Oakwood Joinery & Design Ltd SC760839 false 2023-03-02 2024-03-31 2024-03-31 The principal activity of the company is Joiners Digita Accounts Production Advanced 6.30.9574.0 true SC760839 2023-03-02 2024-03-31 SC760839 2024-03-31 SC760839 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-03-31 SC760839 core:CurrentFinancialInstruments 2024-03-31 SC760839 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC760839 core:MotorVehicles 2024-03-31 SC760839 bus:SmallEntities 2023-03-02 2024-03-31 SC760839 bus:AuditExemptWithAccountantsReport 2023-03-02 2024-03-31 SC760839 bus:FullAccounts 2023-03-02 2024-03-31 SC760839 bus:SmallCompaniesRegimeForAccounts 2023-03-02 2024-03-31 SC760839 bus:RegisteredOffice 2023-03-02 2024-03-31 SC760839 bus:Director1 2023-03-02 2024-03-31 SC760839 bus:Director2 2023-03-02 2024-03-31 SC760839 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-02 2024-03-31 SC760839 bus:PrivateLimitedCompanyLtd 2023-03-02 2024-03-31 SC760839 core:MotorVehicles 2023-03-02 2024-03-31 SC760839 countries:Scotland 2023-03-02 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC760839

Oakwood Joinery & Design Ltd

Annual Report and Unaudited Financial Statements

for the Period from 2 March 2023 to 31 March 2024

 

Oakwood Joinery & Design Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Oakwood Joinery & Design Ltd

Company Information

Directors

Mr David Reid Hanton

Mr Ross Perston

Registered office

19 Tay Terrace
East Kilbride
G75 8XD

Accountants

Clyde Business Services
159 King Street
Glasgow
Lanarkshire
G73 1BZ

 

Oakwood Joinery & Design Ltd

(Registration number: SC760839)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

16,000

Current assets

 

Debtors

5

5,392

Cash at bank and in hand

 

8,117

 

13,509

Creditors: Amounts falling due within one year

6

(16,198)

Net current liabilities

 

(2,689)

Net assets

 

13,311

Capital and reserves

 

Called up share capital

7

2

Retained earnings

13,309

Shareholders' funds

 

13,311

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 8 August 2024 and signed on its behalf by:
 

 

Oakwood Joinery & Design Ltd

(Registration number: SC760839)
Balance Sheet as at 31 March 2024

.........................................
Mr David Reid Hanton
Director

.........................................
Mr Ross Perston
Director

 

Oakwood Joinery & Design Ltd

Notes to the Unaudited Financial Statements for the Period from 2 March 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
19 Tay Terrace
East Kilbride
G75 8XD
Scotland

These financial statements were authorised for issue by the Board on 8 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Oakwood Joinery & Design Ltd

Notes to the Unaudited Financial Statements for the Period from 2 March 2023 to 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Oakwood Joinery & Design Ltd

Notes to the Unaudited Financial Statements for the Period from 2 March 2023 to 31 March 2024

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

20,000

20,000

At 31 March 2024

20,000

20,000

Depreciation

Charge for the period

4,000

4,000

At 31 March 2024

4,000

4,000

Carrying amount

At 31 March 2024

16,000

16,000

5

Debtors

Current

2024
£

Other debtors

5,392

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Other creditors

16,198

7

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary of £1 each

2

2

     

8

Dividends

 

Oakwood Joinery & Design Ltd

Notes to the Unaudited Financial Statements for the Period from 2 March 2023 to 31 March 2024

   

2024

 
   

£

 

Interim dividend of £4,000.00 per ordinary share

 

2,000

 
       

9

Related party transactions

 

Oakwood Joinery & Design Ltd

Notes to the Unaudited Financial Statements for the Period from 2 March 2023 to 31 March 2024

Directors' remuneration

The directors' remuneration for the period was as follows:

2024
£

Remuneration

25,140