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Registered number: 14554861
Project Oak Ltd
Unaudited ABRIDGED Financial Statements
For the Period 22 December 2022 to 31 March 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 14554861
31 March 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 1,083
1,083
CURRENT ASSETS
Debtors 8,532
Cash at bank and in hand 316
8,848
Creditors: Amounts Falling Due Within One Year (9,236 )
NET CURRENT ASSETS (LIABILITIES) (388 )
TOTAL ASSETS LESS CURRENT LIABILITIES 695
PROVISIONS FOR LIABILITIES
Deferred Taxation (218 )
NET ASSETS 477
CAPITAL AND RESERVES
Called up share capital 5 100
Profit and Loss Account 377
SHAREHOLDERS' FUNDS 477
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For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Oliver Plucknett
Director
28/08/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Project Oak Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14554861 . The registered office is Units 1-2 Warrior Court, 9-11 Mumby Road, Gosport, Hampshire, PO12 1BS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% reducing balance
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. 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.
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3. Average Number of Employees
The average number of persons employed under contracts of service during the year was:  NIL
-
4. Tangible Assets
Total
£
Cost
As at 22 December 2022 -
Additions 1,499
As at 31 March 2024 1,499
Depreciation
As at 22 December 2022 -
Provided during the period 416
As at 31 March 2024 416
Net Book Value
As at 31 March 2024 1,083
As at 22 December 2022 -
5. Share Capital
31 March 2024
£
Allotted, Called up and fully paid 100
6. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 22 December 2022 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Oliver Plucknett - 57,166 (55,438 ) - 1,728
The above loan is unsecured, interest free and repayable on demand.
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