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Registered Number: 11632696
England and Wales

 

 

 

OAKFIELD LABS LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
  2024   2023
    £ £   £ £
Fixed assets   2,272      2,111 
Current assets 52,598      45,537   
Creditors: amount falling due within one year (51,295)     (23,419)  
Net current assets   1,303      22,118 
Total assets less current liabilities   3,575      24,229 
Net assets   3,575      24,229 
 

         
Capital and reserves   3,575      24,229 
 
NOTES TO THE ACCOUNTS

General Information
Oakfield Labs Ltd is a private company, limited by shares, registered in England and Wales, registration number 11632696, registration address 4 Oakfield Road, Wollaton, Nottingham, NG8 2SQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 November 2023 564    5,026    5,590 
Additions   916    916 
Disposals    
At 31 October 2024 564    5,942    6,506 
Depreciation
At 01 November 2023 309    3,170    3,479 
Charge for year 62    693    755 
On disposals    
At 31 October 2024 371    3,863    4,234 
Net book values
Closing balance as at 31 October 2024 193    2,079    2,272 
Opening balance as at 01 November 2023 255    1,856    2,111 


3.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).


For the year ended 31 October 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.

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.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 23 July 2025 and were signed on its behalf by:


--------------------------------
Michael O'loughlin
Director
1