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Registration number: 11632406

Oakhurst Property Investment Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Oakhurst Property Investment Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Oakhurst Property Investment Ltd

Company Information

Directors

Mr Robert Eric Ravilious

Mrs Olivia Dolena Ravilious

Registered office

Charter House Wyvern Court
Wyvern Business Park
Stanier Way
Derby
DE21 6BF

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Oakhurst Property Investment Ltd

(Registration number: 11632406)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

4,016

6,368

Investment property

6

440,000

409,000

 

444,016

415,368

Current assets

 

Debtors

7

1,175

794

Cash at bank and in hand

 

646

710

 

1,821

1,504

Creditors: Amounts falling due within one year

8

(77,466)

(49,928)

Net current liabilities

 

(75,645)

(48,424)

Total assets less current liabilities

 

368,371

366,944

Creditors: Amounts falling due after more than one year

8

(399,199)

(405,939)

Provisions for liabilities

9,508

6,183

Net liabilities

 

(21,320)

(32,812)

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

138,349

113,239

Retained earnings

(160,669)

(147,051)

Shareholders' deficit

 

(21,320)

(32,812)

For the financial year ending 30 September 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.

Approved and authorised by the Board on 4 March 2024 and signed on its behalf by:
 

 

Oakhurst Property Investment Ltd

(Registration number: 11632406)
Balance Sheet as at 30 September 2023 (continued)

.........................................
Mr Robert Eric Ravilious
Director

 

Oakhurst Property Investment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
Charter House Wyvern Court
Wyvern Business Park
Stanier Way
Derby
DE21 6BF

These financial statements were authorised for issue by the Board on 4 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight-line

 

Oakhurst Property Investment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Oakhurst Property Investment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

2,352

2,521

 

Oakhurst Property Investment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

10,085

10,085

At 30 September 2023

10,085

10,085

Depreciation

At 1 October 2022

3,717

3,717

Charge for the year

2,352

2,352

At 30 September 2023

6,069

6,069

Carrying amount

At 30 September 2023

4,016

4,016

At 30 September 2022

6,368

6,368

6

Investment properties

2023
£

At 1 October

409,000

Fair value adjustments

31,000

At 30 September

440,000

The fair value of the property at the yearend 30th September 2023 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £440,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Debtors

Current

2023
£

2022
£

Prepayments

-

294

Other debtors

1,175

500

 

Oakhurst Property Investment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

-

5,394

Amounts owed to group undertakings and undertakings in which the company has a participating interest

74,203

43,842

Taxation and social security

 

261

-

Accruals and deferred income

 

250

250

Other creditors

 

2,752

442

 

77,466

49,928

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

399,199

405,939

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

254,174

253,129

Other borrowings

145,025

152,810

399,199

405,939

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

5,394