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REGISTERED NUMBER: 10066677 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

OAK FOSTERING LIMITED

OAK FOSTERING LIMITED (REGISTERED NUMBER: 10066677)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OAK FOSTERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs D Bavister
R Mills





REGISTERED OFFICE: Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY





BUSINESS ADDRESS: Suite 1 The Limes
12 Dunstable Street
Ampthill
Bedfordshire
MK45 2GJ





REGISTERED NUMBER: 10066677 (England and Wales)





ACCOUNTANTS: Rawlinson Pryde & Partners
Chartered Certified Accountants
Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY

OAK FOSTERING LIMITED (REGISTERED NUMBER: 10066677)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 70,699 5,504

CURRENT ASSETS
Debtors 5 93,007 60,577
Cash at bank and in hand 133,645 133,839
226,652 194,416
CREDITORS
Amounts falling due within one year 6 97,162 70,465
NET CURRENT ASSETS 129,490 123,951
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,189

129,455

CREDITORS
Amounts falling due after more than one
year

7

(69,259

)

(111,820

)

PROVISIONS FOR LIABILITIES (18,452 ) (1,046 )
NET ASSETS 112,478 16,589

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 112,328 16,439
112,478 16,589

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.

OAK FOSTERING LIMITED (REGISTERED NUMBER: 10066677)

BALANCE SHEET - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2025 and were signed on its behalf by:





Mrs D Bavister - Director


OAK FOSTERING LIMITED (REGISTERED NUMBER: 10066677)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Oak Fostering 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.

Turnover
Turnover represents net invoiced services provided in respect of foster care for looked after children and training for NVQ qualifications, excluding value added tax, which is recognised when services have been performed and an invoice has been raised in respect thereof.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & equipment - 10% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all liabilities.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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


OAK FOSTERING LIMITED (REGISTERED NUMBER: 10066677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant & and Computer
equipment fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 - 7,789 3,510 11,299
Additions 69,995 1,232 596 71,823
At 31 March 2024 69,995 9,021 4,106 83,122
DEPRECIATION
At 1 April 2023 - 4,140 1,655 5,795
Charge for year 4,083 1,693 852 6,628
At 31 March 2024 4,083 5,833 2,507 12,423
NET BOOK VALUE
At 31 March 2024 65,912 3,188 1,599 70,699
At 31 March 2023 - 3,649 1,855 5,504

OAK FOSTERING LIMITED (REGISTERED NUMBER: 10066677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 23,405 21,171
Thrive Outside Outdoor Learning Centre
Limited

45,642

17,526
Other debtor 5,000 -
Prepayments 18,960 21,880
93,007 60,577

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 5,625 5,625
Hire purchase contracts 2,120 -
Trade creditors 7,200 11,003
Tax 19,728 5,375
Social security and other taxes 6,674 4,270
Net wages 8,547 5,836
Pension payable 553 500
Other creditors 500 500
Directors' loan accounts 2,209 -
Accrued expenses 44,006 37,356
97,162 70,465

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-5 years 22,500 22,590
Bank loans more 5 yr by instal 5,404 10,222
Hire purchase contracts 41,355 -
Directors' loan accounts - 79,008
69,259 111,820

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,404 10,222
Hire purchase 26,943 -
32,347 10,222

8. OTHER FINANCIAL COMMITMENTS

The company had total financial commitments, guarantees and contingencies, contracted for but not provided for, at the balance sheet date of £62,251 (2023: £78,145) in relation to commitments under rental property leases.