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REGISTERED NUMBER: 01579072 (England and Wales)











Financial Statements

for the Year Ended 31 December 2023

for

Oatenvale Limited

Oatenvale Limited (Registered number: 01579072)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oatenvale Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr A J Bell
Mr R Bell



SECRETARY: Mr R Bell



REGISTERED OFFICE: 334 Cotmanhay Road
Ilkeston
Derbyshire
DE7 8JW



REGISTERED NUMBER: 01579072 (England and Wales)



ACCOUNTANTS: Mabe Allen LLP
Chartered Accountants
The Old Manse
29 St. Mary Street
Ilkeston
Derbyshire
DE7 8AB



BANKERS: National Westminster Bank Plc
12 Market Street
Heanor
Derbyshire
DE7 7NY

Oatenvale Limited (Registered number: 01579072)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,913 31,691
Investment property 5 88,985 88,985
116,898 120,676

CURRENT ASSETS
Stocks 14,250 20,313
Debtors 6 353 5,059
Cash at bank and in hand 1,137 3,097
15,740 28,469
CREDITORS
Amounts falling due within one year 7 109,024 77,535
NET CURRENT LIABILITIES (93,284 ) (49,066 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,614

71,610

CREDITORS
Amounts falling due after more than one
year

8

78,170

90,326
NET LIABILITIES (54,556 ) (18,716 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (54,656 ) (18,816 )
SHAREHOLDERS' FUNDS (54,556 ) (18,716 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Oatenvale Limited (Registered number: 01579072)

Balance Sheet - continued
31 December 2023


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 Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:




Mr R Bell - Director



Mr A J Bell - Director


Oatenvale Limited (Registered number: 01579072)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Oatenvale 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.

2. ACCOUNTING POLICIES

Principle accounting policies
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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and also have been consistently applied within the same financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2.5% per annum on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stock is valued at the lower of cost and net residual value, after making due allowance for obsolete and slow moving items.

Work in progress is valued at estimated sales price less estimated future costs to completion.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.


Oatenvale Limited (Registered number: 01579072)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a money purchase scheme for qualifying employees and directors. Amounts payable are charged to the Profit and Loss Account in the year in which they are paid.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 62,533 27,929 31,420 25,495 147,377
DEPRECIATION
At 1 January 2023 43,764 26,561 25,442 19,919 115,686
Charge for year 1,563 223 598 1,394 3,778
At 31 December 2023 45,327 26,784 26,040 21,313 119,464
NET BOOK VALUE
At 31 December 2023 17,206 1,145 5,380 4,182 27,913
At 31 December 2022 18,769 1,368 5,978 5,576 31,691


Oatenvale Limited (Registered number: 01579072)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. INVESTMENT PROPERTY
Total
£   
COST
At 1 January 2023
and 31 December 2023 88,985
NET BOOK VALUE
At 31 December 2023 88,985
At 31 December 2022 88,985

The value of the Investment Property is not considered to be materially different to the actual cost when acquired in December 2016.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation Tax - 3,373
Prepayments 353 1,686
353 5,059

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,182 32,541
Hire purchase contracts - 2,753
Trade creditors 18,260 12,997
Social security and other taxes 10,424 10,848
Directors' current accounts 45,628 15,096
Accruals 3,530 3,300
109,024 77,535

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 13,000 13,000
Bank loans - 2-5 years 14,000 24,000
Bank loans more 5 years 51,170 53,326
78,170 90,326

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 years 51,170 53,326

Oatenvale Limited (Registered number: 01579072)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank Loans 65,494 67,919

One of the bank loans is secured against land and buildings owned by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100