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Registration number: 14282584

Oakleaf Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Oakleaf Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Oakleaf Services Limited

Company Information

Directors

Mr M Loader

Mr M P Edgell

Registered office

Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

Accountants

Numeric Accounting
Chartered Certified AccountantsSuite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Oakleaf Services Limited

(Registration number: 14282584)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

4,199

8,397

Tangible assets

5

67,413

67,759

 

71,612

76,156

Current assets

 

Stocks

6

-

1,700

Debtors

7

8,221

5,181

Cash at bank and in hand

 

63,253

75,089

 

71,474

81,970

Creditors: Amounts falling due within one year

8

(70,558)

(79,521)

Net current assets

 

916

2,449

Total assets less current liabilities

 

72,528

78,605

Creditors: Amounts falling due after more than one year

8

(8,750)

(20,000)

Provisions for liabilities

(12,809)

(13,688)

Net assets

 

50,969

44,917

Capital and reserves

 

Called up share capital

9

41

41

Retained earnings

50,928

44,876

Shareholders' funds

 

50,969

44,917

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Oakleaf Services Limited

(Registration number: 14282584)
Balance Sheet as at 31 August 2024 (continued)

Approved and authorised by the Board on 25 April 2025 and signed on its behalf by:
 

.........................................
Mr M Loader
Director

 

Oakleaf Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

These financial statements were authorised for issue by the Board on 25 April 2025.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

 

Oakleaf Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% Reducing Balance

Motor Vehicles

20% Reducing Balance

Office Equipment

33% Striaght Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Oakleaf Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

3 Years


Assets on finance lease and hire purchase

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives. Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.

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.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Oakleaf Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

12,594

12,594

At 31 August 2024

12,594

12,594

Amortisation

At 1 September 2023

4,197

4,197

Amortisation charge

4,198

4,198

At 31 August 2024

8,395

8,395

Carrying amount

At 31 August 2024

4,199

4,199

At 31 August 2023

8,397

8,397

 

Oakleaf Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

68,345

-

11,225

79,570

Additions

11,000

4,674

10,250

25,924

Disposals

(17,500)

-

-

(17,500)

At 31 August 2024

61,845

4,674

21,475

87,994

Depreciation

At 1 September 2023

11,491

-

320

11,811

Charge for the year

11,311

453

2,596

14,360

Eliminated on disposal

(5,590)

-

-

(5,590)

At 31 August 2024

17,212

453

2,916

20,581

Carrying amount

At 31 August 2024

44,633

4,221

18,559

67,413

At 31 August 2023

56,854

-

10,905

67,759

Included within the net book value of £44,633 (2023 - £56,854) is £20,000 (2024 - £39,583) relating to plant & machinery held under hire purchase agreements.

6

Stocks

2024
£

2023
£

Work in progress

-

1,700

7

Debtors

 

Oakleaf Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

7

Debtors (continued)

Current

2024
£

2023
£

Trade debtors

2,864

2,788

Prepayments

4,378

2,393

Other debtors

979

-

 

8,221

5,181

 

Oakleaf Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

5,000

7,500

Trade creditors

 

(690)

2,649

Taxation and social security

 

11,003

16,469

Accruals and deferred income

 

4,683

2,113

Other creditors

 

50,562

50,790

 

70,558

79,521

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

8,750

20,000

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

20

20

20

20

Ordinary B of £1 each

21

21

21

21

41

41

41

41

10

Loans and borrowings

Non-current loans and borrowings

 

Oakleaf Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

10

Loans and borrowings (continued)

2024
£

2023
£

Hire purchase contracts

8,750

20,000

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

5,000

7,500

11

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £50.00 (2023 - £100.00) per each Ordinary A

1,000

2,000

Interim dividend of £975.38 (2023 - £95.24) per each Ordinary B

20,483

2,000

21,483

4,000

12

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Mr M P Edgell

The loans are interest free with no fixed date of repayment.

(20,729)

30,528

(34,200)

(24,401)

Mr M Loader

The loans are interest free with no fixed date of repayment.

(30,061)

4,901

(1,000)

(26,160)

Directors' remuneration

The directors' remuneration for the year was as follows:

 

Oakleaf Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

12

Related party transactions (continued)

2024
£

2023
£

Remuneration

13,718

5,237