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REGISTERED NUMBER: 08419630 (England and Wales)















Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 31 October 2023

for

Oakwood House (UK) Ltd

Oakwood House (UK) Ltd (Registered number: 08419630)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Consolidated Statement of Income and Retained Earnings 6

Consolidated Balance Sheet 7

Company Balance Sheet 8

Consolidated Cash Flow Statement 9

Notes to the Consolidated Cash Flow Statement 10

Notes to the Consolidated Financial Statements 12


Oakwood House (UK) Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: A Mahmood





SECRETARY: A Mahmood





REGISTERED OFFICE: 75/77 Drake Street
Rochdale
Lancashire





REGISTERED NUMBER: 08419630 (England and Wales)





AUDITORS: PKW Chartered Accountants LLP
Cloth Hall
150 Drake Street
Rochdale
Lancashire
OL16 1PX

Oakwood House (UK) Ltd (Registered number: 08419630)

Group Strategic Report
for the Year Ended 31 October 2023

The director presents his strategic report of the company and the group for the year ended 31 October 2023.

REVIEW OF BUSINESS
The care homes owned and run by Rochcare Limited and Rochcare (UK ) Ltd have maintained high occupancy levels throughout the year.

Group turnover has increased by 33% over the last twelve months mainly due to increased occupancy levels.

The care home operated by Rochcare Limited has now maintained a high occupancy through out the year which has contributed towards the profit levels.

Rochcare Ltd has now started construction of their new 64 bed care home in Chadderton.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors are aware of the principal risks and uncertainties facing the company and in brief these are:-

a) Changes in state funding provision; and
b) Other changes in regulation of the business leading to increased costs.

The company will continue to look for further savings while maintaining care standards.

ON BEHALF OF THE BOARD:





A Mahmood - Director


25 July 2024

Oakwood House (UK) Ltd (Registered number: 08419630)

Report of the Director
for the Year Ended 31 October 2023

The director presents his report with the financial statements of the company and the group for the year ended 31 October 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of residential care homes.

DIVIDENDS
An interim dividend of £237.50 per share was paid on 31 October 2023. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 October 2023 will be £ 91,500 .

DIRECTOR
A Mahmood held office during the whole of the period from 1 November 2022 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE
No political donations have been made (2022:£nil).

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, PKW Chartered Accountants LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A Mahmood - Director


25 July 2024

Report of the Independent Auditors to the Members of
Oakwood House (UK) Ltd

Opinion
We have audited the financial statements of Oakwood House (UK) Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2023 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 October 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Oakwood House (UK) Ltd


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- review of financial statement disclosures and vouching to supporting documentation to assess compliance with applicable laws and regulations;
- auditing the risk of management override of controls, including the testing of journal entries and other adjustments for appropriateness;
- testing the effectiveness of the company's internal controls and systems;
- use of analytical procedures to review client data for unusual trends and fluctuations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




M J Pickup (Senior Statutory Auditor)
for and on behalf of PKW Chartered Accountants LLP
Cloth Hall
150 Drake Street
Rochdale
Lancashire
OL16 1PX

25 July 2024

Oakwood House (UK) Ltd (Registered number: 08419630)

Consolidated
Statement of Income and
Retained Earnings
for the Year Ended 31 October 2023

2023 2022
as restated
Notes £    £   

TURNOVER 5,093,815 3,833,845

Cost of sales 3,458,406 2,721,005
GROSS PROFIT 1,635,409 1,112,840

Administrative expenses 664,615 543,278
970,794 569,562

Other operating income 216,263 267,482
OPERATING PROFIT 4 1,187,057 837,044

Interest receivable and similar income 6,119 1,083
1,193,176 838,127

Interest payable and similar expenses 5 60,182 41,741
PROFIT BEFORE TAXATION 1,132,994 796,386

Tax on profit 6 190,967 39,319
PROFIT FOR THE FINANCIAL YEAR 942,027 757,067

Retained earnings at beginning of year as
previously reported

2,267,372

1,525,659

Dividends 8 (91,500 ) (84,000 )
Prior year adjustment - corrections of material
errors

9

(228,821

)

(160,175

)

RETAINED EARNINGS FOR THE GROUP
AT END OF YEAR

2,889,078

2,038,551

Profit attributable to:
Owners of the parent 942,027 757,067

Oakwood House (UK) Ltd (Registered number: 08419630)

Consolidated Balance Sheet
31 October 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 (684,365 ) (1,026,548 )
Tangible assets 11 7,942,728 6,817,706
Investments 12 - -
7,258,363 5,791,158

CURRENT ASSETS
Debtors 13 1,389,345 1,282,733
Investments 14 2,478 2,478
Cash at bank and in hand 523,859 1,226,587
1,915,682 2,511,798
CREDITORS
Amounts falling due within one year 15 1,740,445 1,563,427
NET CURRENT ASSETS 175,237 948,371
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,433,600

6,739,529

CREDITORS
Amounts falling due after more than one year 16 (799,728 ) (960,096 )

PROVISIONS FOR LIABILITIES 19 (7,135 ) (3,223 )
NET ASSETS 6,626,737 5,776,210

CAPITAL AND RESERVES
Called up share capital 20 400 400
Share premium 21 3,737,259 3,737,259
Retained earnings 21 2,889,078 2,038,551
SHAREHOLDERS' FUNDS 6,626,737 5,776,210

The financial statements were approved by the director and authorised for issue on 25 July 2024 and were signed by:





A Mahmood - Director


Oakwood House (UK) Ltd (Registered number: 08419630)

Company Balance Sheet
31 October 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 2,290,835 2,290,735
2,290,835 2,290,735

CURRENT ASSETS
Debtors 13 1,592,288 1,043,288
Cash at bank 206,865 681,773
1,799,153 1,725,061
CREDITORS
Amounts falling due within one year 15 199,231 93,437
NET CURRENT ASSETS 1,599,922 1,631,624
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,890,757

3,922,359

CAPITAL AND RESERVES
Called up share capital 20 400 400
Share premium 3,737,259 3,737,259
Retained earnings 153,098 184,700
SHAREHOLDERS' FUNDS 3,890,757 3,922,359

Company's profit for the financial year 59,898 59,709

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 25 July 2024 and were signed by:





A Mahmood - Director


Oakwood House (UK) Ltd (Registered number: 08419630)

Consolidated Cash Flow Statement
for the Year Ended 31 October 2023

2023 2022
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 960,375 689,098
Interest paid (58,740 ) (41,028 )
Interest element of hire purchase payments paid (1,398 ) (713 )
Finance costs paid (44 ) -
Tax paid (59,500 ) (91,097 )
Net cash from operating activities 840,693 556,260

Cash flows from investing activities
Purchase of tangible fixed assets (1,263,509 ) (293,689 )
Sale of tangible fixed assets - 74,546
Interest received 6,119 1,083
Net cash from investing activities (1,257,390 ) (218,060 )

Cash flows from financing activities
New loans in year 25,235 -
Loan repayments in year (212,674 ) (296,433 )
Capital repayments in year (2,799 ) (5,196 )
Amount introduced by directors 5,599 -
Equity dividends paid (91,500 ) (84,000 )
Net cash from financing activities (276,139 ) (385,629 )

Decrease in cash and cash equivalents (692,836 ) (47,429 )
Cash and cash equivalents at beginning of year 2 1,213,426 1,260,855

Cash and cash equivalents at end of year 2 520,590 1,213,426

Oakwood House (UK) Ltd (Registered number: 08419630)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 October 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
as restated
£    £   
Profit before taxation 1,132,994 796,386
Depreciation charges (203,697 ) (211,764 )
Loss on disposal of fixed assets - 23,255
Finance costs 60,182 41,741
Finance income (6,119 ) (1,083 )
983,360 648,535
(Increase)/decrease in trade and other debtors (106,612 ) 62,784
Increase/(decrease) in trade and other creditors 83,627 (22,221 )
Cash generated from operations 960,375 689,098

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2023
31.10.23 1.11.22
£    £   
Cash and cash equivalents 523,859 1,226,587
Bank overdrafts (3,269 ) (13,161 )
520,590 1,213,426
Year ended 31 October 2022
31.10.22 1.11.21
as restated
£    £   
Cash and cash equivalents 1,226,587 1,260,855
Bank overdrafts (13,161 ) -
1,213,426 1,260,855


Oakwood House (UK) Ltd (Registered number: 08419630)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 October 2023

3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.11.22 Cash flow At 31.10.23
£    £    £   
Net cash
Cash at bank and in hand 1,226,587 (702,728 ) 523,859
Bank overdrafts (13,161 ) 9,892 (3,269 )
1,213,426 (692,836 ) 520,590

Liquid resources
Current asset investments 2,478 - 2,478
2,478 - 2,478
Debt
Finance leases (2,799 ) (15,427 ) (18,226 )
Debts falling due within 1 year (209,829 ) 35,482 (174,347 )
Debts falling due after 1 year (960,096 ) 170,182 (789,914 )
(1,172,724 ) 190,237 (982,487 )
Total 43,180 (502,599 ) (459,419 )

Oakwood House (UK) Ltd (Registered number: 08419630)

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

1. STATUTORY INFORMATION

Oakwood House (UK) Ltd 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and not provided
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Grants are accounted under the accruals model as permitted under FRS 102. Grants relating to expenditure on tangible assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included within other creditors as deferred income.

Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

Oakwood House (UK) Ltd (Registered number: 08419630)

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

3. EMPLOYEES AND DIRECTORS
2023 2022
as restated
£    £   
Wages and salaries 2,685,482 2,213,838
Social security costs 168,145 129,117
Other pension costs 49,796 42,391
2,903,423 2,385,346

The average number of employees during the year was as follows:
2023 2022
as restated

Directors 2 2
Other staff 159 143
161 145

2023 2022
as restated
£    £   
Director's remuneration 26,057 26,179
Director's pension contributions to money purchase schemes 12,000 12,000

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
as restated
£    £   
Depreciation - owned assets 138,486 130,418
Loss on disposal of fixed assets - 23,255
Goodwill amortisation (342,183 ) (342,182 )
Auditors' remuneration 5,400 5,040

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
as restated
£    £   
Bank interest 871 469
Bank loan interest 57,869 40,559
Hire purchase 1,398 713
Corporation tax interest 44 -
60,182 41,741

Oakwood House (UK) Ltd (Registered number: 08419630)

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

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
as restated
£    £   
Current tax:
UK corporation tax 187,055 59,544

Deferred tax 3,912 (20,225 )
Tax on profit 190,967 39,319

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2023 2022
as restated
£    £   
Ordinary shares of 1 each
Interim 91,500 84,000

9. PRIOR YEAR ADJUSTMENT

A prior year adjustment has been made to correct depreciation charged on Freehold Property, which, since construction ended, has not been depreciated in line with the accounting policy in previous periods.

The adjustments made to previous years are as follows:

Year ended 31 October 2019: £22,883
Year ended 31 October 2020: £68,646
Year ended 31 October 2021: £68,646
Year ended 31 October 2022: £68,646

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 (1,710,913 )
AMORTISATION
At 1 November 2022 (684,365 )
Amortisation for year (342,183 )
At 31 October 2023 (1,026,548 )
NET BOOK VALUE
At 31 October 2023 (684,365 )
At 31 October 2022 (1,026,548 )

Oakwood House (UK) Ltd (Registered number: 08419630)

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

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022 7,539,340 510,696 31,445 8,081,481
Additions 1,219,422 2,376 41,710 1,263,508
At 31 October 2023 8,758,762 513,072 73,155 9,344,989
DEPRECIATION
At 1 November 2022 882,050 350,280 31,445 1,263,775
Charge for year 106,561 23,235 8,690 138,486
At 31 October 2023 988,611 373,515 40,135 1,402,261
NET BOOK VALUE
At 31 October 2023 7,770,151 139,557 33,020 7,942,728
At 31 October 2022 6,657,290 160,416 - 6,817,706

Included in cost of land and buildings is freehold land of £ 698,595 which is not depreciated.

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 November 2022 2,290,735
Additions 100
At 31 October 2023 2,290,835
NET BOOK VALUE
At 31 October 2023 2,290,835
At 31 October 2022 2,290,735


13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
as restated as restated
£    £    £    £   
Trade debtors 286,052 315,399 - -
Amounts owed by group undertakings 1,053,853 904,762 1,592,288 1,043,288
Other debtors - 7,372 - -
Prepayments and accrued income 49,440 55,200 - -
1,389,345 1,282,733 1,592,288 1,043,288

Oakwood House (UK) Ltd (Registered number: 08419630)

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

14. CURRENT ASSET INVESTMENTS

Group
2023 2022
as restated
£    £   
Listed investments 2,478 2,478

Market value of listed investments held by the group at 31 October 2023 - £2,477 (2022 - £2,477).

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
as restated as restated
£    £    £    £   
Bank loans and overdrafts (see note 17) 177,616 222,990 - -
Hire purchase contracts (see note 18) 8,412 2,799 - -
Trade creditors 158,279 222,811 - -
Amounts owed to group undertakings 598,651 598,651 - -
Tax 198,158 70,602 28,498 25,162
Social security and other taxes 27,532 6,872 - -
Other creditors 161,804 61,804 100,200 100
No description 178,507 - - -
Directors' current accounts 157,203 151,604 66,693 61,094
Accruals and deferred income 74,283 225,294 3,840 7,081
1,740,445 1,563,427 199,231 93,437

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2023 2022
as restated
£    £   
Bank loans (see note 17) 789,914 960,096
Hire purchase contracts (see note 18) 9,814 -
799,728 960,096

17. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
as restated
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 3,269 13,161
Bank loans 174,347 209,829
177,616 222,990
Amounts falling due between two and five years:
Bank loans - 2-5 years 789,914 960,096

Oakwood House (UK) Ltd (Registered number: 08419630)

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

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
as restated
£    £   
Net obligations repayable:
Within one year 8,412 2,799
Between one and five years 9,814 -
18,226 2,799

19. PROVISIONS FOR LIABILITIES

Group
2023 2022
as restated
£    £   
Deferred tax 7,135 3,223

Group
Deferred
tax
£   
Balance at 1 November 2022 3,223
Charge to Income Statement during year 3,912
Balance at 31 October 2023 7,135

20. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
400 Ordinary 1 400 400

21. RESERVES

Group
Retained Share
earnings premium Totals
£    £    £   

At 1 November 2022 2,267,372 3,737,259 6,004,631
Prior year adjustment (228,821 ) (228,821 )
2,038,551 5,775,810
Profit for the year 942,027 942,027
Dividends (91,500 ) (91,500 )
At 31 October 2023 2,889,078 3,737,259 6,626,337