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REGISTERED NUMBER: 03295239 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Oakley Property (Sussex) Limited

Oakley Property (Sussex) Limited (Registered number: 03295239)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Oakley Property (Sussex) Limited (Registered number: 03295239)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 103,423 -
Tangible fixed assets 5 400,365 370,995
Investments 6 - 100,000
503,788 470,995

Current assets
Debtors 7 273,152 509,906
Cash at bank and in hand 113,197 412,009
386,349 921,915
Creditors
Amounts falling due within one year 8 354,176 410,456
Net current assets 32,173 511,459
Total assets less current liabilities 535,961 982,454

Creditors
Amounts falling due after more than one
year

9

(114,109

)

(151,193

)

Provisions for liabilities (57,776 ) (41,423 )
Net assets 364,076 789,838

Oakley Property (Sussex) Limited (Registered number: 03295239)

Balance Sheet - continued
31 October 2023

2023 2022
Notes £    £    £    £   
Capital and reserves
Called up share capital 10 9,500 9,500
Share premium 13,500 13,500
Capital redemption reserve 500 500
Retained earnings 340,576 766,338
Shareholders' funds 364,076 789,838

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

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

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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:





T D Crossfield - Director


Oakley Property (Sussex) Limited (Registered number: 03295239)

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

1. Statutory information

Oakley Property (Sussex) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03295239

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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.

Preparation of consolidated financial statements
The financial statements contain information about Oakley Property (Sussex) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of VAT and discounts. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Oakley Property (Sussex) Limited (Registered number: 03295239)

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

2. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% straight line
Computer equipment - 25% straight line
Leasehold improvements - 20% straight line and 10% straight line

Investments in subsidiaries
Investments in subsidiaries are reviewed for impairment or impairment reversal on an annual basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Oakley Property (Sussex) Limited (Registered number: 03295239)

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

3. Employees and directors

The average number of employees during the year was 44 (2022 - 35 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
Additions 111,809
At 31 October 2023 111,809
Amortisation
Charge for year 8,386
At 31 October 2023 8,386
Net book value
At 31 October 2023 103,423

5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 November 2022 613,261
Additions 85,258
At 31 October 2023 698,519
Depreciation
At 1 November 2022 242,266
Charge for year 55,888
At 31 October 2023 298,154
Net book value
At 31 October 2023 400,365
At 31 October 2022 370,995

Oakley Property (Sussex) Limited (Registered number: 03295239)

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

6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 November 2022 100,000
Impairments (100,000 )
At 31 October 2023 -
Net book value
At 31 October 2023 -
At 31 October 2022 100,000

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 148,184 427,981
Amounts owed by group undertakings 58,796 32,912
Other debtors 66,172 49,013
273,152 509,906

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 44,496 47,217
Trade creditors 40,729 32,432
Taxation and social security 181,551 257,589
Other creditors 87,400 73,218
354,176 410,456

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 114,109 151,193

Oakley Property (Sussex) Limited (Registered number: 03295239)

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

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
7,200 Ordinary A £1 7,200 7,200
1,425 Ordinary B £1 1,425 1,425
475 Ordinary C £1 475 475
400 Ordinary D £1 400 400
9,500 9,500

11. Off-balance sheet arrangements

At the year end, the company had operating lease commitments amounting to £204,439 (2022: £252,911).

12. Directors' advances, credits and guarantees

During the year, the company advanced a director £50,916 (2022: £96,684) and he repaid £45,944 (2022: £136,364). At the year end, a director owed the company £4,972 (2022: £nil). The advances were interest-free, unsecured and repayable on demand.