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Company Registration No. 12484289 (England and Wales)
Oakley Homes and Lettings Ltd Unaudited accounts for the year ended 28 February 2023
Oakley Homes and Lettings Ltd Unaudited accounts Contents
Page
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Oakley Homes and Lettings Ltd Company Information for the year ended 28 February 2023
Directors
Mr Sean O'Connell Barbara O'Connell
Company Number
12484289 (England and Wales)
Registered Office
SUITE 1 CHRISTCHURCH HOUSE SIR THOMAS LONGLEY ROAD ROCHESTER ME2 4FX UNITED KINGDOM
Accountants
AK Tax & Accountancy Ltd Suite 1 Christchurch House Sir Thomas Longley Road Rochester Kent ME24FX
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Oakley Homes and Lettings Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
674,466 
479,466 
Current assets
Debtors
26,730 
26,730 
Cash at bank and in hand
150,436 
53,611 
177,166 
80,341 
Creditors: amounts falling due within one year
(54,976)
(55,403)
Net current assets
122,190 
24,938 
Total assets less current liabilities
796,656 
504,404 
Creditors: amounts falling due after more than one year
(778,852)
(502,486)
Net assets
17,804 
1,918 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
17,704 
1,818 
Shareholders' funds
17,804 
1,918 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by
Barbara O'Connell Director Company Registration No. 12484289
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Oakley Homes and Lettings Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Oakley Homes and Lettings Ltd is a private company, limited by shares, registered in England and Wales, registration number 12484289. The registered office is SUITE 1 CHRISTCHURCH HOUSE, SIR THOMAS LONGLEY ROAD, ROCHESTER, ME2 4FX, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2023 
£ 
Fair value at 1 March 2022
479,466 
Additions
195,000 
At 28 February 2023
674,466 
A new Investment property was acquired in September 2021. and included in the accounts at the cost of acquisition which was equivalent to the market rate at that time. The directors consider that as this acquisition is within 5 months of the year end, no further valuation was considered necessary, In addition, the directors have considered the value of the existing property and based on online valuation and consider that no revaluation is necessary in the year.
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Oakley Homes and Lettings Ltd Notes to the Accounts for the year ended 28 February 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due after more than one year
Other debtors
26,730 
26,730 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Amounts owed to group undertakings and other participating interests
52,950 
52,950 
Taxes and social security
- 
427 
Other creditors
946 
946 
Accruals
1,080 
1,080 
54,976 
55,403 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
609,458 
335,848 
Loans from directors
169,394 
166,638 
778,852 
502,486 
A charge has been registered on the Investment property by Nottingham Building society in support of the interest only mortgage reported in the accounts.
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
50 Ordinary shares of £1 each
50 
50 
50 Ordinary A Shares of £1 each
50 
50 
100 
100 
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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