REGISTERED NUMBER: |
Oaktower Properties Limited |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
REGISTERED NUMBER: |
Oaktower Properties Limited |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
Oaktower Properties Limited (Registered number: 04954220) |
Contents of the Financial Statements |
for the Year Ended 30 November 2023 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Oaktower Properties Limited |
Company Information |
for the Year Ended 30 November 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4 King Square |
Bridgwater |
Somerset |
TA6 3YF |
BANKERS: |
9 York Buildings |
Cornhill |
Bridgwater |
Somerset |
TA6 3BU |
Oaktower Properties Limited (Registered number: 04954220) |
Abridged Statement of Financial Position |
30 November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
Oaktower Properties Limited (Registered number: 04954220) |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
Oaktower Properties Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis which assumes the continuing support of the director and the company's bankers. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Land and buildings | - |
In accordance with Financial Reporting Standard 102, no depreciation is provided on investment properties. This departure from the the requirements of the Companies Act 2006 for all properties to be depreciated is, in the opinion of the directors, necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards, as properties are included at their open market value and so therefore, their fair values, though no formal valuation took place in the year, as it is considered by the directors that it would be unlikely to result in any significant changes to the values, and so there would be little to justify the cost of any valuation. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 December 2022 |
Additions |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
The director is not aware of any material changes to the valuation of the property hence no adjustment has been made. |
Oaktower Properties Limited (Registered number: 04954220) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans |
The bank loans are secured by charges over the freehold properties, namely 1 St Saviours Avenue, 1 Kingston Mews and 14 Heather Close. The director Michael Williams has in addition to the above, provided a personal guarantee using the properties named 4 and 6 Northgate. |
7. | ULTIMATE CONTROLLING PARTY |
The company was controlled throughout the current and previous period by its director, of the fact that he owns the majority of the company's ordinary share capital and has day to day control over the business. |