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Oxfordshire Groundworks Ltd
Filleted accounts
30 April 2024
Company registration number: 14828696
Oxfordshire Groundworks Ltd
Directors and other information
Directors C Smith
D Utley
Company number 14828696
Registered office 1 Old Timber Yard
Cholsey
Wallingford
Oxfordshire
OX10 9SD
Accountants Cox Hinkins & Co. Limited
Accountants and Taxation Advisors
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Oxfordshire Groundworks Ltd
Balance sheet
30th April 2024
30/04/24
Note £ £
Fixed assets
Tangible assets 5 4,916
_______
4,916
Current assets
Debtors 6 23,504
Cash at bank and in hand 19,376
_______
42,880
Creditors: amounts falling due
within one year 7 ( 34,690)
_______
Net current assets 8,190
_______
Net assets 13,106
_______
Capital and reserves
Called up share capital 8 2
Profit and loss account 13,104
_______
Shareholders funds 13,106
_______
For the period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 January 2025 , and are signed on behalf of the board by:
C Smith
Director
Company registration number: 14828696
Oxfordshire Groundworks Ltd
Notes to the financial statements
Period ended 30th April 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 1 Old Timber Yard, Cholsey, Wallingford, Oxfordshire, OX10 9SD. The company's principal activity during the period was that of construction and groundworks.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any Tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 26th April 2023 - - -
Additions 933 4,300 5,233
_______ _______ _______
At 30th April 2024 933 4,300 5,233
_______ _______ _______
Depreciation
At 26th April 2023 - - -
Charge for the year 102 215 317
_______ _______ _______
At 30th April 2024 102 215 317
_______ _______ _______
Carrying amount
At 30th April 2024 831 4,085 4,916
_______ _______ _______
6. Debtors
30/04/24
£
Trade debtors 784
Other debtors 22,720
_______
23,504
_______
7. Creditors: amounts falling due within one year
30/04/24
£
Trade creditors 294
Social security and other taxes 6,760
Other creditors 27,636
_______
34,690
_______
8. Called up share capital
Issued, called up and fully paid
30/04/24
No £
Ordinary shares of £ 1.00 each 2 2
_______ _______