Company Registration No. 07330582 (England and Wales)
OAKGRANE LTD
Companies House Accounts
for the year ended 31 March 2020
OAKGRANE LTD
Companies House Accounts
Contents
OAKGRANE LTD
Company Information
for the year ended 31 March 2020
Company Number
07330582 (England and Wales)
Registered Office
48 BEECHCROFT ROAD
BUSHEY
HERTS
WD23 2JU
Accountants
Fielding Accountancy Services Ltd
48 Beechcroft Road
Bushey
Herts
WD23 2JU
OAKGRANE LTD
Statement of financial position
as at 31 March 2020
Tangible assets
13,041
13,381
Cash at bank and in hand
191
661
Creditors: amounts falling due within one year
(23,254)
(37,675)
Net current liabilities
(10,366)
(11,955)
Total assets less current liabilities
2,675
1,926
Provisions for liabilities
Deferred tax
(1,806)
(1,752)
Called up share capital
100
100
Profit and loss account
769
74
Shareholders' funds
869
174
For the year ending 31 March 2020 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 director acknowledges his 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 and authorised for issue on 21 May 2020 and were signed on its behalf by
MR L. PETRONIS
Director
Company Registration No. 07330582
OAKGRANE LTD
Notes to the Accounts
for the year ended 31 March 2020
OAKGRANE LTD is a private company, limited by shares, registered in England and Wales, registration number 07330582. The registered office is 48 BEECHCROFT ROAD, BUSHEY, HERTS, WD23 2JU.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
15% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Intangible fixed assets comprises Purchased Goodwill and is included at cost less accumulated amortisation. Goodwill is amortised through the Profit & Loss Account in equal instalments over its useful life at £500 per annum.
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.
OAKGRANE LTD
Notes to the Accounts
for the year ended 31 March 2020
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2019
7,100
12,753
13,750
2,187
35,790
Additions
-
2,304
-
-
2,304
At 31 March 2020
7,100
15,057
13,750
2,187
38,094
At 1 April 2019
2,944
9,215
8,564
1,686
22,409
Charge for the year
623
1,168
778
75
2,644
At 31 March 2020
3,567
10,383
9,342
1,761
25,053
At 31 March 2020
3,533
4,674
4,408
426
13,041
At 31 March 2019
4,156
3,538
5,186
501
13,381
Other debtors
8,597
13,316
OAKGRANE LTD
Notes to the Accounts
for the year ended 31 March 2020
8
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
7,419
16,403
Other creditors
1,070
2,150
Loans from directors
14,765
19,122
9
Transactions with related parties
Dividends were paid during the year totalling £8000 to the Director Shareholder.
10
Average number of employees
During the year the average number of employees was 2 (2019: 2).
