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Company Registration No. 06290503 (England and Wales)
Oak Community Development Unaudited accounts for the year ended 30 June 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Oak Community Development for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oak Community Development for the year ended 30 June 2024 as set out on pages 3 - 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Sigma Chartered Accountants Chartered Accountants J O Hunter House 409 Bradford Road Huddersfield West Yorkshire HD2 2RB 24 March 2025
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Oak Community Development Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,760 
649 
Current assets
Debtors
37 
56 
Cash at bank and in hand
119,228 
136,107 
119,265 
136,163 
Creditors: amounts falling due within one year
(97,079)
(93,480)
Net current assets
22,186 
42,683 
Total assets less current liabilities
23,946 
43,332 
Provisions for liabilities
Deferred tax
(335)
(123)
Net assets
23,611 
43,209 
Capital and reserves
Profit and loss account
23,611 
43,209 
Shareholders' funds
23,611 
43,209 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by
Mr Kashaff Feroze Director Company Registration No. 06290503
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Oak Community Development Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Oak Community Development is a private company, limited by shares, registered in England and Wales, registration number 06290503. The registered office is Earl Business Centre 3rd Floor, Dowry Street, Oldham, OL8 2PF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost.
Computer equipment
20% on cost.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Oak Community Development Notes to the Accounts for the year ended 30 June 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 July 2023
25,508 
Additions
2,073 
At 30 June 2024
27,581 
Depreciation
At 1 July 2023
24,859 
Charge for the year
962 
At 30 June 2024
25,821 
Net book value
At 30 June 2024
1,760 
At 30 June 2023
649 
5
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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