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REGISTERED NUMBER: 02704178 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Oakway Limited

Oakway Limited (Registered number: 02704178)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oakway Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mrs G B McNeela





SECRETARY: J T McNeela





REGISTERED OFFICE: 20 Crockwell Street
Bodmin
Cornwall
PL31 2DS





REGISTERED NUMBER: 02704178 (England and Wales)





ACCOUNTANTS: Derek Cousens Ltd
Chartered Accountants
20 Crockwell Street
Bodmin
Cornwall
PL31 2DS

Oakway Limited (Registered number: 02704178)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 719,182 629,922
Investments 5 34,600 -
753,782 629,922

CURRENT ASSETS
Stocks 456,726 294,711
Debtors 6 1,933,454 2,096,982
Cash at bank 5,406,158 4,243,804
7,796,338 6,635,497
CREDITORS
Amounts falling due within one year 7 1,512,094 1,765,297
NET CURRENT ASSETS 6,284,244 4,870,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,038,026

5,500,122

PROVISIONS FOR LIABILITIES 128,848 160,179
NET ASSETS 6,909,178 5,339,943

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 6,908,778 5,339,543
SHAREHOLDERS' FUNDS 6,909,178 5,339,943

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Oakway Limited (Registered number: 02704178)

Balance Sheet - continued
30 April 2024


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 director and authorised for issue on 15 January 2025 and were signed by:





Mrs G B McNeela - Director


Oakway Limited (Registered number: 02704178)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Oakway 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 25% on reducing balance and 10% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 19 ) .

Oakway Limited (Registered number: 02704178)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 - 1,679,309 1,679,309
Additions 184,803 24,003 208,806
At 30 April 2024 184,803 1,703,312 1,888,115
DEPRECIATION
At 1 May 2023 - 1,049,387 1,049,387
Charge for year - 119,546 119,546
At 30 April 2024 - 1,168,933 1,168,933
NET BOOK VALUE
At 30 April 2024 184,803 534,379 719,182
At 30 April 2023 - 629,922 629,922

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Additions 34,600 -

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 499,108 858,685
Other debtors 1,370,672 1,174,623
1,869,780 2,033,308

Amounts falling due after more than one year:
Amounts owed by participating interests 63,674 63,674

Aggregate amounts 1,933,454 2,096,982

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 288,298 454,553
Taxation and social security 1,214,278 1,275,953
Other creditors 9,518 34,791
1,512,094 1,765,297

Oakway Limited (Registered number: 02704178)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mrs G B McNeela
Balance outstanding at start of year 847,157 718,007
Amounts advanced 156,755 144,055
Amounts repaid (10,852 ) (14,905 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 993,060 847,157

The loan to the director accrue interest at HM Revenue and Customs official rate of interest.

9. RELATED PARTY DISCLOSURES

Oakway Ltd advanced £39,252 to a shareholder with a significant holding. The loan accrues interest at HM Revenue and Customs official rate and is repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The controlling party is the director and her close family.