Registered number
04664366
(England and Wales)
C W OAKLEY & SONS LIMITED
Unaudited Filleted Accounts
31 August 2023
C W OAKLEY & SONS LIMITED
Registered number: 04664366
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 765,921 765,921
Current assets
Debtors 4 4,923 -
Cash at bank and in hand 61,896 68,534
66,819 68,534
Creditors: amounts falling due within one year 5 (98,676) (74,627)
Net current liabilities (31,857) (6,093)
Total assets less current liabilities 734,064 759,828
Creditors: amounts falling due after more than one year 6 (47,381) (88,067)
Provisions for liabilities (53,460) (40,630)
Net assets 633,223 631,131
Capital and reserves
Called up share capital 2 1
Revaluation reserve 8 160,382 173,212
Profit and loss account 472,839 457,918
Shareholders' funds 633,223 631,131
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A R Oakley
Director
Approved by the board on 6 October 2023
C W OAKLEY & SONS LIMITED
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental and management of commercial premises which are either owned or leased.
Tangible fixed assets
Tangible fixed assets are measured at at revaluation for freehold land and buidings and at cost for leasehold buildings improvements. Depreciation is not provided on land and buildings.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost or Revaluation
At 1 September 2022 765,921
At 31 August 2023 765,921
Depreciation
At 31 August 2023 -
Net book value
At 31 August 2023 765,921
At 31 August 2022 765,921
Freehold land and buildings: 2023 2022
£ £
Historical cost 549,340 549,340
Cumulative depreciation based on historical cost 0 0
549,340 549,340
4 Debtors 2023 2022
£ £
Other debtors 4,923 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 44,168 42,704
Taxation and social security costs 39,879 18,115
Other creditors 14,629 13,808
98,676 74,627
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 47,381 88,067
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 91,549 86,486
The bank loans are secured by fixed charges on the company's freehold land and buildings and all other assets.
8 Revaluation reserve 2023 2022
£ £
At 1 September 2022 173,212 173,212
Deferred taxation arising on the revaluation of land and buildings (12,830) -
At 31 August 2023 160,382 173,212
9 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases
Within one year 81,198 81,198
After one year but within five years 324,792 324,792
After five years 138,369 219,567
544,359 625,557
10 Related party transactions
The company receives rent for three commercial properties from Marketpool Ltd, a company 50% owned by the company's Director.
The company has the benefit of an inter company loan from Marketpool Ltd. The balance at 31 August 2023 was £5,721.45 (2022 - £5,721.45) on which the company has paid interest at 5% of the average balance for the year.
11 Other information
C W OAKLEY & SONS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Units 1 - 4 Crossley Farm Business Centre
Swan Lane
Winterbourne
Bristol
BS36 1RH
C W OAKLEY & SONS LIMITED 04664366 false 2022-09-01 2023-08-31 2023-08-31 VT Final Accounts April 2022 A R Oakley No description of principal activity 04664366 2021-09-01 2022-08-31 04664366 core:RevaluationReserve 2021-09-01 2022-08-31 04664366 core:WithinOneYear 2022-08-31 04664366 core:AfterOneYear 2022-08-31 04664366 core:ShareCapital 2022-08-31 04664366 core:OtherReservesSubtotal 2022-08-31 04664366 core:RetainedEarningsAccumulatedLosses 2022-08-31 04664366 core:RevaluationReserve 2021-08-31 04664366 2022-09-01 2023-08-31 04664366 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04664366 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 04664366 bus:Director40 2022-09-01 2023-08-31 04664366 1 2022-09-01 2023-08-31 04664366 2 2022-09-01 2023-08-31 04664366 core:RevaluationReserve 2022-09-01 2023-08-31 04664366 countries:England 2022-09-01 2023-08-31 04664366 bus:FRS102 2022-09-01 2023-08-31 04664366 bus:FullAccounts 2022-09-01 2023-08-31 04664366 2023-08-31 04664366 core:WithinOneYear 2023-08-31 04664366 core:AfterOneYear 2023-08-31 04664366 core:ShareCapital 2023-08-31 04664366 core:OtherReservesSubtotal 2023-08-31 04664366 core:RetainedEarningsAccumulatedLosses 2023-08-31 04664366 core:LandBuildings 2023-08-31 04664366 core:RevaluationReserve 2023-08-31 04664366 2022-08-31 04664366 core:LandBuildings 2022-08-31 04664366 core:RevaluationReserve 2022-08-31 iso4217:GBP xbrli:pure