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Registration number: 06088717

Oakville Contractors Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

image-name
 

Oakville Contractors Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Oakville Contractors Ltd

Company Information

Director

Mrs Claire Louise Eyre-Walker

Company secretary

Mr Robert Graham Eyre-Walker

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Oakville Contractors Ltd

(Registration number: 06088717)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

46,331

24,925

Current assets

 

Debtors

5

412,695

191,508

Cash at bank and in hand

 

348,555

337,730

 

761,250

529,238

Creditors: Amounts falling due within one year

6

(278,631)

(232,444)

Net current assets

 

482,619

296,794

Total assets less current liabilities

 

528,950

321,719

Creditors: Amounts falling due after more than one year

6

(17,593)

(27,173)

Provisions for liabilities

(8,370)

(5,618)

Net assets

 

502,987

288,928

Capital and Reserves

 

Called up share capital

2

2

Retained Earnings

502,985

288,926

Shareholders' funds

 

502,987

288,928

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges her 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 November 2024
 

 

Oakville Contractors Ltd

(Registration number: 06088717)
Balance Sheet as at 29 February 2024

.........................................
Mrs Claire Louise Eyre-Walker
Director

   
     
 

Oakville Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

The principal place of business is:
45 Drove Road
Portslade
Brighton
East Sussex
BN41 2PA

These financial statements were authorised for issue by the director on 20 November 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.

The financial statements are presented in Sterling, which is the functional currency of the company.

 

Oakville Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance

Motor vehicles

25% Reducing balance

Fixtures and Fittings

25% Reducing balance

Computer equipment

33% On cost

 

Oakville Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Oakville Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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 the director) during the year, analysed by category was as follows:

2024
 No.

2023
 No.

Administration and support

6

5

6

5

 

Oakville Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

7,207

44,222

4,285

55,714

Additions

11,661

26,490

-

38,151

Disposals

(1,132)

-

-

(1,132)

At 29 February 2024

17,736

70,712

4,285

92,733

Depreciation

At 1 March 2023

4,249

23,513

3,027

30,789

Charge for the year

4,630

11,801

314

16,745

Eliminated on disposal

(1,132)

-

-

(1,132)

At 29 February 2024

7,747

35,314

3,341

46,402

Carrying amount

At 29 February 2024

9,989

35,398

944

46,331

At 28 February 2023

2,958

20,709

1,258

24,925

5

Debtors

Current

2024
£

2023
£

Trade Debtors

200,590

162,137

Prepayments

-

1,310

Other debtors

212,105

28,061

 

412,695

191,508

 

Oakville Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

7

10,740

32,725

Trade Creditors

 

31,614

43,591

Social security and other taxes

 

82,208

64,086

Outstanding defined contribution pension costs

 

425

-

Other payables

 

25,183

11,050

Accrued expenses

 

14,071

15,905

Corporation tax liability

114,390

65,087

 

278,631

232,444

Due after one year

 

Loans and borrowings

7

17,593

27,173

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

17,593

27,173

 

Oakville Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

17,593

27,173

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,740

11,160

Other borrowings

-

21,565

10,740

32,725

 

Oakville Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Related party transactions

Loans to related parties

 

Key management

2024
£

Advanced

90,248

At end of period

90,248

Terms of loans to related parties

During the year, the company provided the director with an interest free and unsecured loan which is repayable on demand.
 

Loans from related parties

 

Key management

2024
£

2023
£

At start of period

1,333

1,374

Repaid

(1,333)

(41)

At end of period

-

1,333

Terms of loans from related parties

During the year, the director provided the company with an interest free and unsecured loan which is repayable on demand.