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REGISTERED NUMBER: 08323556 (England and Wales)















Oakwood Real Estate Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Oakwood Real Estate Limited (Registered number: 08323556)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Oakwood Real Estate Limited

Company Information
for the year ended 31 December 2023







Director: C Green





Registered office: 3c High Street
Esher
Surrey
KT10 9RL





Registered number: 08323556 (England and Wales)






Oakwood Real Estate Limited (Registered number: 08323556)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 43,022 36,291
Investments 5 103 103
43,125 36,394

Current assets
Debtors 6 9,476,630 7,772,309
Cash at bank 3,958 1,689
9,480,588 7,773,998
Creditors
Amounts falling due within one year 7 6,986,472 5,248,685
Net current assets 2,494,116 2,525,313
Total assets less current liabilities 2,537,241 2,561,707

Provisions for liabilities 8 10,755 6,895
Net assets 2,526,486 2,554,812

Capital and reserves
Called up share capital 9 500,000 500,000
Retained earnings 10 2,026,486 2,054,812
Shareholders' funds 2,526,486 2,554,812

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 March 2024 and were signed by:





C Green - Director


Oakwood Real Estate Limited (Registered number: 08323556)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Oakwood Real Estate Limited is a private company limited by shares incorporated in England and Wales. The Company's registered office and registered number can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the Company.
Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Preparation of consolidated financial statements
The financial statements contain information about Oakwood Real Estate Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the Group.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery-20% straight line
Motor vehicles-20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the Income Statement.

Impairment of fixed assets
At each reporting period end date, the Company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the Income Statement, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Oakwood Real Estate Limited (Registered number: 08323556)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the Income Statement, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Investments in subsidiaries
Interest in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the Income Statement.

A subsidiary is an entity controlled by the Company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.


Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at the market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group and related companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Oakwood Real Estate Limited (Registered number: 08323556)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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.

Provisions
Provisions are recognised when the Company has a legal or constructive present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in the Income Statement in the period in which it arises.

Going concern
The current economic conditions, present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

After making enquiries, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

Oakwood Real Estate Limited (Registered number: 08323556)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£ £ £
Cost
At 1 January 2023 810,236 56,303 866,539
Additions - 22,490 22,490
At 31 December 2023 810,236 78,793 889,029
Depreciation
At 1 January 2023 810,236 20,012 830,248
Charge for year - 15,759 15,759
At 31 December 2023 810,236 35,771 846,007
Net book value
At 31 December 2023 - 43,022 43,022
At 31 December 2022 - 36,291 36,291

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2023
and 31 December 2023 103
Net book value
At 31 December 2023 103
At 31 December 2022 103

6. Debtors: amounts falling due within one year
2023 2022
£ £
Amounts owed by group undertakings 8,832,650 7,270,687
Amounts due from related
parties 643,980 501,622
9,476,630 7,772,309

7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 202,939 27,303
Amounts owed to group undertakings 83,916 33,916
Other creditors 6,699,617 5,187,466
6,986,472 5,248,685

8. Provisions for liabilities
2023 2022
£ £
Deferred tax 10,755 6,895

Oakwood Real Estate Limited (Registered number: 08323556)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


8. Provisions for liabilities - continued

Deferred tax
£
Balance at 1 January 2023 6,895
Provided during year 3,860
Balance at 31 December 2023 10,755

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
500,000 Ordinary 1 500,000 500,000

10. Reserves
Retained
earnings
£

At 1 January 2023 2,054,812
Deficit for the year (28,326 )
At 31 December 2023 2,026,486

11. Related party disclosures

During the year the Company entered into the following transactions with related parties:

Included in other debtors at the Balance Sheet date was an amount of £450,000 (2022: £450,000) due from companies under common control.

Included in other creditors at the Balance Sheet date was an amount of £6,359,743 (2022: £4,648,359) due to companies under common control.

12. Ultimate controlling party

The ultimate controlling party is C Green.