REGISTERED NUMBER: |
Oakbridge Property Limited |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
REGISTERED NUMBER: |
Oakbridge Property Limited |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
Oakbridge Property Limited (Registered number: 10798969) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Oakbridge Property Limited |
Company Information |
for the Year Ended 30 June 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
7 Neptune Court |
Vanguard Way |
Cardiff |
CF24 5PJ |
Oakbridge Property Limited (Registered number: 10798969) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 6 |
Retained earnings |
Shareholders' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Oakbridge Property Limited (Registered number: 10798969) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | Statutory information |
Oakbridge Property Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months of less. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year and recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss in other administrative expenses. |
3. | Employees and directors |
The average number of employees during the year was |
Oakbridge Property Limited (Registered number: 10798969) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
4. | Investment property |
Total |
£ |
Fair value |
At 1 July 2022 |
Revaluations | 50,000 |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
Fair value at 30 June 2023 is represented by: |
£ |
Valuation in 2022 | 703,185 |
Valuation in 2023 | 50,000 |
Cost | 896,815 |
1,650,000 |
This valuation was made on an open market value basis by reference to market evidence of transaction prices of similar properties by the directors. |
5. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Tax |
VAT | 4,354 | 3,513 |
Other creditors |
Directors' current accounts | 726,000 | 726,000 |
6. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 1,000 | 1,000 |
7. | Directors' advances, credits and guarantees |
The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Oakbridge Property Limited (Registered number: 10798969) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
7. | Directors' advances, credits and guarantees - continued |
Balance outstanding at start of year |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |