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REGISTERED NUMBER: 08143127 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

PHILIP OAKLEY DESIGN LTD

PHILIP OAKLEY DESIGN LTD (REGISTERED NUMBER: 08143127)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PHILIP OAKLEY DESIGN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr P A W Oakley
Ms P M O Yip





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 08143127 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

PHILIP OAKLEY DESIGN LTD (REGISTERED NUMBER: 08143127)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 323,581 323,563
323,581 323,563

CURRENT ASSETS
Stocks 6 36,950 36,950
Cash at bank 1,878 4,183
38,828 41,133
CREDITORS
Amounts falling due within one year 7 461,056 436,054
NET CURRENT LIABILITIES (422,228 ) (394,921 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(98,647

)

(71,358

)

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (98,747 ) (71,458 )
SHAREHOLDERS' FUNDS (98,647 ) (71,358 )

PHILIP OAKLEY DESIGN LTD (REGISTERED NUMBER: 08143127)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 21 March 2025 and were signed on its behalf by:





Mr P A W Oakley - Director


PHILIP OAKLEY DESIGN LTD (REGISTERED NUMBER: 08143127)

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


1. STATUTORY INFORMATION

Philip Oakley Design Ltd 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.

GOING CONCERN
The company's balance sheet shows a net deficit shareholders fund position. However, the director's have received confirmation from the shareholders of their continued financial support for the foreseeable future and for at least twelve months from the date of signature of these accounts.

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

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance

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

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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

PHILIP OAKLEY DESIGN LTD (REGISTERED NUMBER: 08143127)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 August 2023
and 31 July 2024 10,000
Amortisation
At 1 August 2023
and 31 July 2024 10,000
Net book value
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
Cost
At 1 August 2023 321,566 20,165 341,731
Additions - 690 690
At 31 July 2024 321,566 20,855 342,421
Depreciation
At 1 August 2023 - 18,168 18,168
Charge for year - 672 672
At 31 July 2024 - 18,840 18,840
Net book value
At 31 July 2024 321,566 2,015 323,581
At 31 July 2023 321,566 1,997 323,563

6. STOCKS
31.7.24 31.7.23
£    £   
Stocks and WIP 36,950 36,950

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 330 204
Taxation and social security 39 1,545
Other creditors 460,687 434,305
461,056 436,054

PHILIP OAKLEY DESIGN LTD (REGISTERED NUMBER: 08143127)

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


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100