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OAKHILL PROPERTIES LIMITED
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03456570
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,130,000 2,355,000
Investments 5 231,150 231,150
2,361,150 2,586,150
CURRENT ASSETS
Debtors 6 290,176 263,134
Cash at bank and in hand 28,157 2,120
318,333 265,254
Creditors: Amounts Falling Due Within One Year 7 (33,651 ) (18,205 )
NET CURRENT ASSETS (LIABILITIES) 284,682 247,049
TOTAL ASSETS LESS CURRENT LIABILITIES 2,645,832 2,833,199
Creditors: Amounts Falling Due After More Than One Year 8 (1,127,062 ) (1,145,017 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (223,705 ) (209,962 )
NET ASSETS 1,295,065 1,478,220
CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 12 901,397 1,140,140
Profit and Loss Account 393,568 337,980
SHAREHOLDERS' FUNDS 1,295,065 1,478,220
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Costas Mouyiaris
Director
30/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Oakhill Properties Limited is a private company, limited by shares, incorporated in England and Wales, registered number 03456570. The registered office is 41 High Street, London, N14 6LD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises Income from Investment Properties; Value Added Tax is not applicable.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
The Director does not consideer that any of the properties require amortization
Leasehold 0%
Fixtures & Fittings Small Balance Written Off
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the Profit and Loss Account. The Properties have been professionally revalued close to the Balance Sheet date.
3. Average Number of Employees
Average number of employees, excluding directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 November 2022 2,355,000 4,717 2,359,717
Revaluation (225,000) - (225,000 )
As at 31 October 2023 2,130,000 4,717 2,134,717
Depreciation
As at 1 November 2022 - 4,717 4,717
As at 31 October 2023 - 4,717 4,717
Net Book Value
As at 31 October 2023 2,130,000 - 2,130,000
As at 1 November 2022 2,355,000 - 2,355,000
The Leasehold Property is in the accounts at the Revaution figures, no amortization is considered appropriate at this time.
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Page 4
5. Investments
Unlisted
£
Cost
As at 1 November 2022 231,150
As at 31 October 2023 231,150
Provision
As at 1 November 2022 -
As at 31 October 2023 -
Net Book Value
As at 31 October 2023 231,150
As at 1 November 2022 231,150
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 6,765 5,524
Amounts owed by associates 25,801 -
32,566 5,524
Due after more than one year
Amounts owed by joint-ventures 257,610 257,610
290,176 263,134
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,601 4,705
Bank loans and overdrafts 18,000 16,000
Director's loan account 8,050 -
Amounts owed to associates 5,000 (2,500 )
33,651 18,205
The accounts reflect the capital element of the Bank Loans that fall due for repayment within one year
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,127,062 1,145,017
The figure in the accounts reflects the Bank Loans which are repayable after one year but less than five years.
Page 4
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9. Deferred Taxation
The provision for deferred taxation is made up of taxation which would fall due as at the year end if the properties revalued were sold, as at the year end, at the Revalued figures. Brought forward losses not considered. 
2023 2022
£ £
Other timing differences 223,705 209,962
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Dividends
A Dividend of £0 was paid in the year (2021 - £2,000)
12. Reserves
Revaluation Reserve
£
As at 1 November 2022 1,140,140
Deficit on revaluation (238,743)
As at 31 October 2023 901,397
13. Ultimate Controlling Party
The company's ultimate controlling party is Mr C Mouyiaris by virtue of his ownership of 100% of the issued share capital in the company.
Page 5