Registered number
03776471
Oakswell Ltd
Filleted Accounts
31 May 2024
Oakswell Ltd
Registered number: 03776471
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,456 10,928
Current assets
Stocks 53,550 44,650
Debtors 4 - 9,601
Cash at bank and in hand 46,827 40,151
100,377 94,402
Creditors: amounts falling due within one year 5 (8,130) (21,638)
Net current assets 92,247 72,764
Net assets 103,703 83,692
Capital and reserves
Called up share capital 100 100
Profit and loss account 103,603 83,592
Shareholders' funds 103,703 83,692
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G E Richards
Director
Approved by the board on 2 February 2025
Oakswell Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 71,342
Additions 2,167
At 31 May 2024 73,509
Depreciation
At 1 June 2023 60,414
Charge for the year 1,639
At 31 May 2024 62,053
Net book value
At 31 May 2024 11,456
At 31 May 2023 10,928
4 Debtors 2024 2023
£ £
Trade debtors - 9,601
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 13,374
Taxation and social security costs 11,613 10,884
Other creditors (3,483) (2,620)
8,130 21,638
6 Other information
Oakswell Ltd is a private company limited by shares and incorporated in England. Its registered office is:
22a Burton Street
Melton Mowbray
Leics
LE13 1AF
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