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REGISTERED NUMBER: 13051877 (England and Wales)














Financial Statements

for the Year Ended 31 March 2024

for

OAKTREE LIVING LIMITED

OAKTREE LIVING LIMITED (REGISTERED NUMBER: 13051877)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OAKTREE LIVING LIMITED

Company Information
for the Year Ended 31 March 2024







Director: M E Hewitson



Registered office: Teesside Grange
Eaglescliffe
Stockton On Tees
TS16 0QH



Registered number: 13051877 (England and Wales)



Senior statutory auditor: Karl Michael Gordon FCCA



Auditors: Mitchell Gordon LLP
Accountants and Statutory Auditor
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

OAKTREE LIVING LIMITED (REGISTERED NUMBER: 13051877)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 81,707 59,926

Current assets
Stocks 697,426 969,756
Debtors 5 919,918 628,966
Cash at bank 273,390 44,333
1,890,734 1,643,055
Creditors
Amounts falling due within one year 6 1,380,586 1,562,467
Net current assets 510,148 80,588
Total assets less current liabilities 591,855 140,514

Creditors
Amounts falling due after more than one
year

7

(55,076

)

-

Provisions for liabilities (19,397 ) (10,336 )
Net assets 517,382 130,178

Capital and reserves
Called up share capital 1 1
Retained earnings 517,381 130,177
517,382 130,178

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 16 August 2024 and were signed by:





M E Hewitson - Director


OAKTREE LIVING LIMITED (REGISTERED NUMBER: 13051877)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Oaktree Living Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The company traded for a longer period in the comparative period due to a change in accounting period. Therefore the comparative amounts in the financial statements (including related notes) are not entirely comparable.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources and support from the parent company, Hewitson Group Limited, to continue in operational existence for at least the next twelve months.

The financial statements have been prepared under the going concern basis of accounting.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned entities within the group.

Critical accounting judgements and key sources of estimation uncertainty
The directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis.

Work-in-progress: forecasts are made on the outcomes of construction contracts which require assessments and judgements to be made on the recoverability of pre-contract costs, changes in the scope of work, contract programmes, defect liabilities and changes in costs.

The Company's revenue recognition policy is set out within the accounting policy for Turnover and is central to how the company values the work it has carried out in each financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Contract revenue and contract costs are recognised as revenue and expenses by reference to the stage of completion at the reporting date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 33% on reducing balance and 25% on reducing balance
Computer equipment - 33% on cost

OAKTREE LIVING LIMITED (REGISTERED NUMBER: 13051877)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Stocks
Work in progress for construction contracts is valued using the percentage completion method.

Non-contracted work in progress is valued using the lower of cost and net realisable value.

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 5 ) .

OAKTREE LIVING LIMITED (REGISTERED NUMBER: 13051877)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 70,031
Additions 49,750
Disposals (5,600 )
At 31 March 2024 114,181
DEPRECIATION
At 1 April 2023 10,105
Charge for year 25,549
Eliminated on disposal (3,180 )
At 31 March 2024 32,474
NET BOOK VALUE
At 31 March 2024 81,707
At 31 March 2023 59,926

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 78,647 455,378
Amounts owed by group undertakings 636,330 22,877
Other debtors 204,941 150,711
919,918 628,966

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts 25,124 -
Trade creditors 208,367 244,401
Amounts owed to group undertakings 3,215 1,051,807
Taxation and social security 140,150 14,303
Other creditors 1,003,730 251,956
1,380,586 1,562,467

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts 55,076 -

OAKTREE LIVING LIMITED (REGISTERED NUMBER: 13051877)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Hire purchase contracts 80,200 -

The debts are secured via the assets which they have financed.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Karl Michael Gordon FCCA (Senior Statutory Auditor)
for and on behalf of Mitchell Gordon LLP

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Hewitson Group Ltd, a private company limited by shares registered in England and Wales.

The registered office is the same as for Oaktree Living Limited and can be found on the company information page. Consolidated group accounts are prepared by the parent and be obtained from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.