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REGISTERED NUMBER: 10834308 (England and Wales)















Report of the Director and

Financial Statements for the Year Ended 30 June 2024

for

Oakmount Financial Services Ltd

Oakmount Financial Services Ltd (Registered number: 10834308)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Report of the Director 2

Abridged Statement of Income and Retained Earnings 3

Abridged Balance Sheet 4

Notes to the Financial Statements 6


Oakmount Financial Services Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mrs P K Kaul





SECRETARY:





REGISTERED OFFICE: 36 Queens Road
Newbury
Berkshire
RG14 7NE





REGISTERED NUMBER: 10834308 (England and Wales)





ACCOUNTANTS: Accounting & Taxation Centre BTD
36 Queens Road
Newbury
Berkshire
RG14 7NE

Oakmount Financial Services Ltd (Registered number: 10834308)

Report of the Director
for the Year Ended 30 June 2024

The director presents her report with the financial statements of the company for the year ended 30 June 2024.

DIRECTOR
Mrs P K Kaul held office during the whole of the period from 1 July 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs P K Kaul - Director


8 November 2024

Oakmount Financial Services Ltd (Registered number: 10834308)

Abridged Statement of Income and Retained Earnings
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

GROSS PROFIT 108,264 170,297

Administrative expenses (106,210 ) (163,963 )
OPERATING PROFIT 4 2,054 6,334

Interest receivable and similar income 8 1
2,062 6,335

Interest payable and similar expenses (471 ) (510 )
PROFIT BEFORE TAXATION 1,591 5,825

Tax on profit - (1,363 )
PROFIT FOR THE FINANCIAL YEAR 1,591 4,462

Retained earnings at beginning of year 21,480 18,018

Dividends - (1,000 )

RETAINED EARNINGS AT END OF
YEAR

23,071

21,480

Oakmount Financial Services Ltd (Registered number: 10834308)

Abridged Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 4,395 2,532

CURRENT ASSETS
Debtors 12,918 15,081
Cash at bank 9,888 25,289
22,806 40,370
CREDITORS
Amounts falling due within one year 4,129 4,258
NET CURRENT ASSETS 18,677 36,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,072

38,644

CREDITORS
Amounts falling due after more than one
year

-

17,163
NET ASSETS 23,072 21,481

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 23,071 21,480
SHAREHOLDERS' FUNDS 23,072 21,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Oakmount Financial Services Ltd (Registered number: 10834308)

Abridged Balance Sheet - continued
30 June 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements were approved by the director and authorised for issue on 8 November 2024 and were signed by:





Mrs P K Kaul - Director


Oakmount Financial Services Ltd (Registered number: 10834308)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Oakmount Financial Services Ltd 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
Revenue 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 etc - 25% on reducing balance

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.

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 2 (2023 - 2 ) .

Oakmount Financial Services Ltd (Registered number: 10834308)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

30.6.24 30.6.23
£    £   
Depreciation - owned assets 1,465 845

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 July 2023 4,685
Additions 4,900
Disposals (2,578 )
At 30 June 2024 7,007
DEPRECIATION
At 1 July 2023 2,153
Charge for year 1,465
Eliminated on disposal (1,006 )
At 30 June 2024 2,612
NET BOOK VALUE
At 30 June 2024 4,395
At 30 June 2023 2,532