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REGISTERED NUMBER: 02252685 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

OAKBRAY INVESTMENT COMPANY LIMITED

OAKBRAY INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 02252685)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OAKBRAY INVESTMENT COMPANY LIMITED

COMPANY INFORMATION
for the Year Ended 31st December 2023







DIRECTORS: Mr A J Key
Mr J A Key
Mrs J J Scragg





REGISTERED OFFICE: 136 Jug Bank
Ashley
Market Drayton
Shropshire
TF9 4JN





REGISTERED NUMBER: 02252685 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

OAKBRAY INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 02252685)

BALANCE SHEET
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 32,544 38,280
Investment property 5 4,335,000 4,335,000
4,367,544 4,373,280

CURRENT ASSETS
Debtors 6 187,691 217,143
Cash at bank 35,128 -
222,819 217,143
CREDITORS
Amounts falling due within one year 7 (873,425 ) (922,785 )
NET CURRENT LIABILITIES (650,606 ) (705,642 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,716,938

3,667,638

CREDITORS
Amounts falling due after more than one
year

8

(177,297

)

(234,657

)

PROVISIONS FOR LIABILITIES (63,326 ) (64,760 )
NET ASSETS 3,476,315 3,368,221

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Fair value reserve 11 2,525,102 2,525,102
Retained earnings 950,213 842,119
SHAREHOLDERS' FUNDS 3,476,315 3,368,221

OAKBRAY INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 02252685)

BALANCE SHEET - continued
31st December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th August 2024 and were signed on its behalf by:




Mr A J Key - Director



Mr J A Key - Director


OAKBRAY INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 02252685)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

Oakbray Investment Company Limited is a private company limited by share capital, incorporated in England and Wales, registration number 02252685. The address of the registered office and principal place of business is 136 Jug Bank, Ashley, Market Drayton, Shropshire, TF9 4JN.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
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.

Turnover
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of rental income and other recharged expenses from investment properties which are recognised at the point of which the goods or services are provided.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Plant and machinery- 15% on reducing balance

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Investment property
The investment property is a property held to earn rentals and/or for capital appreciation. The property is initially measured at cost, including transaction costs; subsequently the investment property is measured at fair value. Gains and losses arising from changes in the fair value of the investment property are included in the profit or loss in the period which they arise.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.


OAKBRAY INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 02252685)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued
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.

Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand. Bank borrowings and overdrafts are included in creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st January 2023
and 31st December 2023 155,666
DEPRECIATION
At 1st January 2023 117,386
Charge for year 5,736
At 31st December 2023 123,122
NET BOOK VALUE
At 31st December 2023 32,544
At 31st December 2022 38,280

OAKBRAY INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 02252685)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2023
and 31st December 2023 4,335,000
NET BOOK VALUE
At 31st December 2023 4,335,000
At 31st December 2022 4,335,000

Fair value at 31st December 2023 is represented by:
£   
Valuation in 2010 171,469
Valuation in 2016 840,949
Valuation in 2021 1,567,872
Cost 1,754,710
4,335,000

Investment properties were revalued to fair value at 13th May 2021, based on a valuation undertaken by .
Mounsey chartered surveyors.

This current revalued amount is deemed to be, by the directors, a reasonable approximation of the asset's market value at the year end.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 37,959 11,714
Amounts owed by group undertakings 54,561 61,525
Other debtors 95,171 143,904
187,691 217,143

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 48,471 123,775
Trade creditors 4,338 18,352
Taxation and social security 59,109 53,228
Other creditors 761,507 727,430
873,425 922,785

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 177,297 234,657

OAKBRAY INVESTMENT COMPANY LIMITED (REGISTERED NUMBER: 02252685)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 75,304
Bank loans 225,768 283,128
225,768 358,432

The bank facilities are secured by a cross guarantee and debenture by and between Oakbray Limited and Oakbray Investments Company Limited and supported by a legal charge over Whieldon Industrial Estate.

The bank loans are repayable by quarterly instalments.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1.00 1,000 1,000

11. RESERVES
Fair
value
reserve
£   
At 1st January 2023
and 31st December 2023 2,525,102

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the the Director' of the ultimate parent company of Oakbray Holdings Limited by virtue of their controlling interest in the ultimate parent.