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REGISTERED NUMBER: 01085587 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Oastwood Limited

Oastwood Limited (Registered number: 01085587)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oastwood Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: S Irvine
Miss L J Irvine





SECRETARY: Mrs A J Irvine





REGISTERED OFFICE: 67 Westow Street
Upper Norwood
London
SE19 3RW





REGISTERED NUMBER: 01085587 (England and Wales)





ACCOUNTANTS: Thornton Springer LLP
Chartered Accountants
67 Westow Street
London
SE19 3RW

Oastwood Limited (Registered number: 01085587)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 13,489 4,369
Investments 6 - 22,273
Investment property 7 1,800,001 1,800,001
1,813,490 1,826,643

CURRENT ASSETS
Debtors 8 4,803,959 4,577,808
Cash at bank 121,436 81,144
4,925,395 4,658,952
CREDITORS
Amounts falling due within one year 9 (195,844 ) (121,614 )
NET CURRENT ASSETS 4,729,551 4,537,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,543,041

6,363,981

PROVISIONS FOR LIABILITIES 10 (353,880 ) (268,949 )
NET ASSETS 6,189,161 6,095,032

CAPITAL AND RESERVES
Called up share capital 99 99
Fair value reserve 1,238,854 1,323,785
Retained earnings 4,950,208 4,771,148
SHAREHOLDERS' FUNDS 6,189,161 6,095,032

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.

Oastwood Limited (Registered number: 01085587)

Balance Sheet - continued
31 October 2023


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 Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by:





S Irvine - Director


Oastwood Limited (Registered number: 01085587)

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

1. STATUTORY INFORMATION

Oastwood Limited is a private company, limited by shares , registered in England and Wales. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Oastwood Limited (Registered number: 01085587)

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 5 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 7,245
Additions 12,353
At 31 October 2023 19,598
DEPRECIATION
At 1 November 2022 2,876
Charge for year 3,233
At 31 October 2023 6,109
NET BOOK VALUE
At 31 October 2023 13,489
At 31 October 2022 4,369

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022 22,273
Disposals (22,273 )
At 31 October 2023 -
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 22,273

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 1,800,001
NET BOOK VALUE
At 31 October 2023 1,800,001
At 31 October 2022 1,800,001

Oastwood Limited (Registered number: 01085587)

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

7. INVESTMENT PROPERTY - continued

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2023 1,592,734
Cost 207,267
1,800,001

If the investment properties had not been revalued they would have been included at the following historical cost:

31.10.23 31.10.22
£    £   
Cost 207,267 207,267

Investment properties were valued on an open market basis on 31 October 2023 by S Irvine, the director .

8. DEBTORS
31.10.23 31.10.22
£    £   
Amounts falling due within one year:
Other debtors 595 3,176

Amounts falling due after more than one year:
Other debtors 4,803,364 4,574,632

Aggregate amounts 4,803,959 4,577,808

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 3,600 138
Taxation and social security 63,241 49,241
Other creditors 129,003 72,235
195,844 121,614

10. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 353,880 268,949

Deferred
tax
£   
Balance at 1 November 2022 268,949
Charge to Income Statement during year 84,931
Balance at 31 October 2023 353,880

Oastwood Limited (Registered number: 01085587)

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

11. RELATED PARTY DISCLOSURES

An amount of £39,228 contained within other creditors, is due to Irvine Properties Limited a company of which S Irvine was also a director and shareholder. L J Irvine was also a director during the year.

A loan to Irvine Properties Limited for £4,803,364 (2022: £4,574,632) is shown as a long term debtor. The loan is unsecured and no schedule of repayments has been agreed. The increase in the loan relates to interest of £228,732 included within interest receivable and similar income.

Included in other creditors is an amount of £4,712 owed to Molly's Limited, a company of which L Irvine was also a director.

Management fees of £7,000 payable by Irvine Property Ltd are included within other operating income.