Company Registration No. 10862887 (England and Wales)
Oak Smart Technology Limited
Unaudited accounts
for the year ended 31 March 2023
Oak Smart Technology Limited
Unaudited accounts
Contents
Oak Smart Technology Limited
Company Information
for the year ended 31 March 2023
Company Number
10862887 (England and Wales)
Registered Office
St George’S House
6 St. George's Way
Leicester
LE1 1QZ
England
Accountants
Fusion Accountants Limited
Profile West, 950 Great West Road
Suite 2, Floor 1
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 2023
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 2023 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, 950 Great West Road
Suite 2, Floor 1
Brentford
Middlesex
TW8 9ES
21 December 2023
Oak Smart Technology Limited
Statement of financial position
as at 31 March 2023
Tangible assets
135,466
113,213
Investments
616,301
534,187
Debtors
8,639,154
8,766,799
Cash at bank and in hand
378,227
197,110
Creditors: amounts falling due within one year
(1,866,841)
(2,820,506)
Net current assets
7,150,540
6,143,403
Net assets
7,902,307
6,790,803
Called up share capital
100
100
Profit and loss account
7,902,207
6,790,703
Shareholders' funds
7,902,307
6,790,803
For the year ending 31 March 2023 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 21 December 2023 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 2023
Oak Smart Technology Limited is a private company, limited by shares, registered in England and Wales, registration number 10862887. The registered office is St George’S House, 6 St. George's Way, Leicester, LE1 1QZ, 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 and Reducing balance Method20%to33%
Computer equipment
has been depreciated using the straight line method over 3 years.
Investments in subsidiary undertaking and other investments are initially recognised at cost. Subsequently, measured at cost less impairment.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
27,608
132,184
32,669
192,461
Additions
-
69,344
1,076
70,420
At 31 March 2023
27,608
201,528
33,745
262,881
At 1 April 2022
8,272
48,399
22,577
79,248
Charge for the year
5,677
36,277
6,213
48,167
At 31 March 2023
13,949
84,676
28,790
127,415
At 31 March 2023
13,659
116,852
4,955
135,466
At 31 March 2022
19,336
83,785
10,092
113,213
Oak Smart Technology Limited
Notes to the Accounts
for the year ended 31 March 2023
5
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 April 2022
219,930
314,257
534,187
Additions
1,271
115,743
117,014
Fair value adjustments
(34,900)
-
(34,900)
Valuation at 31 March 2023
186,301
430,000
616,301
Amounts falling due within one year
Trade debtors
1,975,769
934,007
Amounts due from group undertakings etc.
5,008,868
915,319
Accrued income and prepayments
79,522
11,250
Other debtors
1,557,646
6,902,685
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
7,142
-
Obligations under finance leases and hire purchase contracts
143,919
83,297
Trade creditors
533,638
690,900
Amounts owed to group undertakings and other participating interests
495,680
1,557,333
Taxes and social security
111,150
88,267
Proposed dividends
-
58,077
Other creditors
575,312
339,693
Loans from directors
-
2,939
Allotted, called up and fully paid:
10,000 Ordinary shares of £0.01 each
100
100
The amount owed by the director will be paid at the time of signing records or within 9 months of the year end.
10
Transactions with related parties
As of 31st March 2023, Amounts due from group undertakings etc. included a balance of £ 5,008,868 owed by companies under common control.
As of 31st March 2023, Amounts owed to group undertakings and other participating interests included a balance of £ 495,680 owed to companies under common control.
Oak Smart Technology Limited
Notes to the Accounts
for the year ended 31 March 2023
11
Average number of employees
During the year the average number of employees was 16 (2022: 10).