Registered number
03370797
Oakland Green Homes Limited
Unaudited Filleted Accounts
31 July 2023
Oakland Green Homes Limited
Registered number: 03370797
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Current assets
Stocks 834,595 834,595
Debtors 3 6,150 6,150
Cash at bank and in hand 472 490
841,217 841,235
Creditors: amounts falling due within one year 4 (968,057) (965,320)
Net current liabilities (126,840) (124,085)
Net liabilities (126,840) (124,085)
Capital and reserves
Called up share capital 100 100
Profit and loss account (126,940) (124,185)
Shareholders' funds (126,840) (124,085)
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.
Mr. L G L Oakley
Director
Approved by the board on 17 October 2023
Oakland Green Homes Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2023 2022
£ £
Other debtors 6,150 6,150
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 606 606
Other taxes and social security costs (112) (112)
Other creditors 967,563 964,826
968,057 965,320
5 Ownership
The company is controlled by Mr. L G L Oakley - director (and his family interests) and Mr. L D & Mrs. S J Heywood (non directors).
6 Going concern
The shareholders, including Mr Oakley, have loaned working capital of £738,073 (2022: £738,073), included under creditors. No date is fixed for repayment of the loans. Unlike previous years, no interest has been charged on the loan by Mr & Mrs Heywood this year. The interest element of the loan from Mr. & Mrs. Heywood left outstanding is £180,881 (2022: £180,881). Further working capital loans have been made to the company of £48,609 by a company in which Mr Oakley has a majority interest. These other loans are interest free and no fixed date has been set for repayment.
7 Other information
Oakland Green Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
Barn Park, Sutherland Farm
Hartland
Bideford
Devon
EX39 6EY
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