Registered number
12843187
Oakwood Data Limited
Unaudited Filleted Accounts
31 August 2023
Oakwood Data Limited
Registered number: 12843187
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,321 206
Current assets
Debtors 4 122,538 49,155
Cash at bank and in hand 923,356 942,957
1,045,894 992,112
Creditors: amounts falling due within one year 5 (468,067) (300,057)
Net current assets 577,827 692,055
Net assets 579,148 692,261
Capital and reserves
Called up share capital 100 100
Profit and loss account 579,048 692,161
Shareholders' funds 579,148 692,261
The director is 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 director acknowledges his 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 J. Sa Joe
Director
Approved by the board on 17 April 2024
Oakwood Data Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Statement of compliance
Oakwood Data Limited is a private company limited by shares, incorporated in England and Wales. The address of the principal place of business, is its registered office which is disclosed on the information page.
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).
Going concern
The directors have assessed the company's ability to continue as a going concern and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In doing this, they have considered the level of reserves held, the results for the period, expectations of future trading as a result of trading relationships with key customers. On the basis of this information the directors are satisfied that the company will continue as a going concern and so the financial statements have been prepared on this basis.
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:
Plant and machinery 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 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 344
Additions 1,480
At 31 August 2023 1,824
Depreciation
At 1 September 2022 138
Charge for the year 365
At 31 August 2023 503
Net book value
At 31 August 2023 1,321
At 31 August 2022 206
4 Debtors 2023 2022
£ £
Other debtors 122,538 49,155
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,390 -
Directors' loan account 4,147 4,123
Taxation and social security costs 314,967 193,987
Other creditors 147,563 101,947
468,067 300,057
6 Other information
Oakwood Data Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit T13 Tideway Yard
125 Mortlake High Street
London
SW14 8SN
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