Registration number:
Pine and Oak Furniture Limited
for the Year Ended 31 August 2025
Pine and Oak Furniture Limited
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Pine and Oak Furniture Limited
(Registration number: 05929556)
Balance Sheet as at 31 August 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
200 |
200 |
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Retained earnings |
667,393 |
661,049 |
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Shareholders' funds |
667,593 |
661,249 |
Pine and Oak Furniture Limited
(Registration number: 05929556)
Balance Sheet as at 31 August 2025
For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Pine and Oak Furniture Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Tax
The tax expense for the period comprises current tax payable.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Motor vehicles |
25% reducing balance basis |
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Plant and machinery |
25% reducing balance basis |
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Office equipment |
25% reducing balance basis |
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Fixtures and fittings |
25% reducing balance basis |
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Property improvements |
25% reducing balance basis |
Pine and Oak Furniture Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Pine and Oak Furniture Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Pine and Oak Furniture Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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Tangible assets |
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Land and buildings |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 September 2024 |
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Additions |
- |
- |
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- |
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Disposals |
- |
- |
- |
- |
( |
( |
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At 31 August 2025 |
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Depreciation |
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At 1 September 2024 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
- |
- |
( |
( |
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At 31 August 2025 |
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Carrying amount |
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At 31 August 2025 |
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At 31 August 2024 |
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Pine and Oak Furniture Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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Stocks |
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2025 |
2024 |
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Other inventories |
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Pine and Oak Furniture Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Hire purchase contracts |
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- |
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Non-current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
- |
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Hire purchase contracts |
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- |
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Pine and Oak Furniture Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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Financial commitments, guarantees and contingencies |
Amounts disclosed in the balance sheet
Included in the balance sheet are financial commitments of £20,000 (2024 - £52,500). This balance is in relation to the CBILS loan.
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Related party transactions |
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Transactions with directors |
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2025 |
At 1 September 2024 |
Advances to director |
Repayments by director |
At 31 August 2025 |
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D M Hulett |
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Directors loan account |
( |
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( |
( |
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T M Shepherd |
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Directors loan account |
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- |
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M J Hopkin |
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Directors loan account |
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- |
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2024 |
At 1 September 2023 |
Advances to director |
Repayments by director |
At 31 August 2024 |
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D M Hulett |
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Directors loan account |
( |
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( |
( |
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T M Shepherd |
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Directors loan account |
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- |
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M J Hopkin |
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Directors loan account |
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- |
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Pine and Oak Furniture Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
Summary of transactions with other related parties
Expenditure with and payables to related parties
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2025 |
Other related parties |
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Purchase of goods |
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2024 |
Other related parties |
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Purchase of goods |
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