Company registration number 04446306 (England and Wales)
OAKHIVE CARPET CONTRACTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
OAKHIVE CARPET CONTRACTORS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
OAKHIVE CARPET CONTRACTORS LIMITED (REGISTERED NUMBER: 04446306)
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
117
156
Current assets
Debtors
4
4,906
1,372
Cash at bank and in hand
6,841
14,559
11,747
15,931
Creditors: amounts falling due within one year
5
(8,318)
(10,625)
Net current assets
3,429
5,306
Total assets less current liabilities
3,546
5,462
Provisions for liabilities
(22)
(30)
Net assets
3,524
5,432
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
3,522
5,430
Total equity
3,524
5,432
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
OAKHIVE CARPET CONTRACTORS LIMITED (REGISTERED NUMBER: 04446306)
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 July 2024 and are signed on its behalf by:
S J Smith
Director
OAKHIVE CARPET CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
Oakhive Carpet Contractors Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Elmstone Close, Maidstone, Kent, ME18 8DQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Turnover for the sale of goods is recognised when all of the following conditions are met:
The company has transferred the significant risks and rewards of ownership to the buyer;
The amount of turnover can be recognised reliably and;
It is probable that the company will receive the consideration due under the transaction.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
The amount of turnover can be measured reliably;
It is probable that the company will receive the consideration due under the contract;
The stage of completion of the contract at the end of the reporting period can be measured reliably and;
The costs incurred and the costs to complete the contract can be measured reliably
OAKHIVE CARPET CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
- 25% on reducing balance
Motor vehicles
- 25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 June 2023 and 31 May 2024
1,008
11,450
12,458
Depreciation and impairment
At 1 June 2023
1,005
11,297
12,302
Depreciation charged in the year
1
38
39
At 31 May 2024
1,006
11,335
12,341
Carrying amount
At 31 May 2024
2
115
117
At 31 May 2023
3
153
156
OAKHIVE CARPET CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,372
Other debtors
4,906
4,906
1,372
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,191
Taxation and social security
3,627
4,633
Other creditors
4,691
2,801
8,318
10,625
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
Ordinary A of £1 each
1
1
1
1
2
2
2
2
7
Financial commitments, guarantees and contingent liabilities
The company gives the bank a fixed and floating charge over its assets and undertaking owned now and in the future.