Registered number
12091487
Oaken Limited
Filleted Accounts
31 July 2024
Oaken Limited
Registered number: 12091487
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 44 96
Current assets
Debtors 4 636,831 835,873
Cash at bank and in hand 513,118 542,850
1,149,949 1,378,723
Creditors: amounts falling due within one year 5 (446,618) (594,355)
Net current assets 703,331 784,368
Total assets less current liabilities 703,375 784,464
Creditors: amounts falling due after more than one year 6 (9,907) (20,753)
Net assets 693,468 763,711
Capital and reserves
Called up share capital 3 3
Profit and loss account 693,465 763,708
Shareholders' funds 693,468 763,711
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 members have 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.
L Smith
Director
Approved by the board on 6 September 2024
Oaken Limited
Notes to the Accounts
for the period from 1 July 2023 to 31 July 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 comprises a share in a joint venture of a completed development in 2022/23.
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, 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 over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current tax liabilities are not discounted.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 240
At 31 July 2024 240
Depreciation
At 1 July 2023 144
Charge for the period 52
At 31 July 2024 196
Net book value
At 31 July 2024 44
At 30 June 2023 96
4 Debtors 2024 2023
£ £
Other debtors 636,831 835,873
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 1,524 1,170
Taxation and social security costs 215 148,236
Other creditors 434,879 434,949
446,618 594,355
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,907 20,753
7 Controlling party
The company is controlled by KJ Kilford, L Smith and Y Watt.
8 Other information
Oaken Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Ringwood Road
Walkford
Christchurch
Dorset
BH23 5RD
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