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REGISTERED NUMBER: SC106572 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Oak Bay Properties Limited

Oak Bay Properties Limited (Registered number: SC106572)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Oak Bay Properties Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: A D Leonard





SECRETARY: Mrs A T Leonard





REGISTERED OFFICE: McLay, McAlister & McGibbon LLP
145 St. Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC106572 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Oak Bay Properties Limited (Registered number: SC106572)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £   
CURRENT ASSETS
Debtors 4 5,846 323
Investments 5 210,000 215,000
Cash at bank 165 14,032
216,011 229,355
CREDITORS
Amounts falling due within one year 6 (33,892 ) (36,489 )
NET CURRENT ASSETS 182,119 192,866
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,119

192,866

CREDITORS
Amounts falling due after more than one
year

7

(11,019

)

(12,907

)
NET ASSETS 171,100 179,959

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 170,100 178,959
SHAREHOLDERS' FUNDS 171,100 179,959

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 April 2024 and were signed by:



A D Leonard - Director


Oak Bay Properties Limited (Registered number: SC106572)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Oak Bay Properties Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable, net of VAT, and is all from continuing activities.

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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.

Investment properties
Investment properties are shown at fair value, with any fair value movement in the year being recognised through the profit and loss account.

Oak Bay Properties Limited (Registered number: SC106572)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 5,846 323

5. CURRENT ASSET INVESTMENTS
31.7.23 31.7.22
£    £   
Unlisted investments 210,000 215,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 1,889 1,889
Other creditors 32,003 34,600
33,892 36,489

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 11,019 12,907

Amounts falling due in more than five years:

Repayable by instalments
Bank loan > 5 years 3,464 5,352