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Registered number: 08240790
Oakthorpe Practices Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
H F Singh & Co Limited
Chartered Accountants and Chartered Tax Advisers
3 St Denis Close
Huntercombe Lane North
Maidenhead
SL6 0FH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08240790
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 88,558 94,220
88,558 94,220
CURRENT ASSETS
Stocks 6 4,250 3,340
Debtors 7 118,206 211,616
Investments 8 140,000 -
Cash at bank and in hand 303,435 99,285
565,891 314,241
Creditors: Amounts Falling Due Within One Year 9 (120,012 ) (44,231 )
NET CURRENT ASSETS (LIABILITIES) 445,879 270,010
TOTAL ASSETS LESS CURRENT LIABILITIES 534,437 364,230
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,096 ) (7,045 )
NET ASSETS 528,341 357,185
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 528,340 357,184
SHAREHOLDERS' FUNDS 528,341 357,185
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Page 2
For the year ending 31 March 2025 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 her 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
Ms Seetal Patel
Director
31st July 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Oakthorpe Practices Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08240790 . The registered office is 27 Oakthorpe Road, Oxford, OX2 7BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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. 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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. 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% per annum on the reducing balance basis
Motor Vehicles 20% per annum on the reducing balance basis
Fixtures & Fittings 20% per annum on the reducing balance basis
Computer Equipment 20% per annum on the reducing balance basis
2.5. 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.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 455,000
As at 31 March 2025 455,000
Amortisation
As at 1 April 2024 455,000
As at 31 March 2025 455,000
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2024 164,364 26,377 190,741
Additions 3,465 - 3,465
As at 31 March 2025 167,829 26,377 194,206
Depreciation
As at 1 April 2024 75,220 21,301 96,521
Provided during the period 8,112 1,015 9,127
As at 31 March 2025 83,332 22,316 105,648
Net Book Value
As at 31 March 2025 84,497 4,061 88,558
As at 1 April 2024 89,144 5,076 94,220
6. Stocks
2025 2024
£ £
Materials 4,250 3,340
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 11,459 10,467
Prepayments and accrued income 11,747 1,149
Other debtors 95,000 200,000
118,206 211,616
8. Current Asset Investments
2025 2024
£ £
Short term deposits 140,000 -
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9. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 38,413 19,214
Corporation tax 68,756 6,509
Other taxes and social security 1,131 156
Net wages 9,626 7,108
Other creditors - 9,325
Pension creditor 2,086 1,919
120,012 44,231
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
2025 2024
£ £
Ms Seetal Patel 30,000 32,000
12. Ultimate Controlling Party
The company's ultimate controlling party is Ms Seetal Patel by virtue of her ownership of 100% of the issued share capital in the company.
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