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Registered number: 10326059
Oakwood Carpentry Services Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
LPTA Limited
Chartered Certified Accountants
Priory Place Priory Road
Tiptree
Colchester
Essex
CO5 0QE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10326059
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,279 16,599
13,279 16,599
CURRENT ASSETS
Stocks 5 6,842 6,115
Debtors 6 894 3,992
Cash at bank and in hand 2,542 2,525
10,278 12,632
Creditors: Amounts Falling Due Within One Year 7 (8,924 ) (10,890 )
NET CURRENT ASSETS (LIABILITIES) 1,354 1,742
TOTAL ASSETS LESS CURRENT LIABILITIES 14,633 18,341
Creditors: Amounts Falling Due After More Than One Year 8 (18,984 ) (22,778 )
NET LIABILITIES (4,351 ) (4,437 )
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account (4,361 ) (4,447 )
SHAREHOLDERS' FUNDS (4,351) (4,437)
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Surridge
Director
21st February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Oakwood Carpentry Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10326059 . The registered office is Priory Place Priory Road, Tiptree, Colchester, CO5 0QE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 26,950 708 27,658
As at 31 August 2024 26,950 708 27,658
Depreciation
As at 1 September 2023 10,470 589 11,059
Provided during the period 3,296 24 3,320
As at 31 August 2024 13,766 613 14,379
Net Book Value
As at 31 August 2024 13,184 95 13,279
As at 1 September 2023 16,480 119 16,599
5. Stocks
2024 2023
£ £
Work in progress 6,842 6,115
6. Debtors
2024 2023
£ £
Due within one year
S455 Tax Debtor 894 -
Director's loan account - 3,992
894 3,992
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 683 166
Bank loans and overdrafts 5,888 8,318
VAT 962 1,572
Accruals and deferred income 833 834
Director's loan account 558 -
8,924 10,890
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 18,984 22,778
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr Christopher Surridge by virtue of his ownership of 100% of the issued share capital in the company.
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