REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended 31 October 2023 |
for |
OXFORD PARKLANDS LIMITED |
REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended 31 October 2023 |
for |
OXFORD PARKLANDS LIMITED |
OXFORD PARKLANDS LIMITED (REGISTERED NUMBER: 01930983) |
Contents of the Financial Statements |
for the year ended 31 October 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
OXFORD PARKLANDS LIMITED |
Company Information |
for the year ended 31 October 2023 |
Directors: |
Registered office: |
Registered number: |
Independent auditors: |
Statutory Auditor |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
OXFORD PARKLANDS LIMITED (REGISTERED NUMBER: 01930983) |
Balance Sheet |
31 October 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital | 7 |
Capital redemption reserve | 8 |
Fair value reserve | 8 |
Retained earnings | 8 |
Shareholders' funds |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
OXFORD PARKLANDS LIMITED (REGISTERED NUMBER: 01930983) |
Notes to the Financial Statements |
for the year ended 31 October 2023 |
1. | Statutory information |
Oxford Parklands Limited is a |
The financial statements are presented in Sterling, which is the functional currency of the company, rounded to the nearest £1. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Sales of land and buildings are accounted for on completion. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
OXFORD PARKLANDS LIMITED (REGISTERED NUMBER: 01930983) |
Notes to the Financial Statements - continued |
for the year ended 31 October 2023 |
2. | Accounting policies - continued |
Going concern |
In view of the continued financial support from the parent company, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Purchase of land and buildings |
Purchases of land and buildings are accounted for on completion. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Investment property |
Total |
£ |
Fair value |
At 1 November 2022 |
Disposals | ( |
) |
Revaluations | 644,600 |
At 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
Investment property consists of freehold property valued by the directors at £6,454,600 (2022 - £6,210,000) and leasehold property valued by the directors at £25,000 (2022 - £25,000.) |
The original cost of the freehold property was £4,036,805 (2022 - £4,238,805) and the leasehold property £24,500 (2022 - £24,500.) |
The directors are of the opinion that the properties are stated at their open market value at 31 October 2023. |
Fair value at 31 October 2023 is represented by: |
£ |
Valuation in 1985 | 1,586,550 |
Valuation in 2021 | 115,000 |
Valuation in 2022 | 270,145 |
Valuation in 2023 | 446,600 |
Cost | 4,061,305 |
6,479,600 |
OXFORD PARKLANDS LIMITED (REGISTERED NUMBER: 01930983) |
Notes to the Financial Statements - continued |
for the year ended 31 October 2023 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
A ordinary shares | £1 | 540 | 540 |
8. | Reserves |
Capital |
Retained | redemption | Fair value |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 November 2022 | 5,345,857 | 60 | 1,911,821 | 7,257,738 |
Profit for the year | 913,768 | 913,768 |
Reserve transfer | (644,600 | ) | - | 285,450 | (359,150 | ) |
At 31 October 2023 | 5,615,025 | 60 | 2,197,271 | 7,812,356 |
9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
OXFORD PARKLANDS LIMITED (REGISTERED NUMBER: 01930983) |
Notes to the Financial Statements - continued |
for the year ended 31 October 2023 |
10. | Directors' advances, credits and guarantees |
The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
11. | Related party disclosures |
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. |
12. | Ultimate controlling party |
The company is a wholly owned subsidiary of Ede Holdings Limited, a company incorporated in England and Wales, whose registered office is Park House, Station Lane, Witney, Oxfordshire, OX28 4LH. Copies of Ede Holdings Limited group financial statements are available on the Companies House website |