Made With Oak Ltd - Accounts

Made With Oak Ltd - Accounts

MADE WITH OAK LTD - Company Information

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Registered Number: 11116563
England and Wales

 

 

 

MADE WITH OAK LTD


Unaudited Filleted Financial Statements
 


Period of accounts

Start date: 01 January 2021

End date: 31 December 2021

Made With Oak Ltd
Contents Page
For the year ended 31 December 2021
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 3 2,448    2,647 
2,448    2,647 
Current assets      
Stocks 4 306,196    22,180 
Debtors: amounts falling due within one year 5 41,312    12,040 
Cash at bank and in hand 115,627    435,502 
463,135    469,722 
Creditors: amount falling due within one year 6 (407,982)   (419,898)
Net current assets 55,153    49,824 
 
Total assets less current liabilities 57,601    52,471 
Accruals and deferred income (1,800)   (1,800)
Net assets 55,801    50,671 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 55,701    50,571 
Shareholder's funds 55,801    50,671 
 


For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 February 2022 and were signed on its behalf by:


--------------------------------
Moazz Umar
Director
1
General Information
Made With Oak Ltd is a private company, limited by shares, registered in England and Wales, registration number 11116563, registration address 38 Kennington Road, Fulwood, Preston, PR2 8BT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 5 (2020 : 4).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 January 2021 -    - 
Additions 3,114    3,114 
Disposals -    - 
At 31 December 2021 3,114    3,114 
Depreciation
At 01 January 2021 467    467 
Charge for year 199    199 
On disposals -    - 
At 31 December 2021 666    666 
Net book values
Closing balance as at 31 December 2021 2,448    2,448 
Opening balance as at 01 January 2021 2,647    2,647 


4.

Stocks

2021
£		   2020
£
Stocks 306,196    22,180 
306,196    22,180 

5.

Debtors: amounts falling due within one year

2021
£		   2020
£
PAYE & Social Security 1,087    - 
VAT 40,225    12,040 
41,312    12,040 

6.

Creditors: amount falling due within one year

2021
£		   2020
£
Trade Creditors 20,184    96,146 
Corporation Tax 36,762    30,820 
PAYE & Social Security -    1,861 
Other Creditors 118,825    88,904 
Payments Received on Account 160,211    140,167 
Directors' Current Accounts 72,000    62,000 
407,982    419,898 

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