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Registered number: 11093430
Oakwood Development and Construction Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Turnerwarran
Glanford House
Bridge Street
Brigg
North Lincolnshire
DN20 8NF
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11093430
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 47,438 55,330
Investment Properties 5 312,696 312,696
360,134 368,026
CURRENT ASSETS
Debtors 6 16,339 56,339
Cash at bank and in hand 2,259 5,414
18,598 61,753
Creditors: Amounts Falling Due Within One Year 7 (427,940 ) (445,034 )
NET CURRENT ASSETS (LIABILITIES) (409,342 ) (383,281 )
TOTAL ASSETS LESS CURRENT LIABILITIES (49,208 ) (15,255 )
NET LIABILITIES (49,208 ) (15,255 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (49,308 ) (15,355 )
SHAREHOLDERS' FUNDS (49,208) (15,255)
Page 1
Page 2
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Profit and Loss Account.
On behalf of the board
Mr Jason Kendrick
Director
12/03/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Oakwood Development and Construction Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11093430 . The registered office is Crown Cottage , Suckley , Worcester , WR6 5EH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% Reducing Balance
2.4. 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 profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2023 77,526
As at 31 December 2023 77,526
Depreciation
As at 1 January 2023 22,196
Provided during the period 7,892
As at 31 December 2023 30,088
Net Book Value
As at 31 December 2023 47,438
As at 1 January 2023 55,330
Page 3
Page 4
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 and 31 December 2023 312,696
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,400 2,400
Other debtors 13,939 53,939
16,339 56,339
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 125,000 125,000
VAT 2,958 2,400
Accruals and deferred income 1,365 1,365
Directors' loan accounts 298,617 316,269
427,940 445,034
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4