1 Oak Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08656332 (England and Wales)

Financial Statements for the Year Ended 30 September 2019

for

1 Oak Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Sidhu

Mrs R Sidhu

REGISTERED OFFICE:

10C Peckingham Street

Halesowen

West Midlands

B63 3AW

REGISTERED NUMBER:

08656332 (England and Wales)

ACCOUNTANTS:

Blythe Phillips

10C Peckingham Street

Halesowen

West Midlands

B63 3AW

FIXED ASSETS

Tangible assets

4

999,307

497,323

CURRENT ASSETS

Stocks

16,293

11,332

Debtors

5

232,006

139,734

Cash at bank and in hand

222,841

199,013

471,140

350,079

CREDITORS

Amounts falling due within one year

6

398,453

197,402

NET CURRENT ASSETS

72,687

152,677

TOTAL ASSETS LESS CURRENT LIABILITIES

1,071,994

650,000

CREDITORS

Amounts falling due after more than one year

7

1,170,978

688,992

NET LIABILITIES

(98,984

)

(38,992

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(98,986

)

(38,994

)

SHAREHOLDERS' FUNDS

(98,984

)

(38,992

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2020 and were signed on its behalf by:

P Sidhu - Director

1.	STATUTORY INFORMATION

1 Oak Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and

registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax

and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it

relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted

by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which

they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or

substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered

against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2018 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2018

35,214

931,164

966,378

Additions

19,828

682,680

702,508

At 30 September 2019

55,042

1,613,844

1,668,886

DEPRECIATION

At 1 October 2018

15,515

453,540

469,055

Charge for year

7,011

193,513

200,524

At 30 September 2019

22,526

647,053

669,579

NET BOOK VALUE

At 30 September 2019

32,516

966,791

999,307

At 30 September 2018

19,699

477,624

497,323

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Other debtors

232,006

139,734

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade creditors

357,362

153,231

Taxation and social security

6,628

15,000

Other creditors

34,463

29,171

398,453

197,402

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans

890,978

443,992

Other creditors

280,000

245,000

1,170,978

688,992

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

890,978

443,992