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REGISTERED NUMBER: 01313645 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Okeland Limited

Okeland Limited (Registered number: 01313645)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

Okeland Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr P Buck





REGISTERED OFFICE: Suite 2 1 Kings Road
Crowthorne
Berkshire
RG45 7BF





REGISTERED NUMBER: 01313645 (England and Wales)





ACCOUNTANTS: Elsburys Accountants
Suite 2
1 Kings Road
Crowthorne
Berkshire
RG45 7BF

Okeland Limited (Registered number: 01313645)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 131,049 121,962

CURRENT ASSETS
Stocks 15,961 -
Debtors 5 67,605 54,692
Cash at bank 76,598 125
160,164 54,817
CREDITORS
Amounts falling due within one year 6 135,257 95,294
NET CURRENT ASSETS/(LIABILITIES) 24,907 (40,477 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

155,956

81,485

CREDITORS
Amounts falling due after more than one
year

7

(23,603

)

(36,364

)

PROVISIONS FOR LIABILITIES (32,762 ) (30,490 )
NET ASSETS 99,591 14,631

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 99,541 14,581
SHAREHOLDERS' FUNDS 99,591 14,631

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 17 September 2024 and were signed by:





Mr P Buck - Director


Okeland Limited (Registered number: 01313645)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Okeland 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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

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 5 (2023 - 4 ) .

Okeland Limited (Registered number: 01313645)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 159,163 166,045 8,599 333,807
Additions - 50,263 - 50,263
Disposals - (33,899 ) - (33,899 )
At 31 May 2024 159,163 182,409 8,599 350,171
DEPRECIATION
At 1 June 2023 120,059 83,187 8,599 211,845
Charge for year 9,778 21,342 - 31,120
Eliminated on disposal - (23,843 ) - (23,843 )
At 31 May 2024 129,837 80,686 8,599 219,122
NET BOOK VALUE
At 31 May 2024 29,326 101,723 - 131,049
At 31 May 2023 39,104 82,858 - 121,962

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 51,309 49,822
VAT - 3,845
Prepayments and accrued income 16,296 1,025
67,605 54,692

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts (see note 8) 10,648 54,467
Hire purchase contracts (see note 9) 12,948 11,065
Trade creditors 56,629 19,073
Tax 40,372 6,851
Social security and other taxes 845 1,286
CIS 5,470 110
Pensions control 104 442
VAT 6,241 -
Other creditors 2,000 2,000
135,257 95,294

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans (see note 8) 11,632 21,288
Hire purchase contracts (see note 9) 11,971 15,076
23,603 36,364

Okeland Limited (Registered number: 01313645)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 35,778
Bank loans 10,648 18,689
10,648 54,467

Amounts falling due between one and two years:
Bank loans - 1-2 years 11,632 21,288

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 12,948 11,065
Between one and five years 11,971 15,076
24,919 26,141

Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Within one year - 5,711
Between one and five years - 1,903
- 7,614

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Okeland Properties Ltd.

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Okeland Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Okeland Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Okeland Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Okeland Limited and state those matters that we have agreed to state to the director of Okeland Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Okeland Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Okeland Limited. You consider that Okeland Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Okeland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Elsburys Accountants
Suite 2
1 Kings Road
Crowthorne
Berkshire
RG45 7BF


17 September 2024