REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
OAKTREE LIVING LIMITED |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Senior statutory auditor: |
Auditors: |
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 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
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 |
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 |
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 |
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 |
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 |
Motor vehicles | - |
Computer equipment | - |
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 |
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 |
Additions |
Disposals | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Hire purchase contracts |
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. |
for and on behalf of |
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. |