Company registration number 12292948 (England and Wales)
OAK LOFT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
OAK LOFT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OAK LOFT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
16,020
19,224
Current assets
Debtors
5
22,964
3,061
Cash at bank and in hand
4,524
6,889
27,488
9,950
Creditors: amounts falling due within one year
6
(4,491)
(1,813)
Net current assets
22,997
8,137
Net assets
39,017
27,361
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
38,017
26,361
Total equity
39,017
27,361
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 23 April 2025 and are signed on its behalf by:
Mr J B Dufty
Mr S C Cann
Director
Director
Company registration number 12292948 (England and Wales)
OAK LOFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Oak Loft Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Railway Station, Sampford Courtenay, Okehampton, Devon, EX20 2SN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
Oak Loft Limited is a wholly owned subsidiary of C&D Furnishings Ltd.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation.
Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Oak Loft Brand
Straight line basis over 10 years
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Computers
33% per annum on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
OAK LOFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
370
Depreciation and impairment
At 1 January 2024 and 31 December 2024
370
Carrying amount
At 31 December 2024
At 31 December 2023
OAK LOFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
4
Intangible fixed assets
Oak Loft Brand
£
Cost
At 1 January 2024 and 31 December 2024
32,040
Amortisation and impairment
At 1 January 2024
12,816
Amortisation charged for the year
3,204
At 31 December 2024
16,020
Carrying amount
At 31 December 2024
16,020
At 31 December 2023
19,224
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
22,964
3,061
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
178
Taxation and social security
3,441
Other creditors
1,050
1,635
4,491
1,813