Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 02917926 Mr Krishnathasan Navaratnam Mr Praveen Dsouza Mr Mark Lodge Fuel 24 Limtied true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02917926 2023-06-30 02917926 2024-06-30 02917926 2023-07-01 2024-06-30 02917926 frs-core:CurrentFinancialInstruments 2024-06-30 02917926 frs-core:Non-currentFinancialInstruments 2024-06-30 02917926 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-30 02917926 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02917926 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 02917926 frs-core:RevaluationReserve 2023-06-30 02917926 frs-core:RevaluationReserve 2024-06-30 02917926 frs-core:ShareCapital 2024-06-30 02917926 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 02917926 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02917926 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 02917926 frs-bus:SmallEntities 2023-07-01 2024-06-30 02917926 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02917926 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02917926 1 2023-07-01 2024-06-30 02917926 frs-bus:Director1 2023-07-01 2024-06-30 02917926 frs-bus:Director2 2023-07-01 2024-06-30 02917926 frs-bus:Director3 2023-07-01 2024-06-30 02917926 frs-countries:EnglandWales 2023-07-01 2024-06-30 02917926 2022-06-30 02917926 2023-06-30 02917926 2022-07-01 2023-06-30 02917926 frs-core:CurrentFinancialInstruments 2023-06-30 02917926 frs-core:Non-currentFinancialInstruments 2023-06-30 02917926 frs-core:RevaluationReserve 2023-06-30 02917926 frs-core:ShareCapital 2023-06-30 02917926 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 02917926
OAKLYN LIMITED
Financial Statements
For The Year Ended 30 June 2024
Goldstar Accountants Ltd
Chartered Accountants & Registered Auditors
63 London Street
Reading
RG1 4PS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02917926
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,237,375 2,450,000
6,237,375 2,450,000
CURRENT ASSETS
Cash at bank and in hand 7,824 48,753
7,824 48,753
Creditors: Amounts Falling Due Within One Year 5 (2,470 ) (33,737 )
NET CURRENT ASSETS (LIABILITIES) 5,354 15,016
TOTAL ASSETS LESS CURRENT LIABILITIES 6,242,729 2,465,016
Creditors: Amounts Falling Due After More Than One Year 6 (3,061,803 ) 563,597
NET ASSETS 3,180,926 3,028,613
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Revaluation reserve 8 2,195,939 2,195,939
Profit and Loss Account 983,987 831,674
SHAREHOLDERS' FUNDS 3,180,926 3,028,613
Page 1
Page 2
For the year ending 30 June 2024 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 Krishnathasan Navaratnam
Director
29/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
OAKLYN LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 02917926 . The registered office is 519 Basingstoke Road, Reading, RG2 0SH.
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:
Freehold Recorded as per revaluation.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Freehold
£
Cost or Valuation
As at 1 July 2023 2,450,000
Additions 3,787,375
As at 30 June 2024 6,237,375
Net Book Value
As at 30 June 2024 6,237,375
As at 1 July 2023 2,450,000
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 -
Corporation tax 1,209 32,537
Accruals and deferred income 1,260 1,200
2,470 33,737
Page 4
Page 5
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 3,061,803 (563,597 )
Amounts owed to group undertakings are the inter-company balance payable to:
2024
2023
£
£
Rottner & Rudge Limited
853,803
(563,597)
UK2000 Ltd
1,283,000
Krisco Services Limited
325,000
UK Forecourts Limited
600,000
image
image
3,061,803
image
(563,597)
image
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
8. Reserves
Revaluation Reserve
£
As at 1 July 2023 2,195,939
As at 30 June 2024 2,195,939
9. Ultimate Controlling Party
The company's ultimate controlling party is Fuel 24 Limtied by virtue of the ownership of 100% of the issued share capital in the company.
Page 5