Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr C C Brentnall 27/05/2016 Mr L T Copley-Wilkins 24/07/2018 Mr L A Manning 09/01/2006 Mr A J Milton 18/09/2023 01/03/2002 02 September 2024 The principal activity of the company during the financial year was that of oak frame building. 04081323 2023-12-31 04081323 bus:Director1 2023-12-31 04081323 bus:Director2 2023-12-31 04081323 bus:Director3 2023-12-31 04081323 bus:Director4 2023-12-31 04081323 2022-12-31 04081323 core:CurrentFinancialInstruments 2023-12-31 04081323 core:CurrentFinancialInstruments 2022-12-31 04081323 core:Non-currentFinancialInstruments 2023-12-31 04081323 core:Non-currentFinancialInstruments 2022-12-31 04081323 core:ShareCapital 2023-12-31 04081323 core:ShareCapital 2022-12-31 04081323 core:RetainedEarningsAccumulatedLosses 2023-12-31 04081323 core:RetainedEarningsAccumulatedLosses 2022-12-31 04081323 core:LandBuildings 2022-12-31 04081323 core:PlantMachinery 2022-12-31 04081323 core:Vehicles 2022-12-31 04081323 core:ToolsEquipment 2022-12-31 04081323 core:OfficeEquipment 2022-12-31 04081323 core:LandBuildings 2023-12-31 04081323 core:PlantMachinery 2023-12-31 04081323 core:Vehicles 2023-12-31 04081323 core:ToolsEquipment 2023-12-31 04081323 core:OfficeEquipment 2023-12-31 04081323 2021-12-31 04081323 bus:OrdinaryShareClass1 2023-12-31 04081323 bus:OrdinaryShareClass2 2023-12-31 04081323 bus:OrdinaryShareClass3 2023-12-31 04081323 2023-01-01 2023-12-31 04081323 bus:FilletedAccounts 2023-01-01 2023-12-31 04081323 bus:SmallEntities 2023-01-01 2023-12-31 04081323 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04081323 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04081323 bus:Director1 2023-01-01 2023-12-31 04081323 bus:Director2 2023-01-01 2023-12-31 04081323 bus:Director3 2023-01-01 2023-12-31 04081323 bus:Director4 2023-01-01 2023-12-31 04081323 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 04081323 core:PlantMachinery 2023-01-01 2023-12-31 04081323 core:Vehicles 2023-01-01 2023-12-31 04081323 core:ToolsEquipment 2023-01-01 2023-12-31 04081323 core:OfficeEquipment 2023-01-01 2023-12-31 04081323 2022-01-01 2022-12-31 04081323 core:LandBuildings 2023-01-01 2023-12-31 04081323 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 04081323 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04081323 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 04081323 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 04081323 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 04081323 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 04081323 bus:OrdinaryShareClass3 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04081323 (England and Wales)

CARPENTER OAK LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

CARPENTER OAK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

CARPENTER OAK LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
CARPENTER OAK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr C C Brentnall
Mr L T Copley-Wilkins
Mr L A Manning
Mr A J Milton (Resigned 18 September 2023)
SECRETARY Mr J A Lewis
REGISTERED OFFICE The Framing Yard
East Cornworthy
Totnes
TQ9 7HF
United Kingdom
COMPANY NUMBER 04081323 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
CARPENTER OAK LIMITED

BALANCE SHEET

As at 31 December 2023
CARPENTER OAK LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 247,212 180,101
247,212 180,101
Current assets
Stocks 4 294,463 188,134
Debtors 5 1,072,305 1,031,933
Cash at bank and in hand 1,058,684 1,354,028
2,425,452 2,574,095
Creditors: amounts falling due within one year 6 ( 1,660,908) ( 2,125,299)
Net current assets 764,544 448,796
Total assets less current liabilities 1,011,756 628,897
Creditors: amounts falling due after more than one year 7 ( 16,518) ( 33,155)
Net assets 995,238 595,742
Capital and reserves
Called-up share capital 9 301,250 301,250
Profit and loss account 693,988 294,492
Total shareholder's funds 995,238 595,742

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Carpenter Oak Limited (registered number: 04081323) were approved and authorised for issue by the Board of Directors on 02 September 2024. They were signed on its behalf by:

Mr L T Copley-Wilkins
Director
CARPENTER OAK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
CARPENTER OAK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Carpenter Oak Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Framing Yard, East Cornworthy, Totnes, TQ9 7HF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover represents the invoice value of work done and materials supplied excluding value added tax. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Tools and equipment 100 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Where work in progress reflects only the purchase of materials it is valued on the basis of direct costs. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank and other loans; and
• Cash and bank balances.

All financial instruments are classified as basic. The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to
another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 47 49

3. Tangible assets

Land and buildings Plant and machinery Vehicles Tools and equipment Office equipment Total
£ £ £ £ £ £
Cost
At 01 January 2023 89,039 198,688 133,772 8,064 19,463 449,026
Additions 7,375 26,415 93,534 6,605 9,309 143,238
Disposals 0 0 ( 2,186) 0 0 ( 2,186)
At 31 December 2023 96,414 225,103 225,120 14,669 28,772 590,078
Accumulated depreciation
At 01 January 2023 62,299 121,224 67,052 8,064 10,286 268,925
Charge for the financial year 0 27,151 34,293 6,605 7,434 75,483
Disposals 0 0 ( 1,542) 0 0 ( 1,542)
At 31 December 2023 62,299 148,375 99,803 14,669 17,720 342,866
Net book value
At 31 December 2023 34,115 76,728 125,317 0 11,052 247,212
At 31 December 2022 26,740 77,464 66,720 0 9,177 180,101

4. Stocks

2023 2022
£ £
Stocks 294,463 188,134

5. Debtors

2023 2022
£ £
Trade debtors 307,615 755,670
Amounts owed by Group undertakings 481,881 96,683
Deferred tax asset 116,037 0
Other debtors 166,772 179,580
1,072,305 1,031,933

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,098 9,849
Trade creditors 172,444 332,622
Amounts owed to Group undertakings 61,750 61,750
Other taxation and social security 35,920 97,473
Obligations under finance leases and hire purchase contracts 6,538 20,736
Other creditors 1,374,158 1,602,869
1,660,908 2,125,299

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 16,518 26,617
Obligations under finance leases and hire purchase contracts 0 6,538
16,518 33,155

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

2023 2022
£ £
At the beginning of financial year 0 ( 28,629)
Credited to the Profit and Loss Account 116,037 28,629
At the end of financial year 116,037 0

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
125 A ordinary shares of £ 1.00 each 125 125
125 B ordinary shares of £ 1.00 each 125 125
301,000 Ordinary shares of £ 1.00 each 301,000 301,000
301,250 301,250