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COMPANY REGISTRATION NUMBER: 05530101
OAKWOOD HOMES ESTATE AGENTS (BIRCHINGTON) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
OAKWOOD HOMES ESTATE AGENTS (BIRCHINGTON) LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
5
1,497
1,497
CURRENT ASSETS
Debtors
6
36,927
----
---------
NET CURRENT ASSETS
36,927
-------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,497
38,424
CREDITORS: amounts falling due after more than one year
7
46,162
-------
---------
NET ASSETS/(LIABILITIES)
1,497
( 7,738)
-------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Share premium account
24,900
24,900
Revaluation reserve
( 2,748)
Profit and loss account
( 20,755)
( 32,738)
---------
---------
SHAREHOLDERS FUNDS/(DEFICIT)
1,497
( 7,738)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
OAKWOOD HOMES ESTATE AGENTS (BIRCHINGTON) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
A Dickinson
Director
Company registration number: 05530101
OAKWOOD HOMES ESTATE AGENTS (BIRCHINGTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Stockwell House, Cecil Square, Margate, Kent, CT9 1BD.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of Preparation
The financial statements have been prepared on a going concern basis. This is due to the continued financial support of the parent company.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
15% reducing balance
Computer Equipment
-
15% reducing balance
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. TANGIBLE ASSETS
Fixtures and fittings
User defined asset
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
38,681
9,731
48,412
---------
-------
---------
Depreciation
At 1 January 2023 and 31 December 2023
37,184
9,731
46,915
---------
-------
---------
Carrying amount
At 31 December 2023
1,497
1,497
---------
-------
---------
At 31 December 2022
1,497
1,497
---------
-------
---------
6. DEBTORS
2023
2022
£
£
Trade debtors
30,000
Amounts owed by group undertakings and undertakings in which the company has a participating interest
6,000
Other debtors
927
----
---------
36,927
----
---------
7. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
46,162
----
---------
8. RELATED PARTY TRANSACTIONS
The company was under the ultimate control of Mr A Dickinson during the year, by virtue that he owns the majority of the share capital of the parent company, Oakwood Homes Estate Agents Limited. All income and expenses were generated through the parent company and recharged to Oakwood Homes Estate Agents (Birchington) Ltd through the intercompany account. At the year end, Oakwood Homes Estate Agents (Birchington) Ltd owed Oakwood Homes Estate Agents Ltd £4,179 (2022 - £46,161)
9. CONTROLLING PARTY
The company's parent company is Oakwood Homes Estate Agents Ltd, which holds 75% of the company's shares.