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REGISTERED NUMBER: 05849776 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Oakham Engineering Limited

Oakham Engineering Limited (Registered number: 05849776)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oakham Engineering Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D C Davis
B Constable





REGISTERED OFFICE: Unit 15 Rutherford Court
Brunel Road
Earlstrees Industrial Estate
Corby
Northamptonshire
NN17 4SJ





REGISTERED NUMBER: 05849776 (England and Wales)





ACCOUNTANTS: Tollingtons Accountants Limited
Chartered Certified Accountants
11 Ashton Drive
Enderby
Leicestershire
LE19 4BA

Oakham Engineering Limited (Registered number: 05849776)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,103 17,156
14,103 17,156

CURRENT ASSETS
Stocks 2,500 3,000
Debtors 6 34,930 59,397
Cash at bank 42,289 31,861
79,719 94,258
CREDITORS
Amounts falling due within one year 7 23,525 33,729
NET CURRENT ASSETS 56,194 60,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,297

77,685

CREDITORS
Amounts falling due after more than one
year

8

(173

)

(2,244

)

PROVISIONS FOR LIABILITIES 10 (2,680 ) (3,260 )
NET ASSETS 67,444 72,181

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 67,344 72,081
SHAREHOLDERS' FUNDS 67,444 72,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

Oakham Engineering Limited (Registered number: 05849776)

Balance Sheet - continued
31 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





B Constable - Director


Oakham Engineering Limited (Registered number: 05849776)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Oakham Engineering 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on 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 Statement of Income and Retained Earnings, 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.

Oakham Engineering Limited (Registered number: 05849776)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 37,300
AMORTISATION
At 1 January 2023
and 31 December 2023 37,300
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 46,363 11,370 57,733
DEPRECIATION
At 1 January 2023 34,003 6,574 40,577
Charge for year 1,854 1,199 3,053
At 31 December 2023 35,857 7,773 43,630
NET BOOK VALUE
At 31 December 2023 10,506 3,597 14,103
At 31 December 2022 12,360 4,796 17,156

Oakham Engineering Limited (Registered number: 05849776)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 11,370
DEPRECIATION
At 1 January 2023 6,574
Charge for year 1,199
At 31 December 2023 7,773
NET BOOK VALUE
At 31 December 2023 3,597
At 31 December 2022 4,796

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 32,741 57,208
Prepayments 2,189 2,189
34,930 59,397

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 2,071 2,071
Trade creditors 5,470 8,955
Tax 6,290 10,710
Social security and other taxes 1,341 549
VAT 6,776 9,248
Pension creditor 78 65
Credit card 491 473
Directors' current accounts 8 8
Accrued expenses 1,000 1,650
23,525 33,729

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 173 2,244

Oakham Engineering Limited (Registered number: 05849776)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 2,244 4,315

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 2,680 3,260

Deferred
tax
£   
Balance at 1 January 2023 3,260
Credit to Statement of Income and Retained Earnings during year (580 )
Balance at 31 December 2023 2,680

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

12. OTHER FINANCIAL COMMITMENTS

The company has future property operating lease commitments of £9,494 per year for at least one year.