REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
OAKLEAFE CLAIMS (SCOTLAND) LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
OAKLEAFE CLAIMS (SCOTLAND) LTD |
OAKLEAFE CLAIMS (SCOTLAND) LTD (REGISTERED NUMBER: 10963207) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
OAKLEAFE CLAIMS (SCOTLAND) LTD |
Company Information |
for the year ended 31 December 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
OAKLEAFE CLAIMS (SCOTLAND) LTD (REGISTERED NUMBER: 10963207) |
Statement of Financial Position |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
Net assets |
Capital and reserves |
Called up share capital | 8 |
Retained earnings |
Shareholders' funds |
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. |
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 |
OAKLEAFE CLAIMS (SCOTLAND) LTD (REGISTERED NUMBER: 10963207) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | Statutory information |
Oakleafe Claims (Scotland) Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover from services represents amounts chargeable to clients for professional services provided during the year, excluding disbursements where the firm acts as agent and sales tax. The company only recognises turnover once services have been provided. |
Services provided to clients which at the balance sheet date have not been billed have been recognised as turnover. Turnover recognised in this manner is based on an assessment of the fair value of services provided by the balance sheet date. |
Where the right to receive payment is contingent on factors outside the control of the company and the matter is part of a portfolio of similar matters where we have historic data showing likely outcomes then this data is used to calculate the likelihood of success and the value likely to be recovered. This 'portfolio' approach is only taken where we are not aware of any specific reason why recovery on the matter is not probable. Where recovery is not considered probable turnover is only recognised (over and above any agreed minimum fee) when the contingent event occurs. |
Tangible fixed assets |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
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 statement of financial position date. |
OAKLEAFE CLAIMS (SCOTLAND) LTD (REGISTERED NUMBER: 10963207) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | Accounting policies - continued |
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. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
Additions |
At 31 December 2023 |
Depreciation |
Charge for year |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
8. | Called up share capital |
Allotted and issued: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Called up share capital | £1 | 2 | 2 |
OAKLEAFE CLAIMS (SCOTLAND) LTD (REGISTERED NUMBER: 10963207) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
9. | Related party disclosures |
Included within other debtors due within one year is an amount of £100,515 (2022 - £109,965) due from Oakleafe Group Ltd, a company in which the directors have a material interest. |
Included within other creditors due within one year is an amount of £353,090 (2022 - £354,506) due to Oakleafe Property Services Ltd, a company in which the directors have a material interest. |
Included within other creditors due within one year is an amount of £112,407 (2022 - £112,407 debtor) due to Oakleafe Services Ltd, a company in which the directors have a material interest. |
Included within other debtors due within one year is an amount of £425,591 (2022 - £386,250) due to Oakleafe Claims Ltd, a company in which the directors have a material interest. |
Included within other debtors due within one year is an amount of £31,000 (2022 - £26,000) due to Oakleafe Claims (Wales) Ltd, a company in which the directors have a material interest. |