Company Registration No. 10071204 (England and Wales)
Oak and Pine Online Limited
Unaudited accounts
for the year ended 31 October 2023
Oak and Pine Online Limited
Unaudited accounts
Contents
Oak and Pine Online Limited
Company Information
for the year ended 31 October 2023
Company Number
10071204 (England and Wales)
Registered Office
Unit 13 Kirkby Stephen Business Park,
St Luke's Road
Kirkby Stephen
Cumbria
CA17 4HT
Accountants
Parkin Finance Limited
Oak and Pine Online Limited
Statement of financial position
as at 31 October 2023
Intangible assets
1,425
3,320
Tangible assets
12,916
14,413
Cash at bank and in hand
2,574
3,770
Creditors: amounts falling due within one year
(25,557)
(24,394)
Net current assets
2,434
5,979
Total assets less current liabilities
16,775
23,712
Creditors: amounts falling due after more than one year
(13,536)
(17,698)
Provisions for liabilities
Deferred tax
(2,725)
(3,369)
Called up share capital
1
1
Profit and loss account
513
2,644
Shareholders' funds
514
2,645
For the year ending 31 October 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 director acknowledges his 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 and authorised for issue on 15 July 2024 and were signed on its behalf by
Mr J Walker
Director
Company Registration No. 10071204
Oak and Pine Online Limited
Notes to the Accounts
for the year ended 31 October 2023
Oak and Pine Online Limited is a private company, limited by shares, registered in England and Wales, registration number 10071204. The registered office is Unit 13 Kirkby Stephen Business Park, , St Luke's Road, Kirkby Stephen, Cumbria, CA17 4HT.
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.
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
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:
Motor vehicles
25% reducing balance
Computer equipment
33% reducing balance
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.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Oak and Pine Online Limited
Notes to the Accounts
for the year ended 31 October 2023
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.
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.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2022
17,817
376
18,193
At 31 October 2023
20,650
376
21,026
At 1 November 2022
3,619
161
3,780
Charge for the year
4,258
72
4,330
At 31 October 2023
7,877
233
8,110
At 31 October 2023
12,773
143
12,916
At 31 October 2022
14,198
215
14,413
Oak and Pine Online Limited
Notes to the Accounts
for the year ended 31 October 2023
Amounts falling due within one year
Accrued income and prepayments
-
107
Other debtors
8,319
13,965
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,164
4,218
Taxes and social security
1,579
1,289
Other creditors
7,590
7,764
8
Creditors: amounts falling due after more than one year
2023
2022
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans
10,047
1,445
10,047
1,445
10,047
1,445
10,047
1,445
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).