OAKTREE ACCOUNTANCY (COCKERMOUTH) LIMITED
Registered number: 07227314
Balance Sheet
as at 30 April 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 - -
Tangible assets - -
- -
Current assets
Debtors 5 34,375 39,098
Cash at bank and in hand 4,381 6,285
38,756 45,383
Creditors: amounts falling due within one year 6 (18,101) (16,325)
Net current assets 20,655 29,058
Total assets less current liabilities 20,655 29,058
Net assets 20,655 29,058
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 19,655 28,058
Shareholders' funds 20,655 29,058
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Christopher Thomas Daniel Macleod
Director
Approved by the board on 11 May 2025
OAKTREE ACCOUNTANCY (COCKERMOUTH) LIMITED
Notes to the Accounts
for the year ended 30 April 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computers over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2024 20,000
At 30 April 2025 20,000
Amortisation
At 1 May 2024 20,000
At 30 April 2025 20,000
Net book value
At 30 April 2025 -
At 30 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Computers Total
£ £
Cost
At 1 May 2024 1,002 1,002
At 30 April 2025 1,002 1,002
Depreciation
At 1 May 2024 1,002 1,002
Charge for the year - -
At 30 April 2025 1,002 1,002
Net book value
At 30 April 2025 - -
At 30 April 2024 - -
5 Debtors 2025 2024
£ £
Trade debtors - 1,762
Mr. Christopher Thomas Daniel Macleod 31,312 26,609
Mrs. Claire Helen Macleod 2,000 10,000
Prepayments 1,063 727
34,375 39,098
6 Creditors: amounts falling due within one year 2025 2024
£ £
Corporation tax 10,797 9,976
VAT - 2,510
Accruals 2,437 2,450
Deferred income 4,867 1,389
18,101 16,325
7 Ultimate controlling party and related party transactions
The company was under the control of Mr. Christopher Thomas Daniel Macleod throughout the current and previous period. Mrs. Claire Helen Macleod is the director's wife. Mr. Thomas Paul Macleod is the director's son.
No transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard for Smaller Entities (effective April 2008), except for those disclosed below.
2025 2024
£ £
Equity dividends paid to Mr. Christopher Thomas Daniel Macleod 41,500 50,500
Equity dividends paid to Mrs. Claire Helen Macleod 10,000 -
Equity dividends paid to Mr. Thomas Paul Macleod 500 1,000
Balance owing (to) / from Mr. Christopher Thomas Daniel Macleod 31,312 26,609
Balance owing (to) / from Mrs. Claire Helen Macleod 2,000 10,000
Interest at 2.25% per annum is charged on balances over £10,000 owed to the company.
22 Other information
OAKTREE ACCOUNTANCY (COCKERMOUTH) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
27 Oaktree Crescent
Cockermouth
Cumbria
CA13 9HR
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