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REGISTERED NUMBER: 02764324 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 December 2023

for

Oakwood Contracts Limited

Oakwood Contracts Limited (Registered number: 02764324)






Contents of the Financial Statements
for the Year Ended 28 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oakwood Contracts Limited

Company Information
for the Year Ended 28 December 2023







DIRECTORS: Mr G Craven
Mr L Craven





SECRETARY: Mr G Craven





REGISTERED OFFICE: Unit B Herons Way
Carr Hill
Balby
Doncaster
DN4 8WA





REGISTERED NUMBER: 02764324 (England and Wales)





ACCOUNTANTS: Douglas Shaw Limited
7 Brenkley Way
Blezard Business Park
Seaton Burn
Tyne and Wear
NE13 6DS

Oakwood Contracts Limited (Registered number: 02764324)

Balance Sheet
28 December 2023

28.12.23 28.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 218,186 113,559

CURRENT ASSETS
Stocks 1,078,391 1,026,820
Debtors 5 3,583,009 2,813,160
Cash at bank 241,879 984,506
4,903,279 4,824,486
CREDITORS
Amounts falling due within one year 6 3,219,327 3,123,167
NET CURRENT ASSETS 1,683,952 1,701,319
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,902,138

1,814,878

CREDITORS
Amounts falling due after more than
one year

7

(196,255

)

(142,197

)

PROVISIONS FOR LIABILITIES (26,868 ) (20,802 )
NET ASSETS 1,679,015 1,651,879

CAPITAL AND RESERVES
Called up share capital 198 198
Retained earnings 1,678,817 1,651,681
1,679,015 1,651,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Oakwood Contracts Limited (Registered number: 02764324)

Balance Sheet - continued
28 December 2023


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 18 September 2024 and were signed on its behalf by:





Mr G Craven - Director


Oakwood Contracts Limited (Registered number: 02764324)

Notes to the Financial Statements
for the Year Ended 28 December 2023

1. STATUTORY INFORMATION

Oakwood Contracts 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.
Improvements to property - 10 years
Plant & equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Oakwood Contracts Limited (Registered number: 02764324)

Notes to the Financial Statements - continued
for the Year Ended 28 December 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2022 - 47 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant & Motor Office
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 29 December 2022 146,674 124,223 293,826 44,483 609,206
Additions - 73,950 107,064 - 181,014
Disposals - - (84,125 ) - (84,125 )
At 28 December 2023 146,674 198,173 316,765 44,483 706,095
DEPRECIATION
At 29 December 2022 146,673 95,809 210,730 42,435 495,647
Charge for year - 15,355 43,150 307 58,812
Eliminated on disposal - - (66,550 ) - (66,550 )
At 28 December 2023 146,673 111,164 187,330 42,742 487,909
NET BOOK VALUE
At 28 December 2023 1 87,009 129,435 1,741 218,186
At 28 December 2022 1 28,414 83,096 2,048 113,559

Oakwood Contracts Limited (Registered number: 02764324)

Notes to the Financial Statements - continued
for the Year Ended 28 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.12.23 28.12.22
£    £   
Trade debtors 3,109,289 2,741,204
Other debtors & prepayments 473,720 71,956
3,583,009 2,813,160

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.12.23 28.12.22
£    £   
Bank loans and overdrafts 50,016 50,006
Hire purchase contracts 30,975 24,938
Trade creditors 2,086,421 2,294,193
Tax - 6,122
Social security and other taxes 761,862 496,289
Other creditors & accruals 290,053 251,619
3,219,327 3,123,167

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
28.12.23 28.12.22
£    £   
Bank loans - 1-2 years 50,026 50,006
Bank loans - 2-5 years 29,166 79,178
Hire purchase contracts 117,063 13,013
196,255 142,197