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Registration number: 05357126

Oakdene Estates Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Oakdene Estates Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Oakdene Estates Ltd

Company Information

Directors

Mr G Ogden

Mr A N Ogden

Mrs J Ogden

Registered office

Lawrence House
1 - 7 Canning Street
Burnley
Lancashire
BB12 0AE

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Oakdene Estates Ltd
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oakdene Estates Ltd for the year ended 30 June 2023 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Oakdene Estates Ltd. Our work has been undertaken solely to prepare for your approval the accounts of Oakdene Estates Ltd and state those matters that we have agreed to state to the Board of Directors of Oakdene Estates Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oakdene Estates Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Oakdene Estates Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Oakdene Estates Ltd. You consider that Oakdene Estates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Oakdene Estates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

11 March 2024

 

Oakdene Estates Ltd

(Registration number: 05357126)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

80,216

70,936

Creditors: Amounts falling due within one year

5

(96,532)

(93,191)

Total assets less current liabilities

 

(16,316)

(22,255)

Creditors: Amounts falling due after more than one year

5

(200,000)

(200,000)

Net liabilities

 

(216,316)

(222,255)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(216,416)

(222,355)

Shareholders' deficit

 

(216,316)

(222,255)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 11 March 2024 and signed on its behalf by:
 

.........................................
Mr A N Ogden
Director

 

Oakdene Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lawrence House
1 - 7 Canning Street
Burnley
Lancashire
BB12 0AE

These financial statements were authorised for issue by the Board on 11 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.
The company is reliant upon the support of its directors. The directors have a reasonable expectation that the company has adequate resources available to continue in operational existence for the foreseeable future, thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
The directors have agreed not to seek repayment of director loans until the company has sufficient funds to do so.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Oakdene Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 3 (2022 - 3).

4

Debtors

2023
£

2022
£

Trade debtors

80,216

70,936

80,216

70,936

 

Oakdene Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Directors loan accounts

72,090

69,409

Other creditors

 

24,442

23,782

 

96,532

93,191

Due after one year

 

Directors loan accounts

200,000

200,000

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Directors loan accounts

200,000

200,000