Oakwood Construction Services Limited 30/06/2019 iXBRL

Oakwood Construction Services Limited 30/06/2019 iXBRL

OAKWOOD CONSTRUCTION SERVICES LIMITED - Company Information

Print Friendly Version

30/06/2019 2019-06-30 false false false false false false false false false false true false false true false false false true true true true false No description of principal activities is disclosed 2018-07-01 Sage Accounts Production 19.0 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 10223023 2018-07-01 2019-06-30 10223023 2019-06-30 10223023 2018-06-30 10223023 2018-06-30 10223023 core:PlantMachinery 2018-07-01 2019-06-30 10223023 core:FurnitureFittingsToolsEquipment 2018-07-01 2019-06-30 10223023 core:MotorVehicles 2018-07-01 2019-06-30 10223023 bus:Director1 2018-07-01 2019-06-30 10223023 core:PlantMachinery 2018-06-30 10223023 core:FurnitureFittingsToolsEquipment 2018-06-30 10223023 core:MotorVehicles 2018-06-30 10223023 core:PlantMachinery 2019-06-30 10223023 core:FurnitureFittingsToolsEquipment 2019-06-30 10223023 core:MotorVehicles 2019-06-30 10223023 core:WithinOneYear 2019-06-30 10223023 core:WithinOneYear 2018-06-30 10223023 core:AfterOneYear 2019-06-30 10223023 core:ShareCapital 2019-06-30 10223023 core:ShareCapital 2018-06-30 10223023 core:RetainedEarningsAccumulatedLosses 2019-06-30 10223023 core:RetainedEarningsAccumulatedLosses 2018-06-30 10223023 core:PlantMachinery 2018-06-30 10223023 core:FurnitureFittingsToolsEquipment 2018-06-30 10223023 core:MotorVehicles 2018-06-30 10223023 bus:SmallEntities 2018-07-01 2019-06-30 10223023 bus:AuditExemptWithAccountantsReport 2018-07-01 2019-06-30 10223023 bus:FullAccounts 2018-07-01 2019-06-30 10223023 bus:SmallCompaniesRegimeForAccounts 2018-07-01 2019-06-30 10223023 bus:PrivateLimitedCompanyLtd 2018-07-01 2019-06-30
Company registration number: 10223023
Oakwood Construction Services Limited
Unaudited filleted financial statements
30 June 2019
Oakwood Construction Services Limited
Contents
Statement of financial position
Notes to the financial statements
Oakwood Construction Services Limited
Statement of financial position
30 June 2019
Note £ £ £ £
Fixed assets
Tangible assets 5 120,651 41,823
_______ _______
120,651 41,823
Current assets
Debtors 6 183,875 79,339
Cash at bank and in hand 15,493 58,614
_______ _______
199,368 137,953
Creditors: amounts falling due
within one year 7 ( 88,349) ( 87,389)
_______ _______
Net current assets 111,019 50,564
_______ _______
Total assets less current liabilities 231,670 92,387
Creditors: amounts falling due
after more than one year 8 ( 73,411) -
_______ _______
Net assets 158,259 92,387
_______ _______
Capital and reserves
Called up share capital 200 100
Profit and loss account 158,059 92,287
_______ _______
Shareholders funds 158,259 92,387
_______ _______
For the year ending 30 June 2019 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 year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 February 2020 , and are signed on behalf of the board by:
Mr Bill Pullen
Director
Company registration number: 10223023
Oakwood Construction Services Limited
Notes to the financial statements
Year ended 30 June 2019
1. General information
Oakwood Construction Services Limited (Company number 10223023 ) is a private company limited by shares, registered in England & Wales. The address of the registered office is 11 Albion Place, Maidstone, Kent, ME14 5DY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the reliable estimate of the stage of completion of the services provided by the end of the reporting period. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, such as trade and other debtors and creditors, and loans from banks and other third parties.
4. Employee numbers
The average number of persons employed by the company, including directors, during the year amounted to 7 (2018: 2).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2018 19,058 2,761 31,407 53,226
Additions - 17,785 106,568 124,353
Disposals - - ( 37,004) ( 37,004)
_______ _______ _______ _______
At 30 June 2019 19,058 20,546 100,971 140,575
_______ _______ _______ _______
Depreciation
At 1 July 2018 2,147 854 8,402 11,403
Charge for the year 4,228 2,209 8,317 14,754
Disposals - - ( 6,233) ( 6,233)
_______ _______ _______ _______
At 30 June 2019 6,375 3,063 10,486 19,924
_______ _______ _______ _______
Carrying amount
At 30 June 2019 12,683 17,483 90,485 120,651
_______ _______ _______ _______
At 30 June 2018 16,911 1,907 23,005 41,823
_______ _______ _______ _______
6. Debtors
£ £
Trade debtors 183,875 79,339
_______ _______
7. Creditors: amounts falling due within one year
£ £
Trade creditors 7,653 26,934
Social security and other taxes 49,493 21,960
Other creditors 31,203 38,495
_______ _______
88,349 87,389
_______ _______
8. Creditors: amounts falling due after more than one year
£ £
Other creditors 73,411 -
_______ _______