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REGISTERED NUMBER: 08597493 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Oakwood Specialist Services Limited

Oakwood Specialist Services Limited (Registered number: 08597493)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Oakwood Specialist Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D N C Garman
B E Didier





REGISTERED OFFICE: 7A Hoxton Road
Torquay
Devon
TQ1 1JG





REGISTERED NUMBER: 08597493 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Oakwood Specialist Services Limited

The following reproduces the text of the report prepared for the directors 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 Income Statement and certain other primary statements and the Report of the Directors 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 Oakwood Specialist Services Limited for the year ended 31 December 2015 which comprise the Profit and Loss Account, the Balance Sheet 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Oakwood Specialist Services Limited, as a body, in accordance with our terms of engagement. Our work has been under taken solely to prepare for your approval the financial statements of Oakwood Specialist Services Limited and state those matters that we have agreed to state to the Board of Directors of Oakwood Specialist Services Limited, as a body, in this report in accordance with AAF2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Oakwood Specialist Services 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 loss of Oakwood Specialist Services Limited. You consider that Oakwood Specialist Services 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 Oakwood Specialist Services 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


4 December 2024

Oakwood Specialist Services Limited (Registered number: 08597493)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,487 34,070

CURRENT ASSETS
Debtors 5 175,092 162,441
Cash at bank 16,284 21,265
191,376 183,706
CREDITORS
Amounts falling due within one year 6 503,921 484,833
NET CURRENT LIABILITIES (312,545 ) (301,127 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(265,058

)

(267,057

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (265,158 ) (267,157 )
SHAREHOLDERS' FUNDS (265,058 ) (267,057 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2024 and were signed on its behalf by:





D N C Garman - Director


Oakwood Specialist Services Limited (Registered number: 08597493)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Oakwood Specialist Services 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.

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.

The Directors have prepared the accounts on a going concern basis. At the period end the company had net liabilities of £312,545 (2023: £301.127). The Directors believe the going concern basis is appropriate as they will continue to receive support from the parent company.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

In respect of long-term contracts for on-going services, turnover represents the value of work done during the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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 - 20% on reducing balance
Office equipment - 20% on reducing balance

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Oakwood Specialist Services Limited (Registered number: 08597493)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Amounts recoverable on contracts
Amounts recoverable on contracts, which are included in debtors are stated at the net sales value of work done after provisions for contingencies and anticipated future losses on contracts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2023 72,522 11,020 14,000 97,542
Additions 4,424 2,979 15,000 22,403
Disposals (8,589 ) - - (8,589 )
At 31 March 2024 68,357 13,999 29,000 111,356
DEPRECIATION
At 1 April 2023 55,725 7,747 - 63,472
Charge for year 4,244 1,250 2,800 8,294
Eliminated on disposal (7,897 ) - - (7,897 )
At 31 March 2024 52,072 8,997 2,800 63,869
NET BOOK VALUE
At 31 March 2024 16,285 5,002 26,200 47,487
At 31 March 2023 16,797 3,273 14,000 34,070

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 38,667 45,537
Amounts owed by group undertakings 99,290 96,456
Amounts recoverable on contracts 21,107 167
Other debtors 16,028 20,281
175,092 162,441

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 11,110 11,303
Amounts owed to group undertakings 423,293 406,112
Taxation and social security 41,348 40,501
Other creditors 28,170 26,917
503,921 484,833

Oakwood Specialist Services Limited (Registered number: 08597493)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
60 Ordinary A 1 60 60
40 Ordinary B 1 40 40
100 100