

13,720

24,894

 

Enville Oak Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

674

30,955

88,150

119,779

At 31 July 2023

674

30,955

88,150

119,779

Depreciation

At 1 August 2022

435

9,942

44,137

54,514

Charge for the year

118

6,193

7,409

13,720

At 31 July 2023

553

16,135

51,546

68,234

Carrying amount

At 31 July 2023

121

14,820

36,604

51,545

At 31 July 2022

239

21,013

44,013

65,265

6

Stocks

2023
£

2022
£

Work in progress

239,714

248,741

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2