2 2 Oakmax Limited 13076542 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is importation and sale of wood. Digita Accounts Production Advanced 6.30.9574.0 true true 13076542 2024-01-01 2024-12-31 13076542 2024-12-31 13076542 core:CurrentFinancialInstruments 2024-12-31 13076542 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 13076542 bus:SmallEntities 2024-01-01 2024-12-31 13076542 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 13076542 bus:FilletedAccounts 2024-01-01 2024-12-31 13076542 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13076542 bus:RegisteredOffice 2024-01-01 2024-12-31 13076542 bus:Director1 2024-01-01 2024-12-31 13076542 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13076542 bus:Agent1 2024-01-01 2024-12-31 13076542 countries:AllCountries 2024-01-01 2024-12-31 13076542 2023-01-01 2023-12-31 13076542 2023-12-31 13076542 core:CurrentFinancialInstruments 2023-12-31 13076542 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 13076542

Oakmax Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Oakmax Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Oakmax Limited

Company Information
__________________________________________________________________________

Director

M Dumitriu

Registered office

Abbey House
342 Regents Park Road
London
N3 2LJ


 

Accountants

Brooks Green
Chartered AccountantsAbbey House
342 Regents Park Road
London
N3 2LJ

 

Oakmax Limited

(Registration number: 13076542)
Balance Sheet as at 31 December 2024
__________________________________________________________________________

Note

2024
£

2023
£

           

Current assets

   

 

Stocks

3

 

60,124

 

31,922

Debtors

4

 

10,634

 

4,575

Cash at bank and in hand

   

81,008

 

39,410

   

151,766

 

75,907

Creditors: Amounts falling due within one year

5

 

(97,252)

 

(67,336)

Net assets

   

54,514

 

8,571

Capital and reserves

   

 

Called up share capital

6

100

 

100

 

Retained earnings

54,414

 

8,471

 

Shareholders' funds

   

54,514

 

8,571

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 March 2025
 

.........................................
M Dumitriu
Director

 

Oakmax Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Oakmax Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
__________________________________________________________________________

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Oakmax Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
__________________________________________________________________________

3

Stocks

2024
£

2023
£

Finished goods and goods for resale

60,124

31,922

 

Oakmax Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
__________________________________________________________________________

4

Debtors

Current

2024
£

2023
£

Trade debtors

10,630

4,575

Other debtors

4

-

 

10,634

4,575

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

42,224

41,140

Taxation and social security

49,036

24,386

Accruals and deferred income

5,992

1,800

Other creditors

-

10

97,252

67,336

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100