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Registration number: 08792102

Oakhouse Ventures Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Oakhouse Ventures Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Oakhouse Ventures Ltd

(Registration number: 08792102)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,708

2,662

Current assets

 

Debtors

6

50,119

50,627

Cash at bank and in hand

 

13,950

34,518

 

64,069

85,145

Creditors: Amounts falling due within one year

7

(92,293)

(125,236)

Net current liabilities

 

(28,224)

(40,091)

Total assets less current liabilities

 

(24,516)

(37,429)

Provisions for liabilities

(705)

-

Net liabilities

 

(25,221)

(37,429)

Capital and reserves

 

Called up share capital

50

50

Profit and loss account

(25,271)

(37,479)

Shareholders' deficit

 

(25,221)

(37,429)

 

Oakhouse Ventures Ltd

(Registration number: 08792102)
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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 17 November 2023 and signed on its behalf by:
 

.........................................
Mr A H Davies
Director

 

Oakhouse Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

The principal place of business is:
205 Dimsdale Parade West
Newcastle-under-Lyme
Staffordshire
ST5 8ED

2

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 Ventures Ltd

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% reducing balance basis

Office equipment

25% straight line basis

 

Oakhouse Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Oakhouse Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Franchise fees
 £

Total
£

Cost or valuation

At 1 April 2022

27,600

27,600

At 31 March 2023

27,600

27,600

Amortisation

At 1 April 2022

27,600

27,600

At 31 March 2023

27,600

27,600

Carrying amount

At 31 March 2023

-

-

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

8,570

6,105

14,675

Additions

-

2,594

2,594

At 31 March 2023

8,570

8,699

17,269

Depreciation

At 1 April 2022

7,132

4,881

12,013

Charge for the year

288

1,260

1,548

At 31 March 2023

7,420

6,141

13,561

Carrying amount

At 31 March 2023

1,150

2,558

3,708

At 31 March 2022

1,438

1,224

2,662

 

Oakhouse Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

4,784

1,944

Amounts owed by related parties

45,335

48,683

 

50,119

50,627

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

43,230

59,425

Other creditors

 

49,063

65,811

 

92,293

125,236