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REGISTERED NUMBER: 03301783 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

OAKFIELD P.M. LIMITED

OAKFIELD P.M. LIMITED (REGISTERED NUMBER: 03301783)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


OAKFIELD P.M. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Miss S L Hensher
Mr N M Newstead
Mr S J Ruxton-Cocker
Mrs K Newstead
Mrs E Hawkins





REGISTERED OFFICE: Head Office
4 Hayland Industrial Estate
Maunsell Road
St. Leonards-On-Sea
East Sussex
TN38 9NN





REGISTERED NUMBER: 03301783 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

OAKFIELD P.M. LIMITED (REGISTERED NUMBER: 03301783)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 220,974 154,821
Tangible assets 5 339,555 280,634
Investments 6 - 781
560,529 436,236

CURRENT ASSETS
Debtors 7 523,016 322,004
Cash at bank and in hand 457,388 704,470
980,404 1,026,474
CREDITORS
Amounts falling due within one year 8 288,200 425,512
NET CURRENT ASSETS 692,204 600,962
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,252,733

1,037,198

CREDITORS
Amounts falling due after more than one
year

9

-

(124,565

)

PROVISIONS FOR LIABILITIES 11 (76,497 ) (53,320 )
NET ASSETS 1,176,236 859,313

CAPITAL AND RESERVES
Called up share capital 12 120 120
Retained earnings 1,176,116 859,193
SHAREHOLDERS' FUNDS 1,176,236 859,313

OAKFIELD P.M. LIMITED (REGISTERED NUMBER: 03301783)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 28 October 2024 and were signed on its behalf by:





Mr N M Newstead - Director


OAKFIELD P.M. LIMITED (REGISTERED NUMBER: 03301783)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Oakfield P.M. 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 2020, is being amortised evenly over its estimated useful life of five 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.
Plant and machinery - 33% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

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.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

OAKFIELD P.M. LIMITED (REGISTERED NUMBER: 03301783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

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.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENT
The financial statements contain information about Oakfield P.M. Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 46 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 February 2023 423,948
Additions 199,035
At 31 January 2024 622,983
Amortisation
At 1 February 2023 269,127
Amortisation for year 132,882
At 31 January 2024 402,009
Net book value
At 31 January 2024 220,974
At 31 January 2023 154,821

OAKFIELD P.M. LIMITED (REGISTERED NUMBER: 03301783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 February 2023 210,047 589,330 117,837 917,214
Additions 1,888 114,247 22,573 138,708
At 31 January 2024 211,935 703,577 140,410 1,055,922
Depreciation
At 1 February 2023 178,746 415,499 42,335 636,580
Charge for year 26,120 29,689 23,978 79,787
At 31 January 2024 204,866 445,188 66,313 716,367
Net book value
At 31 January 2024 7,069 258,389 74,097 339,555
At 31 January 2023 31,301 173,831 75,502 280,634

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
Cost
At 1 February 2023 781
Disposals (781 )
At 31 January 2024 -
Net book value
At 31 January 2024 -
At 31 January 2023 781

7. DEBTORS
31.1.24 31.1.23
£    £   
Amounts falling due within one year:
Trade debtors 166,014 149,254
Other debtors 184,679 172,750
350,693 322,004

Amounts falling due after more than one year:
Amounts owed by associates 172,323 -

Aggregate amounts 523,016 322,004

OAKFIELD P.M. LIMITED (REGISTERED NUMBER: 03301783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts (see note 10) - 9,911
Trade creditors 32,916 14,484
Taxation and social security 184,709 194,062
Other creditors 70,575 207,055
288,200 425,512

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans (see note 10) - 22,337
Amounts owed to associates - 102,228
- 124,565

10. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - 9,911

Amounts falling due between one and two years:
Bank loans - 1-2 years - 10,162

Amounts falling due between two and five years:
Bank loans - 2-5 years - 12,175

11. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax
Accelerated capital allowances 76,497 53,320

Deferred
tax
£   
Balance at 1 February 2023 53,320
Provided during year 23,177
Balance at 31 January 2024 76,497

OAKFIELD P.M. LIMITED (REGISTERED NUMBER: 03301783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100
10 A Ordinary £1 10 10
1 B Ordinary £1 1 1
9 C Ordinary £1 9 9
120 120