Registered number
06237508
Oakwell Home Improvements Ltd
Unaudited Filleted Accounts For The Year Ended
31 August 2024
Oakwell Home Improvements Ltd
Registered number: 06237508
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,763 18,071
14,763 18,071
Current assets
Debtors 4 74,421 36,344
Cash at bank and in hand 110,235 111,654
184,656 147,998
Creditors: amounts falling due within one year 5 (29,096) (24,063)
Net current assets 155,560 123,935
Total assets less current liabilities 170,323 142,006
Provisions for liabilities (2,818) (3,522)
Net assets 167,505 138,484
Capital and reserves
Called up share capital 4 2
Profit and loss account 167,501 138,482
Shareholders' funds 167,505 138,484
The directors are 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 directors acknowledge their 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.
L A Laidler
Director
Approved by the board on 2 May 2025
Oakwell Home Improvements Ltd
Notes to the Accounts
for the year ended 31 August 2024
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.
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Plant and machinery 20% reducing balance
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. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 5,792 35,370 41,162
Additions 444 - 444
At 31 August 2024 6,236 35,370 41,606
Depreciation
At 1 September 2023 3,424 19,666 23,090
Charge for the year 577 3,176 3,753
At 31 August 2024 4,001 22,842 26,843
Net book value
At 31 August 2024 2,235 12,528 14,763
At 31 August 2023 2,367 15,704 18,071
4 Debtors 2024 2023
£ £
Trade debtors 8,672 2,230
Other debtors 65,749 34,114
74,421 36,344
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 19,024 1,991
Taxation and social security costs 8,911 20,567
Other creditors 1,161 1,505
29,096 24,063
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Directors loans 32,730 44,648 (23,170) 54,208
32,730 44,648 (23,170) 54,208
7 Other information
Oakwell Home Improvements Ltd is a private company limited by shares and incorporated in England. Its registered office is:
23 Cliftonville Gardens
Whitley Bay
Tyne And Wear
NE26 1QJ
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