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Registered number: 09484180
Oatway Design Ltd
Financial Statements
For The Year Ended 30 June 2024
3 Stoke Damerel Business Ctr
5 Church Street
Plymouth
Devon
PL3 4DT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09484180
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,868 3,806
6,868 3,806
CURRENT ASSETS
Debtors 5 26,665 23,562
Cash at bank and in hand 73,181 94,061
99,846 117,623
Creditors: Amounts Falling Due Within One Year 6 (25,774 ) (49,527 )
NET CURRENT ASSETS (LIABILITIES) 74,072 68,096
TOTAL ASSETS LESS CURRENT LIABILITIES 80,940 71,902
NET ASSETS 80,940 71,902
CAPITAL AND RESERVES
Called up share capital 7 11 11
Profit and Loss Account 80,929 71,891
SHAREHOLDERS' FUNDS 80,940 71,902
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Stephan Oatway
Director
29 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Oatway Design Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09484180 . The registered office is Scott Lodge, Scott Road, Plymouth, PL2 3DU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing Balance
Fixtures & Fittings 33% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of income and retained earnings because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 6,595 4,018 10,613
Additions 3,471 566 4,037
As at 30 June 2024 10,066 4,584 14,650
Depreciation
As at 1 July 2023 3,323 3,484 6,807
Provided during the period 621 354 975
As at 30 June 2024 3,944 3,838 7,782
Net Book Value
As at 30 June 2024 6,122 746 6,868
As at 1 July 2023 3,272 534 3,806
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 26,665 23,562
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,672 5,760
Corporation tax 13,225 19,171
Other taxes and social security 545 -
VAT 4,250 7,417
Accruals and deferred income 1,600 1,300
Director's loan account 482 15,879
25,774 49,527
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 11 11
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