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REGISTERED NUMBER: 11750054 (England and Wales)















Oakwood Kuoni House Developments Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Oakwood Kuoni House Developments Limited (Registered number: 11750054)

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 Kuoni House Developments Limited

Company Information
for the year ended 31 December 2023







Director: C Green





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





Registered number: 11750054 (England and Wales)






Oakwood Kuoni House Developments Limited (Registered number: 11750054)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investment property 4 - 2,808,000

Current assets
Stocks - 1,492,478
Debtors 5 10,516,319 4,976,617
Cash at bank 28,731 18,029
10,545,050 6,487,124
Creditors
Amounts falling due within one year 6 7,816,876 9,674,299
Net current assets/(liabilities) 2,728,174 (3,187,175 )
Total assets less current liabilities 2,728,174 (379,175 )

Capital and reserves
Called up share capital 7 1 1
Retained earnings 8 2,728,173 (379,176 )
Shareholders' funds 2,728,174 (379,175 )

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 Kuoni House Developments Limited (Registered number: 11750054)

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


1. Statutory information

Oakwood Kuoni House Developments 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.

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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the sale of property sites and for other services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Turnover from the sale of property sites is recognised when the significant risks and rewards of ownership of the property site or a proportion of the property site has passed to the buyer (usually on completion of the property transaction), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the Income Statement.

Stocks
Stocks represent property sites that the Company has acquired for resale and are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of the purchase price of the sites, professional fees, financing fees, interest charges and development fees relating to the sites.

At the reporting date each project site is reviewed for impairment. Any excess of the carrying amount of stocks over its estimated selling price is recognised as an impairment loss in the Income Statement. Reversals of impairment losses are also recognised in the Income Statement.

Where amounts are carried in stocks but the decision is taken that the project will not go ahead, such costs are treated as abortive costs and recognised in the Company's Income Statement under the cost of sales heading in the period in which the decision is taken.

Oakwood Kuoni House Developments Limited (Registered number: 11750054)

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


2. Accounting policies - continued

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 the 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.

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.


Oakwood Kuoni House Developments Limited (Registered number: 11750054)

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


2. Accounting policies - continued
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.

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).

4. Investment property
Total
£
Fair value
At 1 January 2023 2,808,000
Disposals (2,808,000 )
At 31 December 2023 -
Net book value
At 31 December 2023 -
At 31 December 2022 2,808,000

5. Debtors: amounts falling due within one year
2023 2022
£ £
Amounts owed by group undertakings 10,508,319 4,966,381
Other debtors 8,000 10,236
10,516,319 4,976,617

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 13,175 86,952
Amounts owed to group undertakings 5,894,935 4,655,354
Taxation and social security 3,692 -
Other creditors 1,905,074 4,931,993
7,816,876 9,674,299

Oakwood Kuoni House Developments Limited (Registered number: 11750054)

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


7. Called up share capital

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

8. Reserves
Retained
earnings
£

At 1 January 2023 (379,176 )
Profit for the year 3,107,349
At 31 December 2023 2,728,173

9. 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 £8,000 (2022: £8,000) due from companies under common control.

Included in other creditors at the Balance Sheet date was an amount of £1,061,200 (2022: £1,119,912) due to companies under common control.

10. Ultimate controlling party

The controlling party is Oakwood Real Estate Limited.

The ultimate controlling party is C Green.