Oakwood Construction Services Limited 30/06/2020 iXBRL
Oakwood Construction Services Limited 30/06/2020 iXBRL
Company registration number:
10223023
Contents
Statement of financial position
Notes to the financial statements
Statement of financial position
30 June 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Stocks |
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- | |||||||
Debtors | 6 |
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Cash at bank and in hand |
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_______ | _______ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 7 |
(
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(
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_______ | _______ | ||||||||
Net current assets |
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 |
(
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(
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital | 9 |
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Profit and loss account |
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
07 January 2021
, and are signed on behalf of the board by:
Director
Company registration number:
10223023
Notes to the financial statements
Year ended 30 June 2020
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
3.
Accounting policies
Going concern
Due to the worldwide effects of COVID-19, the directors assessed the impact of the pandemic on its financial statements for the forthcoming year.
Due to the nature of the services that the company offers, there has been an effect on the company during the year. Where necessary, government measures were implemented and the company used government scheme's to ensure cash flow was sufficient throughout.
On this basis, the directors conclude that the company should be assessed as a going concern for a period of at least twelve months from the date of signing of the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received for construction services rendered and good supplied, 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
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 | - |
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Fittings fixtures and equipment | - |
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Motor vehicles | - |
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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.
Stocks
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 15 (2019: 7).
5.
Tangible assets
Plant and machinery | Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | £ | ||
Cost | |||||
At 1 July 2019 |
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Additions |
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Disposals | - | - |
(
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_______ | _______ | _______ | _______ | ||
At 30 June 2020 |
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_______ | _______ | _______ | _______ | ||
Depreciation | |||||
At 1 July 2019 |
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Charge for the year |
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_______ | _______ | _______ | _______ | ||
At 30 June 2020 |
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_______ | _______ | _______ | _______ | ||
Carrying amount | |||||
At 30 June 2020 |
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_______ | _______ | _______ | _______ | ||
At 30 June 2019 |
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_______ | _______ | _______ | _______ | ||
6.
Debtors
2020 | 2019 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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- | ||
_______ | _______ | |||
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_______ | _______ | |||
7.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts |
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- | ||
Trade creditors |
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Social security and other taxes |
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Other creditors |
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_______ | _______ | |||
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_______ | _______ | |||
8.
Creditors: amounts falling due after more than one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts |
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- | ||
Other creditors |
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_______ | _______ | |||
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_______ | _______ | |||
9.
Called up share capital
Issued, called up and fully paid
2020 | 2019 | ||||||||
No | £ | No | £ | ||||||
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200 | 200 | 200 | 200 | |||||
_______ | _______ | _______ | _______ | ||||||
10.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ | £ | |
Not later than 1 year |
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- |
Later than 1 year and not later than 5 years |
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- |
_______ | _______ | |
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- | |
_______ | _______ | |