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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
2041020
2023-01-01
2023-12-31
2041020
2023-12-31
2041020
2022-12-31
2041020
2022-01-01
2022-12-31
2041020
2022-12-31
2041020
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-01-01
2023-12-31
2041020
core:PlantMachinery
2023-01-01
2023-12-31
2041020
bus:Director1
2023-01-01
2023-12-31
2041020
core:LandBuildings
2022-12-31
2041020
core:PlantMachinery
2022-12-31
2041020
core:LandBuildings
2023-12-31
2041020
core:PlantMachinery
2023-12-31
2041020
core:WithinOneYear
2023-12-31
2041020
core:WithinOneYear
2022-12-31
2041020
core:AfterOneYear
2023-12-31
2041020
core:AfterOneYear
2022-12-31
2041020
core:ShareCapital
2023-12-31
2041020
core:ShareCapital
2022-12-31
2041020
core:SharePremium
2023-12-31
2041020
core:SharePremium
2022-12-31
2041020
core:RevaluationReserve
2023-12-31
2041020
core:RevaluationReserve
2022-12-31
2041020
core:RetainedEarningsAccumulatedLosses
2023-12-31
2041020
core:RetainedEarningsAccumulatedLosses
2022-12-31
2041020
core:LandBuildings
2023-01-01
2023-12-31
2041020
core:LandBuildings
2022-12-31
2041020
core:PlantMachinery
2022-12-31
2041020
bus:Director1
2022-12-31
2041020
bus:Director1
2021-12-31
2041020
bus:SmallEntities
2023-01-01
2023-12-31
2041020
bus:AuditExemptWithAccountantsReport
2023-01-01
2023-12-31
2041020
bus:FullAccounts
2023-01-01
2023-12-31
2041020
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
2041020
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
2041020
core:ToolsEquipment
2023-01-01
2023-12-31
2041020
core:ToolsEquipment
2023-12-31
2041020
core:ToolsEquipment
2022-12-31
COMPANY REGISTRATION NUMBER:
2041020
Oakleaf Conservatories Limited |
|
Filleted Unaudited Financial Statements |
|
Oakleaf Conservatories Limited |
|
31 December 2023
Fixed assets
Tangible assets |
5 |
|
550,533 |
|
575,952 |
|
|
|
|
|
|
Current assets
Stocks |
27,046 |
|
27,346 |
|
Debtors |
6 |
3,357 |
|
– |
|
Cash at bank and in hand |
7,092 |
|
5,319 |
|
|
-------- |
|
-------- |
|
|
37,495 |
|
32,665 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
2,488,652) |
|
(
2,302,312) |
|
|
------------ |
|
------------ |
|
Net current liabilities |
|
(
2,451,157) |
|
(
2,269,647) |
|
|
------------ |
|
------------ |
Total assets less current liabilities |
|
(
1,900,624) |
|
(
1,693,695) |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
(
472,424) |
|
(
472,424) |
|
|
------------ |
|
------------ |
Net liabilities |
|
(
2,373,048) |
|
(
2,166,119) |
|
|
------------ |
|
------------ |
|
|
|
|
|
|
Capital and reserves
Called up share capital |
|
200 |
|
200 |
Share premium account |
|
214,963 |
|
214,963 |
Revaluation reserve |
|
412,708 |
|
432,878 |
Profit and loss account |
|
(
3,000,919) |
|
(
2,814,160) |
|
|
------------ |
|
------------ |
Shareholders deficit |
|
(
2,373,048) |
|
(
2,166,119) |
|
|
------------ |
|
------------ |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Oakleaf Conservatories Limited |
|
Balance Sheet (continued) |
|
31 December 2023
These financial statements were approved by the
board of directors
and authorised for issue on
14 March 2024
, and are signed on behalf of the board by:
Company registration number:
2041020
Oakleaf Conservatories Limited |
|
Notes to the Financial Statements |
|
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kettlestring Lane, Clifton Moor, YORK, YO30 4XF.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold Property |
- |
3% straight line |
|
Plant and Machinery |
- |
6% straight line |
|
Equipment |
- |
10% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and related parties.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2022:
4
).
5.
Tangible assets
|
Land and buildings |
Plant and machinery |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
At 1 January 2023 and 31 December 2023 |
700,000 |
278,998 |
50,000 |
1,028,998 |
|
--------- |
--------- |
-------- |
------------ |
Depreciation |
|
|
|
|
At 1 January 2023 |
125,000 |
278,046 |
50,000 |
453,046 |
Charge for the year |
25,000 |
419 |
– |
25,419 |
|
--------- |
--------- |
-------- |
------------ |
At 31 December 2023 |
150,000 |
278,465 |
50,000 |
478,465 |
|
--------- |
--------- |
-------- |
------------ |
Carrying amount |
|
|
|
|
At 31 December 2023 |
550,000 |
533 |
– |
550,533 |
|
--------- |
--------- |
-------- |
------------ |
At 31 December 2022 |
575,000 |
952 |
– |
575,952 |
|
--------- |
--------- |
-------- |
------------ |
|
|
|
|
|
Tangible assets held at valuation
The freehold property was valued as at 31 December 2017 at open market with vacant possession existing use value by R P Atkins BSc MRICS of Messrs Lawrence Hannah Limited, York. The depreciable amount of freehold property is £525,000 (2022: £525,000).
6.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Other debtors |
3,357 |
– |
|
------- |
---- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Social security and other taxes |
105 |
1,126 |
Other creditors |
2,488,547 |
2,301,186 |
|
------------ |
------------ |
|
2,488,652 |
2,302,312 |
|
------------ |
------------ |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Other creditors |
472,424 |
472,424 |
|
--------- |
--------- |
|
|
|
9.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
Balance brought forward and outstanding |
|
2023 |
2022 |
|
£ |
£ |
R E Magner |
(
472,424) |
(
472,424) |
|
--------- |
--------- |
|
|
|
10.
Related party transactions
Shamrock Investment Management Company LLC, a company incorporated in the USA, is a related party. At the year end £2,486,698 (2022: £2,299,217) was due to Shamrock Investment Management Company LLC, including a loan of £2,294,667 (2022: £2,107,186) repayable on demand bearing interest at 5% per annum. Interest payable for the year on this loan amounted to £75,781 (2022: £71,510) and is included in the balance. Included in other creditors is an amount of £472,424 (2022: £472,424). This is a loan from
R E Magner
. The loan is classified as falling due after more than one year but has no fixed repayment terms, is unsecured and carries no interest.