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Company Registration No. 08214961 (England and Wales)
Oak Fine Art Services Ltd Unaudited accounts for the year ended 30 September 2025
Oak Fine Art Services Ltd Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
- 2 -
Oak Fine Art Services Ltd Company Information for the year ended 30 September 2025
Directors
Patrick John Hannan Orlando Engell Athill
Secretary
Patrick John Hannan
Company Number
08214961 (England and Wales)
Registered Office
51 Halsmere Road London SE5 9JQ
Accountants
Barnes & Scott 86-90 Paul Street London EC2A 4NE
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Oak Fine Art Services Ltd for the year ended 30 September 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oak Fine Art Services Ltd for the year ended 30 September 2025 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Oak Fine Art Services Ltd, as a body, in accordance with the terms of our engagement letter dated 23 August 2018. Our work has been undertaken solely to prepare for your approval the accounts of Oak Fine Art Services Ltd and state those matters that we have agreed to state to the Board of Directors of Oak Fine Art Services Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oak Fine Art Services Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Oak Fine Art Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Oak Fine Art Services Ltd. You consider that Oak Fine Art Services Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Oak Fine Art Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Barnes & Scott Chartered Accountants 86-90 Paul Street London EC2A 4NE 27 January 2026
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Oak Fine Art Services Ltd Statement of financial position as at 30 September 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
584,263
613,552
Current assets
Debtors
5
51,205
54,976
Cash at bank and in hand
65,078
38,644
116,283
93,620
Creditors: amounts falling due within one year
6
(143,517)
(131,640)
Net current liabilities
(27,234)
(38,020)
Total assets less current liabilities
557,029
575,532
Creditors: amounts falling due after more than one year
7
(238,210)
(280,065)
Provisions for liabilities
Deferred tax
(18,566)
(25,888)
Net assets
300,253
269,579
Capital and reserves
Called up share capital
8
10
10
Profit and loss account
300,243
269,569
Shareholders' funds
300,253
269,579
For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2026 and were signed on its behalf by
Patrick John Hannan Director Company Registration No. 08214961
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Oak Fine Art Services Ltd Notes to the Accounts for the year ended 30 September 2025
1
Statutory information
Oak Fine Art Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 08214961. The registered office is 51 Halsmere Road, London, SE5 9JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. Where necessary, comparative figures have been amended to conform with change in presentation in the current year.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment, except for land & buildings which is kept at its cost. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
held at cost
Plant & machinery
25% Straight Line
Motor vehicles
25% Straight Line
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Other tangible fixed assets
25% Straight Line
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Oak Fine Art Services Ltd Notes to the Accounts for the year ended 30 September 2025
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Charge on property
On 16 April 2015, a legal charge was registered between the company and Barclays Bank PLC on the leasehold property owned by the company as security for the mortgage loan. This was delivered pursuant to Chapter A1 Part 25 of the Companies Act 2006 on 29th April 2015.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
£
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 October 2024
510,000
3,203
109,081
75,987
4,601
702,872
Disposals
-
(489)
-
-
-
(489)
At 30 September 2025
510,000
2,714
109,081
75,987
4,601
702,383
Depreciation
At 1 October 2024
-
2,214
41,543
41,985
3,578
89,320
Charge for the year
-
122
21,878
6,325
475
28,800
At 30 September 2025
-
2,336
63,421
48,310
4,053
118,120
Net book value
At 30 September 2025
510,000
378
45,660
27,677
548
584,263
At 30 September 2024
510,000
989
67,538
34,002
1,023
613,552
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Oak Fine Art Services Ltd Notes to the Accounts for the year ended 30 September 2025
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
34,254
42,050
Accrued income and prepayments
16,951
12,926
51,205
54,976
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
42,651
42,550
VAT
23,425
25,052
Obligations under finance leases and hire purchase contracts
17,866
17,866
Trade creditors
263
6,285
Taxes and social security
49,474
28,950
Other creditors
358
693
Loans from directors
9,070
10,244
Accruals
410
-
143,517
131,640
Included in creditors are director loans of £9,070 (2024:£10,244). The director loans are measured at transaction price and are interest free and repayable on demand.
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
234,487
258,476
Obligations under finance leases and hire purchase contracts
3,723
21,589
238,210
280,065
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
9
Average number of employees
During the year the average number of employees was 5 (2024: 5).
- 8 -