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REGISTERED NUMBER: 03125754 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

Oak Electrical Limited

Oak Electrical Limited (Registered number: 03125754)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Oak Electrical Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: A Cook
I Kavanagh
B Pashley
R Jackson





REGISTERED OFFICE: Werner Court
Blue Ridge Park
Castleford
WF10 4TN





REGISTERED NUMBER: 03125754 (England and Wales)





AUDITORS: KJA Kilner Johnson Ltd (Statutory Auditors)
Network House
Stubs Beck Lane
Cleckheaton
BD19 4TT

Oak Electrical Limited (Registered number: 03125754)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 631,562 372,185

CURRENT ASSETS
Stocks 5 41,322 39,354
Debtors 6 2,412,438 1,307,065
Cash at bank and in hand 4,426,369 3,330,905
6,880,129 4,677,324
CREDITORS
Amounts falling due within one year 7 3,491,099 1,849,470
NET CURRENT ASSETS 3,389,030 2,827,854
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,020,592

3,200,039

CREDITORS
Amounts falling due after more than one
year

8

(103,349

)

(44,922

)

PROVISIONS FOR LIABILITIES (135,284 ) (93,046 )
NET ASSETS 3,781,959 3,062,071

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,781,859 3,061,971
SHAREHOLDERS' FUNDS 3,781,959 3,062,071

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 25 July 2024 and were signed on its behalf by:





A Cook - Director


Oak Electrical Limited (Registered number: 03125754)

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

1. STATUTORY INFORMATION

Oak Electrical 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

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.

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.
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Oak Electrical Limited (Registered number: 03125754)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 31 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 40,452 7,995 619,739 67,114 735,300
Additions - 301 465,543 1,005 466,849
Disposals (2,957 ) (3,248 ) (115,447 ) (12,535 ) (134,187 )
At 31 January 2024 37,495 5,048 969,835 55,584 1,067,962
DEPRECIATION
At 1 February 2023 32,263 5,980 287,040 37,832 363,115
Charge for year 2,048 984 160,109 7,962 171,103
Eliminated on disposal (2,464 ) (3,248 ) (82,438 ) (9,668 ) (97,818 )
At 31 January 2024 31,847 3,716 364,711 36,126 436,400
NET BOOK VALUE
At 31 January 2024 5,648 1,332 605,124 19,458 631,562
At 31 January 2023 8,189 2,015 332,699 29,282 372,185

5. STOCKS
2024 2023
£    £   
Stocks 41,322 39,354

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,292,370 1,085,548
Amounts owed by participating interests - 120,000
Prepayments 120,068 101,517
2,412,438 1,307,065

Oak Electrical Limited (Registered number: 03125754)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 65,988 21,581
Trade creditors 1,458,662 1,139,523
Amounts owed to participating interests 43,142 35,244
Tax 191,484 139,624
Social security and other taxes 85,069 97,347
VAT 416,888 306,177
Other creditors 4,672 4,627
Directors' current accounts 4,410 99,047
Accruals and deferred income 1,220,784 6,300
3,491,099 1,849,470

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 103,349 44,922

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

The Report of the Auditors was unqualified.

Raza Effendi MBA FCA (Senior Statutory Auditor)
for and on behalf of KJA Kilner Johnson Ltd (Statutory Auditors)