Registration number:
Oakhouse Property Holdings Limited
for the Year Ended 31 March 2023
Oakhouse Property Holdings Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Oakhouse Property Holdings Limited
(Registration number: 10058305)
Balance Sheet as at 31 March 2023
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Fixed assets |
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Investment property |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' deficit |
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Oakhouse Property Holdings Limited
(Registration number: 10058305)
Balance Sheet as at 31 March 2023
For the financial 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.
Directors' responsibilities:
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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 accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.
Approved and authorised by the
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Oakhouse Property Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
The principal place of business is:
205 Dimsdale Parade West
Newcastle-under-Lyme
Staffordshire
ST5 8ED
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention. These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.
Oakhouse Property Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the property rental in the ordinary course of the company’s activities. The turnover is recorded in the month that the rental period relates to.
Investment property
No depreciation is provided on the investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of the FRS102 in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the act had not been made, the profit/loss for the year would have been reduced by depreciation.
However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified or quantified.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Oakhouse Property Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Investment properties |
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At 1 April |
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At 31 March |
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The investment property above are shown at cost. The directors believe that these costs reflect a fair market value in today's conditions.
Creditors |
Creditors: amounts falling due within one year
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Due within one year |
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Loans and borrowings |
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Other creditors |
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Current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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Creditors: amounts falling due after more than one year
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2022 |
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Due after one year |
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Loans and borrowings |
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