Registered number
14901013
Oak Technology Solution Ltd
Filleted Accounts
for the period from 29 May 2023 to 31 May 2024
Oak Technology Solution Ltd
Registered number: 14901013
Balance Sheet
as at 31 May 2024
Notes 2024
£
Fixed assets
Tangible assets 3 2,848
Current assets
Debtors 4 40,320
Cash at bank and in hand 21,395
61,715
Creditors: amounts falling due within one year 5 (64,546)
Net current liabilities (2,831)
Net assets 17
Capital and reserves
Called up share capital 1
Profit and loss account 16
Shareholder's funds 17
The director is 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 director acknowledges his 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.
O A Adekoya
Director
Approved by the board on 9 September 2024
Oak Technology Solution Ltd
Notes to the Accounts
for the period from 29 May 2023 to 31 May 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 rendering of services.
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:
Furniture, fixture & equipment 20% reducing balance
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and 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.
2 Employees 2024
Number
Average number of persons employed by the company 0
3 Tangible fixed assets
Furniture, fixture & equipment
£
Cost
At 29 May 2023 3,560
At 31 May 2024 3,560
Depreciation
Charge for the period 712
At 31 May 2024 712
Net book value
At 31 May 2024 2,848
At 28 May 2023 3,560
4 Debtors 2024
£
Trade debtors 40,320
5 Creditors: amounts falling due within one year 2024
£
Trade creditors 29,587
Taxation and social security costs 12,940
Other creditors 22,019
64,546
6 Other information
Oak Technology Solution Ltd is a private company limited by shares and incorporated in England. Its registered office is:
19 Freda Lane, Nottingham,
Leicestershire
NG13 0HZ
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