Registered number
05720497
Oakenhall Building Services Limited
Filleted Accounts
29 February 2024
Oakenhall Building Services Limited
Registered number: 05720497
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,503 22,379
Current assets
Debtors 4 218,444 264,593
Cash at bank and in hand 3,716 71,756
222,160 336,349
Creditors: amounts falling due within one year 5 (217,161) (210,747)
Net current assets 4,999 125,602
Total assets less current liabilities 22,502 147,981
Creditors: amounts falling due after more than one year 6 (22,497) (32,496)
Provisions for liabilities - (3,455)
Net assets 5 112,030
Capital and reserves
Called up share capital 2 2
Profit and loss account 3 112,028
Shareholders' funds 5 112,030
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Coxon
Director
Approved by the board on 24 October 2024
Oakenhall Building Services Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Tools and equipment 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Tools and equipment Motor vehicles Total
£ £ £
Cost
At 1 March 2023 63,958 12,345 76,303
Additions 958 - 958
At 29 February 2024 64,916 12,345 77,261
Depreciation
At 1 March 2023 47,529 6,395 53,924
Charge for the year 4,346 1,488 5,834
At 29 February 2024 51,875 7,883 59,758
Net book value
At 29 February 2024 13,041 4,462 17,503
At 28 February 2023 16,429 5,950 22,379
4 Debtors 2024 2023
£ £
Trade debtors - 56,104
Inter company loan 218,221 207,350
Other debtors and prepayments 223 1,139
218,444 264,593
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 7,642 7,559
Directors loan account 201,677 188,384
Taxation and social security costs 5,277 10,983
Other creditors and accruals 2,565 3,821
217,161 210,747
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,497 32,496
7 Other information
Oakenhall Building Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
7 Oakenhall Avenue
Hucknall
Nottinghamshire
NG15 7TF
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