REGISTERED NUMBER: |
Oakes Garland Solutions Limited |
Unaudited Financial Statements |
for the Period 1 December 2022 to 31 March 2024 |
REGISTERED NUMBER: |
Oakes Garland Solutions Limited |
Unaudited Financial Statements |
for the Period 1 December 2022 to 31 March 2024 |
Oakes Garland Solutions Limited (Registered number: 13034324) |
Contents of the Financial Statements |
for the Period 1 December 2022 to 31 March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Oakes Garland Solutions Limited |
Company Information |
for the Period 1 December 2022 to 31 March 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
5 Queen Street |
Great Yarmouth |
Norfolk |
NR30 2QP |
Oakes Garland Solutions Limited (Registered number: 13034324) |
Statement of Financial Position |
31 March 2024 |
31/3/24 | 30/11/22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Retained earnings |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Oakes Garland Solutions Limited (Registered number: 13034324) |
Statement of Financial Position - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Oakes Garland Solutions Limited (Registered number: 13034324) |
Notes to the Financial Statements |
for the Period 1 December 2022 to 31 March 2024 |
1. | Statutory information |
Oakes Garland Solutions Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents sales at invoice value excluding value added tax. |
Sales income represents revenue earned under a variety of contracts to provide services. Revenue is recognised as earned when, and to the extent that, the company earns the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to customers, including expenses but excluding value added tax. |
Revenue is recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts, the amount of revenue reflects the accrual for the right to consideration by reference to the value of work performed. Revenue not billed to customers in included in other debtors. |
Sales income that is contingent on events outside the control of the company are recognised when the contingent event occurs. |
Tangible fixed assets |
Plant and machinery | - |
Computer and office equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Oakes Garland Solutions Limited (Registered number: 13034324) |
Notes to the Financial Statements - continued |
for the Period 1 December 2022 to 31 March 2024 |
2. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | Employees and directors |
The average number of employees during the period was |
4. | Tangible fixed assets |
Computer |
and |
Plant and | office |
machinery | equipment | Totals |
£ | £ | £ |
Cost |
At 1 December 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
Depreciation |
At 1 December 2022 |
Charge for period |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 30 November 2022 |
Oakes Garland Solutions Limited (Registered number: 13034324) |
Notes to the Financial Statements - continued |
for the Period 1 December 2022 to 31 March 2024 |
4. | Tangible fixed assets - continued |
Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows: |
Plant and |
machinery |
£ |
Cost |
At 1 December 2022 |
Disposals | ( |
) |
Transfer to ownership | (4,175 | ) |
At 31 March 2024 |
Depreciation |
At 1 December 2022 |
Charge for period |
Transfer to ownership | (4,175 | ) |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 30 November 2022 |
5. | Debtors: amounts falling due within one year |
31/3/24 | 30/11/22 |
£ | £ |
Trade debtors |
Amounts owed by associates |
Other debtors |
6. | Creditors: amounts falling due within one year |
31/3/24 | 30/11/22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts and finance leases |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
31/3/24 | 30/11/22 |
£ | £ |
Hire purchase contracts and finance leases |
8. | Change of accounting date |
On 24 July 2024, the company extended its accounting date from 30 November 2023 to 31 March 2024. Accordingly, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. |