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REGISTERED NUMBER: 03122533 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 November 2023

for

OAKRAPID LIMITED

OAKRAPID LIMITED (REGISTERED NUMBER: 03122533)

Contents of the Financial Statements
for the year ended 30 November 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


OAKRAPID LIMITED

Company Information
for the year ended 30 November 2023







Director: G P York





Secretary: Mrs S York





Registered office: Unit 7
North Weylands Industrial Estate
Molesey Road
Walton on Thames
Surrey
KT12 3PL





Registered number: 03122533 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Oakrapid Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oakrapid Limited for the year ended 30 November 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Oakrapid Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oakrapid Limited and state those matters that we have agreed to state to the director of Oakrapid Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oakrapid Limited and its director for our work or for this report.

It is your duty to ensure that Oakrapid Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oakrapid Limited. You consider that Oakrapid Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oakrapid Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA


30 August 2024

OAKRAPID LIMITED (REGISTERED NUMBER: 03122533)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 92,184 97,034
92,184 97,034

Current assets
Stocks 26,250 35,000
Debtors 6 107,062 97,582
Cash at bank and in hand 503,067 667,417
636,379 799,999
Creditors
Amounts falling due within one year 7 274,095 250,396
Net current assets 362,284 549,603
Total assets less current liabilities 454,468 646,637

Provisions for liabilities 8 8,849 9,155
Net assets 445,619 637,482

Capital and reserves
Called up share capital 9 76,000 76,000
Retained earnings 369,619 561,482
Shareholders' funds 445,619 637,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

OAKRAPID LIMITED (REGISTERED NUMBER: 03122533)

Balance Sheet - continued
30 November 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





G P York - Director


OAKRAPID LIMITED (REGISTERED NUMBER: 03122533)

Notes to the Financial Statements
for the year ended 30 November 2023


1. Statutory information

Oakrapid 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

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 1999, is being amortised
evenly over its estimated useful life of between five and twenty 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.
Freehold property - 1% straight line basis
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on cost and 25% on reducing balance
Motor vehicles - 25% on reducing balance

OAKRAPID LIMITED (REGISTERED NUMBER: 03122533)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


2. Accounting policies - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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 14 (2022 - 14 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 December 2022
and 30 November 2023 47,000
Amortisation
At 1 December 2022
and 30 November 2023 47,000
Net book value
At 30 November 2023 -
At 30 November 2022 -

OAKRAPID LIMITED (REGISTERED NUMBER: 03122533)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


5. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Cost
At 1 December 2022 22,500 196,687 83,051
Additions - 200 11,659
At 30 November 2023 22,500 196,887 94,710
Depreciation
At 1 December 2022 1,125 173,980 75,644
Charge for year 225 3,456 6,883
At 30 November 2023 1,350 177,436 82,527
Net book value
At 30 November 2023 21,150 19,451 12,183
At 30 November 2022 21,375 22,707 7,407

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 December 2022 232,616 - 534,854
Additions - 6,682 18,541
At 30 November 2023 232,616 6,682 553,395
Depreciation
At 1 December 2022 187,071 - 437,820
Charge for year 11,386 1,441 23,391
At 30 November 2023 198,457 1,441 461,211
Net book value
At 30 November 2023 34,159 5,241 92,184
At 30 November 2022 45,545 - 97,034

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 93,448 82,785
Other debtors 13,614 14,797
107,062 97,582

OAKRAPID LIMITED (REGISTERED NUMBER: 03122533)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 73,948 68,094
Amounts owed to group undertakings 79,351 79,351
Taxation and social security 106,195 84,992
Other creditors 14,601 17,959
274,095 250,396

8. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 8,849 9,155

Deferred
tax
£   
Balance at 1 December 2022 9,155
Accelerated capital allowances (306 )
Balance at 30 November 2023 8,849

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
76,000 Ordinary 1 76,000 76,000