Company No: 13138628 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3, 4	41,335		25,184
		41,335		25,184
Current assets
Stocks		500		500
Debtors	5	5,614		625
Cash at bank and in hand		35,126		30,645
		41,240		31,770
Creditors: amounts falling due within one year	6	( 33,785)		( 27,996)
Net current assets		7,455		3,774
Total assets less current liabilities		48,790		28,958
Creditors: amounts falling due after more than one year	7	( 23,606)		( 17,144)
Provision for liabilities		( 17,580)		( 4,468)
Net assets		7,604		7,346
Capital and reserves
Called-up share capital	9	1,000		1,000
Profit and loss account		6,604		6,346
Total shareholders' funds		7,604		7,346

For the financial year ending 31 January 2026 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 financial statements for the financial year 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 financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Oakenham Limited (registered number: 13138628) were approved and authorised for issue by the Board of Directors on 15 July 2026. They were signed on its behalf by:

Mr R Hutcheon Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Oakenham Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Oakenham, Ugborough, Ivybridge, PL21 0HQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Vehicles

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases and right of use assets

At the inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The lease liability is initially measured at the present value of future lease payments due over the lease term, discounted at the rate implicit in the lease or, if not readily determinable, the Company's incremental borrowing rate. Lease payments include fixed payments, variable lease payments that depend on an index or a tax and amounts reasonably expected to be payable over the life of the lease.

The right of use asset is initially measured at the initial amount of the lease liability and is adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle or restore the underlying asset, less any lease incentives received.

The lease liability is subsequently measured at amortised cost using the effective interest method, with an interest expense recognised in the profit or loss.

After initial recognition, the right of use asset is depreciated on a straight line basis over the shorter of the asset's useful life or the lease term. The right of use assets are subject to impairment reviews in accordance with the Company's policy on the impairment of non financial assets.

It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if the Company changes its assessment of whether it will exercise a purchase, extension, or termination option. When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount of the right of use asset. In any case an equivalent adjustment is made to the carrying value of the right of use asset, with the revised carrying amount being amortised over the remaining (revised) lease term. If the carrying amount of the right of use asset is adjusted to zero, any further reduction is recognised in the profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	1		1

3. Tangible assets

	Vehicles		Total
	£		£
Cost
At 01 February 2025	35,039		35,039
At 31 January 2026	35,039		35,039
Accumulated depreciation
At 01 February 2025	9,855		9,855
Charge for the financial year	6,296		6,296
At 31 January 2026	16,151		16,151
Net book value
At 31 January 2026	18,888		18,888
At 31 January 2025	25,184		25,184

4. Right of use assets

	Motor vehicles		Total
	£		£
Cost
At 01 February 2025	0		0
Additions	26,067		26,067
At 31 January 2026	26,067		26,067
Accumulated depreciation
At 01 February 2025	0		0
Charge for the financial year	3,620		3,620
At 31 January 2026	3,620		3,620
Net book value
At 31 January 2026	22,447		22,447
At 31 January 2025	0		0

The right-of-use assets are included in the Tangible fixed assets on the balance sheet.

5. Debtors

	2026		2025
	£		£
Trade debtors	2,894		0
Other debtors	2,720		625
	5,614		625

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Amounts owed to directors	0		2,285
Accruals	2,733		2,623
Taxation and social security	19,656		18,288
Lease liabilities (note 8)	6,596		0
Obligations under finance leases and hire purchase contracts	4,800		4,800
	33,785		27,996

7. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Lease liabilities (note 8)	11,262		0
Obligations under finance leases and hire purchase contracts (secured)	12,344		17,144
	23,606		17,144

Obligations under finance leases and hire purchase contracts are secured over the fixed assets to which they relate.

8. Lease liabilities

	2026		2025
	£		£
Lease liabilities due within 1 year	6,596		0
Lease liabilities due after 1 year	11,262		0
	17,858		0

The lease liabilities are included in the creditors due within 1 year and creditors due after 1 year on the balance sheet.

9. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000

10. Related party transactions

Transactions with the entity's directors

	2026		2025
	£		£
Opening balance	2,285		9,786
Advances to director	55,500		26,000
Repayments by director	(59,906)		(33,501)
Closing balance	(2,121)		2,285

At the balance sheet date, the company had an amount due from a director of £2,121 , which is included within debtors.

The loan is unsecured and is repayable on demand.