Company Registration No. 10862887 (England and Wales)
Oak Smart Technology Limited
Unaudited accounts
for the year ended 31 March 2021
Oak Smart Technology Limited
Unaudited accounts
Contents
Oak Smart Technology Limited
Company Information
for the year ended 31 March 2021
Company Number
10862887 (England and Wales)
Registered Office
Profile West Suite 2, Floor 1
950 Great West Road
Brentford
TW8 9ES
England
Accountants
Fusion Accountants Limited
Profile West
Suite 2, Floor 1, 950 Great West Road
Brentford
Middlesex
TW8 9ES
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Oak Smart Technology Limited for the year ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Oak Smart Technology Limited for the year ended
31 March 2021 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Fusion Accountants Limited
Chartered Accountants
Profile West
Suite 2, Floor 1, 950 Great West Road
Brentford
Middlesex
TW8 9ES
15 June 2021
Oak Smart Technology Limited
Statement of financial position
as at
31 March 2021
Tangible assets
103,598
20,357
Investments
322,631
35,000
Debtors
6,215,431
2,375,524
Cash at bank and in hand
336,693
129,535
Creditors: amounts falling due within one year
(2,635,593)
(1,756,504)
Net current assets
3,916,531
748,555
Net assets
4,342,760
803,912
Called up share capital
100
100
Profit and loss account
4,342,660
803,812
Shareholders' funds
4,342,760
803,912
For the year ending 31 March 2021 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 15 June 2021 and were signed on its behalf by
Fatih Haltas
Director
Company Registration No. 10862887
Oak Smart Technology Limited
Notes to the Accounts
for the year ended 31 March 2021
Oak Smart Technology Limited is a private company, limited by shares, registered in England and Wales, registration number 10862887. The registered office is Profile West Suite 2, Floor 1, 950 Great West Road, Brentford, TW8 9ES, England.
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.
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
has been depreciated using the straight line method over 5 years.
Motor vehicles
has been depreciated using the straight line method over 4 years.
Computer equipment
has been depreciated using the straight line method over 3 years.
We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
It is your duty to ensure that Oak Smart Technology Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of the company.
You consider that Oak Smart Technology Limited is exempt from the statutory audit requirement for the year. We draw your attention to note 2 to the financial statements. The company is reliant upon the continued financial support of its directors, shareholders and related parties. The financial statements do not include any adjustments that would result if the company were unable to continue as going concern.
Oak Smart Technology Limited
Notes to the Accounts
for the year ended 31 March 2021
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2020
18,015
-
12,022
30,037
Additions
3,850
93,700
17,148
114,698
Disposals
(4,956)
-
-
(4,956)
At 31 March 2021
16,909
93,700
29,170
139,779
At 1 April 2020
6,123
-
3,557
9,680
Charge for the year
2,740
21,654
7,063
31,457
On disposals
(4,956)
-
-
(4,956)
At 31 March 2021
3,907
21,654
10,620
36,181
At 31 March 2021
13,002
72,046
18,550
103,598
At 31 March 2020
11,892
-
8,465
20,357
5
Investments
Subsidiary undertakings
Valuation at 1 April 2020
35,000
Valuation at 31 March 2021
322,631
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
50,523
58,981
Amounts due from group undertakings etc.
287,300
83,869
Accrued income and prepayments
397
15,475
Other debtors
5,797,690
2,207,320
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
686
1,816
Obligations under finance leases and hire purchase contracts
68,025
-
Trade creditors
151,037
238,401
Amounts owed to group undertakings and other participating interests
828,439
1,008,353
Taxes and social security
(424)
9,858
Proposed dividends
57,933
15,625
Loans from directors
1,529,897
482,451
Oak Smart Technology Limited
Notes to the Accounts
for the year ended 31 March 2021
8
Share capital
2021
2020
Allotted, called up and fully paid:
10,000 Ordinary shares of £0.01 each
100
100
9
Average number of employees
During the year the average number of employees was 9 (2020: 9).