Oakwell Hampton Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09940299 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Oakwell Hampton Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S P Grimshaw

B G Higgs

I S Pahl

REGISTERED OFFICE:

Floor 4, 2-4 Exchange Street

St Ann's Square

Manchester

M2 7HA

REGISTERED NUMBER:

09940299 (England and Wales)

ACCOUNTANTS:

Hardy & Company (Hyde) Ltd

Chartered Certified Accountants

Onward Chambers

34 Market Street

Hyde

Cheshire

SK14 1AH

FIXED ASSETS

Tangible assets

4

65,582

88,999

CURRENT ASSETS

Debtors

5

41,719

53,932

Cash at bank and in hand

458,647

432,982

500,366

486,914

CREDITORS

Amounts falling due within one year

6

210,093

157,686

NET CURRENT ASSETS

290,273

329,228

TOTAL ASSETS LESS CURRENT LIABILITIES

355,855

418,227

CREDITORS

Amounts falling due after more than one year

7

(204,687

)

(262,357

)

PROVISIONS FOR LIABILITIES

(12,461

)

(16,910

)

NET ASSETS

138,707

138,960

CAPITAL AND RESERVES

Called up share capital

284

280

Retained earnings

138,423

138,680

138,707

138,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2023 and were signed on its behalf by:

I S Pahl - Director

1.	STATUTORY INFORMATION

Oakwell Hampton Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

The preparation of the financial statements requires management to make estimates, judgements and assumptions that affect the amounts reported. These judgements and estimates are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no significant judgements or estimates.

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 and 20% on cost

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2021 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2022

115,698

Disposals

(3,959

)

At 31 December 2022

111,739

DEPRECIATION

At 1 January 2022

26,699

Charge for year

23,417

Eliminated on disposal

(3,959

)

At 31 December 2022

46,157

NET BOOK VALUE

At 31 December 2022

65,582

At 31 December 2021

88,999

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

19,687

38,752

Other debtors

22,032

15,180

41,719

53,932

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans and overdrafts

60,053

65,014

Hire purchase contracts

10,245

10,245

Trade creditors

3,426

1,200

Taxation and social security

109,057

54,366

Other creditors

27,312

26,861

210,093

157,686

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans

147,367

194,794

Hire purchase contracts

57,320

67,563

204,687

262,357

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2022 and 31 December 2021:

31.12.22

31.12.21

£

£

I S Pahl

Balance outstanding at start of year

6,178

5,512

Amounts advanced

-

63,000

Amounts repaid

(6,178

)

(62,334

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

6,178

B G Higgs

Balance outstanding at start of year

4,101

3,816

Amounts advanced

-

38,500

Amounts repaid

(4,101

)

(38,215

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

4,101

S P Grimshaw

Balance outstanding at start of year

4,168

3,883

Amounts advanced

-

38,500

Amounts repaid

(4,168

)

(38,215

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

4,168