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Registered number: 08344396
Oak Apartments Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 08344396
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 600,000 600,000
600,000 600,000
CURRENT ASSETS
Cash at bank and in hand 17,305 30,479
17,305 30,479
Creditors: Amounts Falling Due Within One Year 5 (404,122 ) (440,116 )
NET CURRENT ASSETS (LIABILITIES) (386,817 ) (409,637 )
TOTAL ASSETS LESS CURRENT LIABILITIES 213,183 190,363
NET ASSETS 213,183 190,363
CAPITAL AND RESERVES
Called up share capital 1 1
Income Statement 213,182 190,362
SHAREHOLDERS' FUNDS 213,183 190,363
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For the year ending 31 December 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 her 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 Income Statement.
On behalf of the board
Mrs Y M Graham-Roe
Director
26/07/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Oak Apartments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08344396 . The registered office is First Floor, Embsay Mill, Embsay, Skipton, North Yorkshire, BD23 6QF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared under the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover represents rental income due and receivable during the year.
Rental income is invoiced monthly in advance, and is shown in the income statement for the period to which it relates.
2.3. 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 income statement.
2.4. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transactions price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
2.5. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference
2.6. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period is arises.
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2.7. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Investment Properties
£
Cost
As at 1 January 2023 601,077
As at 31 December 2023 601,077
Depreciation
As at 1 January 2023 1,077
As at 31 December 2023 1,077
Net Book Value
As at 31 December 2023 600,000
As at 1 January 2023 600,000
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 5,353 5,509
Accruals and deferred income 3,945 3,183
Amounts owed to group undertakings 394,824 431,424
404,122 440,116
6. Related Party Transactions
Included in creditors: amounts falling due within one year, is an amount of £431,424 (2021 - £443,424) owing to Whalley Homes Limited.
The balance is interest free and repayable on demand.
7. Ultimate Controlling Party
The company is a wholly owned subsidiary undertaking of Whalley Homes Limited.

The registered office of Whalley Homes Limited is Office 1 Embsay Mill, Embsay, Skipton, North Yorkshire, BD23 6QF.
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