Company registration number 05654815 (England and Wales)
Oakes Manor Construction Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
Oakes Manor Construction Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
Oakes Manor Construction Limited
Balance Sheet
as at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
29,014
20,082
Investment property
4
401,952
400,000
430,966
420,082
Current assets
Debtors
352
133
Cash at bank and in hand
47,254
98,964
47,606
99,097
Creditors: amounts falling due within one year
(301,514)
(406,465)
Net current liabilities
(253,908)
(307,368)
Total assets less current liabilities
177,058
112,714
Creditors: amounts falling due after more than one year
(6,661)
(3,644)
Net assets
170,397
109,070
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
170,297
108,970
Total equity
170,397
109,070
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Oakes Manor Construction Limited
Balance Sheet (continued)
as at 31 December 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 16 September 2024
P O'Kane
Director
Company registration number 05654815 (England and Wales)
Oakes Manor Construction Limited
Notes to the financial statements
for the year ended 31 December 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
Turnover is recognised when the services are provided to the customer.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
- 25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Oakes Manor Construction Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
1
Accounting policies
(continued)
- 4 -
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
5
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 January 2023
43,407
Additions
14,250
At 31 December 2023
57,657
Depreciation and impairment
At 1 January 2023
23,325
Depreciation charged in the year
5,318
At 31 December 2023
28,643
Carrying amount
At 31 December 2023
29,014
At 31 December 2022
20,082
4
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
401,952
Investment property comprises of one property available for rent. The fair value of the investment property has been arrived at by the director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
Oakes Manor Construction Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 5 -
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
6
Company information
Oakes Manor Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.