Company registration number 09255916 (England and Wales)
OAKSTER HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
OAKSTER HOLDINGS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OAKSTER HOLDINGS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,676,436
1,675,997
Current assets
Debtors
4
2,505
3,863
Cash at bank and in hand
5,293
30,936
7,798
34,799
Creditors: amounts falling due within one year
5
(42,024)
(90,558)
Net current liabilities
(34,226)
(55,759)
Net assets
1,642,210
1,620,238
Capital and reserves
Called up share capital
2
2
Revaluation reserve
6
544,424
544,424
Profit and loss reserves
1,097,784
1,075,812
Total equity
1,642,210
1,620,238
The directors of the company have 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 directors acknowledge their 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.
The financial statements were approved by the board of directors and authorised for issue on 18 September 2024 and are signed on its behalf by:
David Oakley
Alison Oakley
Director
Director
Company registration number 09255916 (England and Wales)
OAKSTER HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Oakster Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 19 Corn Close, Marston Moretaine, BEDFORD, Beds, UK, MK43 0WH.
1.1
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
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:
Freehold land and buildings
No depreciaton
Plant and equipment
25% Straight line
Computers
25% Straight line
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.
1.3
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
OAKSTER HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
3
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Computers
Total
£
£
£
£
Cost or valuation
At 1 January 2023
1,675,000
746
2,588
1,678,334
Additions
1,914
1,914
Disposals
(2,588)
(2,588)
At 31 December 2023
1,675,000
746
1,914
1,677,660
Depreciation and impairment
At 1 January 2023
558
1,779
2,337
Depreciation charged in the year
187
479
666
Eliminated in respect of disposals
(1,779)
(1,779)
At 31 December 2023
745
479
1,224
Carrying amount
At 31 December 2023
1,675,000
1
1,435
1,676,436
At 31 December 2022
1,675,000
188
809
1,675,997
Land and buildings with a carrying amount of £1,675,000 were revalued at 31 December 2023 by independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.
The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:
Land and property
Plant and equipment
2023
2022
2023
2022
£
£
£
£
Cost
1,130,546
1,130,546
2,660
3,334
Accumulated depreciation
-
-
(1,224)
(2,337)
Carrying value
1,130,546
1,130,546
1,436
997
OAKSTER HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
2,505
3,863
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
384
49
Corporation tax
11,161
21,306
Other taxation and social security
1,355
951
Other creditors
29,124
68,252
42,024
90,558
6
Revaluation reserve
2023
2022
£
£
At the beginning of the year
544,424
416,424
Other movements
-
128,000
At the end of the year
544,424
544,424