Registered number
02748090
Oaktree Interiors Limited
Filleted Accounts
31 March 2024
Oaktree Interiors Limited
Registered number: 02748090
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 167,142 163,689
Current assets
Debtors 4 1,099,035 1,469,976
Cash at bank and in hand 1,132,218 874,849
2,231,253 2,344,825
Creditors: amounts falling due within one year 5 (1,646,790) (1,947,078)
Net current assets 584,463 397,747
Net assets 751,605 561,436
Capital and reserves
Called up share capital 120,002 120,002
Profit and loss account 631,603 441,434
Shareholder's funds 751,605 561,436
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Mills
Director
Approved by the board on 27 August 2024
Oaktree Interiors Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% per annum reducing balance
Motor vehicles 25% per annum reducing balance
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 20 20
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 94,484 208,603 303,087
Additions 12,882 48,958 61,840
Disposals (5,823) (23,245) (29,068)
At 31 March 2024 101,543 234,316 335,859
Depreciation
At 1 April 2023 63,227 76,171 139,398
Charge for the year 7,941 38,986 46,927
On disposals (4,448) (13,160) (17,608)
At 31 March 2024 66,720 101,997 168,717
Net book value
At 31 March 2024 34,823 132,319 167,142
At 31 March 2023 31,257 132,432 163,689
4 Debtors 2024 2023
£ £
Trade debtors 980,305 1,364,506
Other debtors 118,730 105,470
1,099,035 1,469,976
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 88,541 132,021
Trade creditors 1,134,248 1,087,507
Taxation and social security costs 409,320 326,523
Other creditors 14,681 401,027
1,646,790 1,947,078
6 Loans to Directors B/fwd Paid Repaid C/fwd
P Mills, on demand - 45,489 5,169 40,320
C Mills, on demand 79 32,073 14,383 17,769
7 Other information
Oaktree Interiors Limited is a private company limited by shares registered in England at Keepers Cottage, Bearwood Road, Wokingham, Berkshire, RG41 4SJ. An interim dividend of £100,000 was paid during the year. The immediate parent undertaking is Oaktree Interiors Holdings Limited registered in England at 2 St. James Gate, Newcastle Upon Tyne, England, NE1 4AD.
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