Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-302023-05-302022-06-011truefalse1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10242520 2022-06-01 2023-05-30 10242520 2021-06-01 2022-05-31 10242520 2023-05-30 10242520 2022-05-31 10242520 c:Director1 2022-06-01 2023-05-30 10242520 d:MotorVehicles 2022-06-01 2023-05-30 10242520 d:MotorVehicles 2023-05-30 10242520 d:MotorVehicles 2022-05-31 10242520 d:CurrentFinancialInstruments 2023-05-30 10242520 d:CurrentFinancialInstruments 2022-05-31 10242520 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-30 10242520 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 10242520 d:ShareCapital 2023-05-30 10242520 d:ShareCapital 2022-05-31 10242520 d:RetainedEarningsAccumulatedLosses 2023-05-30 10242520 d:RetainedEarningsAccumulatedLosses 2022-05-31 10242520 c:OrdinaryShareClass1 2022-06-01 2023-05-30 10242520 c:OrdinaryShareClass1 2023-05-30 10242520 c:OrdinaryShareClass1 2022-05-31 10242520 c:FRS102 2022-06-01 2023-05-30 10242520 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-30 10242520 c:FullAccounts 2022-06-01 2023-05-30 10242520 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-30 10242520 e:PoundSterling 2022-06-01 2023-05-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10242520









OAKMONT PROPERTY DEVELOPMENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 MAY 2023

 
OAKMONT PROPERTY DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10242520

BALANCE SHEET
AS AT 30 MAY 2023

30 May
Restated 31 May
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
1,406

  
-
1,406

Current assets
  

Debtors: amounts falling due within one year
 5 
19,150
44,308

Cash at bank
  
44,410
32,835

  
63,560
77,143

Creditors: amounts falling due within one year
 6 
(28,658)
(52,857)

Net current assets
  
 
 
34,902
 
 
24,286

Total assets less current liabilities
  
34,902
25,692

  

Net assets
  
34,902
25,692


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
34,901
25,691

  
34,902
25,692

Page 1

 
OAKMONT PROPERTY DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10242520

BALANCE SHEET (CONTINUED)
AS AT 30 MAY 2023

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
Mr J White
Director

Date: 2 August 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
OAKMONT PROPERTY DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MAY 2023

1.


General information

Oakmont Property Developments Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdom.
The principal activity of the Company continues to be that of providing landscaping services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The Company's functional and presentational currency is Pounds sterling.
The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Director has considered the going concern basis in preparing these financial statements. He has concluded that the going concern basis is appropriate because sufficient funds will be generated from future trading and continued support from family owned companies, as disclosed in the related party transactions note, for a period of at least twelve months from the date of the approval of these financial statements to enable the company to meet its liabilities as they arise.
The financial statements do not include any adjustments that would result from the withdrawal of this support.

 
2.3

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
OAKMONT PROPERTY DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MAY 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The corporation tax charges is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates incomes.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured at fair value.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured at fair value.
Page 4

 
OAKMONT PROPERTY DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MAY 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objectives evidence of impairment is found an impairment loss is recognised in the Profit and Loss Account.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees





The average monthly number of employees, including directors, during the period was 1 (2022 - 1).


4.


Tangible fixed assets







Motor vehicles

£





At 1 June 2022
2,500


Disposals
(2,500)



At 30 May 2023

-





At 1 June 2022
1,094


Disposals
(1,094)



At 30 May 2023

-



Net book value



At 30 May 2023
-



At 31 May 2022
1,406
Page 5

 
OAKMONT PROPERTY DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MAY 2023

5.


Debtors

30 May
Restated 31 May
2023
2022
£
£


Amounts owed by associated undertakings
19,150
11,150

Other debtors
-
33,158

19,150
44,308



6.


Creditors: Amounts falling due within one year

30 May
Restated 31 May
2023
2022
£
£

Amounts owed to associates
2,765
-

Corporation tax
9,648
10,070

Other creditors
13,245
38,749

Accruals and deferred income
3,000
4,038

28,658
52,857



7.


Share capital

30 May
31 May
2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) ordinary share of £1.00
1
1



8.


Prior year adjustment

A prior year adjustment has been included within these financial statements to reclassify loans with associate companies from creditors due in more than year, to creditors due within one year. This adjustment decreased creditors due in more than one year by £38,749 and increased creditors due within one year by £38,749.
In addition to the above there was an additional prior year adjustment to restate the balance sheet. The adjustment has decreased stock by £109,700, decreased other debtors by £5,000, increased other creditors by £80,598 and increased the directors loan by £34,102.
No further adjustments have been recognised except for those detailed above.

Page 6

 
OAKMONT PROPERTY DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MAY 2023

9.


Related party transactions

During the year the Company operated loans with the director of the Company. The amount payable to the director at the year end was £13,245 (2022 - £33,158 debtor). This loan is interest free and repayable on demand.
During the year the company continued to operate loans with associate companies. The net amout receivable was £19,150 (2022 -  £27,599). These loans are interest free and repayable on demand.


10.


Controlling party

The controlling party is Mr J White by virtue of his 100% shareholding.

Page 7