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Registration number: 13954285

Warwick Oak Homes Ltd

Annual Report and Unaudited Financial Statements

for the Period from 4 March 2022 to 31 March 2023

 

Warwick Oak Homes Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 8

 

Warwick Oak Homes Ltd

Company Information

Directors

Mrs Emma Jane Hancox

Mr Robert Alan Hancox

Registered office

8 The Courtyard
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

Accountants

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

 

Warwick Oak Homes Ltd

Directors' Report for the Period from 4 March 2022 to 31 March 2023

The directors present their report and the financial statements for the period from 4 March 2022 to 31 March 2023.

Incorporation

The company was incorporated on 4 March 2022 and commenced trading on 1 April 2022

Directors of the company

The directors who held office during the period were as follows:

Mrs Emma Jane Hancox (appointed 4 March 2022)

Mr Robert Alan Hancox (appointed 4 March 2022)

Principal activity

The principal activity of the company is renting of own property.

Small companies provision statement

This report has 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.

Approved by the Board on 28 November 2023 and signed on its behalf by:

.........................................
Mr Robert Alan Hancox
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Warwick Oak Homes Ltd
for the Period Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Warwick Oak Homes Ltd for the period ended 31 March 2023 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Warwick Oak Homes Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Warwick Oak Homes Ltd and state those matters that we have agreed to state to the Board of Directors of Warwick Oak Homes Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Warwick Oak Homes Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Warwick Oak Homes Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Warwick Oak Homes Ltd. You consider that Warwick Oak Homes Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Warwick Oak Homes Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

28 November 2023

 

Warwick Oak Homes Ltd

(Registration number: 13954285)
Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Investment property

4

122,944

Current assets

 

Debtors

5

440

Cash at bank and in hand

 

760

 

1,200

Creditors: Amounts falling due within one year

6

(55,871)

Net current liabilities

 

(54,671)

Total assets less current liabilities

 

68,273

Creditors: Amounts falling due after more than one year

6

(87,980)

Net liabilities

 

(19,707)

Capital and reserves

 

Called up share capital

8

2

Retained earnings

(19,709)

Shareholders' deficit

 

(19,707)

For the financial period 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 period 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.

Approved and authorised by the Board on 28 November 2023 and signed on its behalf by:
 

.........................................
Mr Robert Alan Hancox
Director

 

Warwick Oak Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 4 March 2022 to 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:
8 The Courtyard
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ
United Kingdom

These financial statements were authorised for issue by the Board on 28 November 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Warwick Oak Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 4 March 2022 to 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company during the period, was 1.

4

Investment properties

 

Warwick Oak Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 4 March 2022 to 31 March 2023

2023
£

Additions

122,944

At 31 March

122,944

There has been no valuation of investment property by an independent valuer.

5

Debtors

2023
£

Prepayments

240

Other debtors

200

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Trade creditors

 

141

Taxation and social security

 

588

Other creditors

 

55,142

 

55,871

Due after one year

 

Loans and borrowings

7

87,980

7

Loans and borrowings

2023
£

Non-current loans and borrowings

Bank borrowings

87,980

 

Warwick Oak Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 4 March 2022 to 31 March 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

2

2

     

9

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £87,980. A charge registered 20 January 2023 by The Mortgage Works (UK) PLC secures the liability by a mortgage deed in the financial statements over property 84 Boulton Street, Stoke-On-Trent to the value of £87,980.