Oakwater Estates Limited 10346675 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true true 10346675 2022-09-01 2023-08-31 10346675 2023-08-31 10346675 core:RetainedEarningsAccumulatedLosses 2023-08-31 10346675 core:ShareCapital 2023-08-31 10346675 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 10346675 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 10346675 bus:SmallEntities 2022-09-01 2023-08-31 10346675 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 10346675 bus:FilletedAccounts 2022-09-01 2023-08-31 10346675 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 10346675 bus:RegisteredOffice 2022-09-01 2023-08-31 10346675 bus:Director1 2022-09-01 2023-08-31 10346675 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10346675 countries:AllCountries 2022-09-01 2023-08-31 10346675 2022-08-31 10346675 2021-09-01 2022-08-31 10346675 2022-08-31 10346675 core:RetainedEarningsAccumulatedLosses 2022-08-31 10346675 core:ShareCapital 2022-08-31 10346675 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 10346675 core:Non-currentFinancialInstruments core:AfterOneYear 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 10346675

Oakwater Estates Limited



Filleted Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Oakwater Estates Limited

 

(Registration number: 10346675)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

850,000

850,000

Current assets

 

Debtors

5

188,694

182,319

Cash at bank and in hand

 

20,806

6,645

 

209,500

188,964

Creditors: Amounts falling due within one year

6

(91,975)

(63,164)

Net current assets

 

117,525

125,800

Total assets less current liabilities

 

967,525

975,800

Creditors: Amounts falling due after more than one year

6

(463,069)

(478,950)

Provisions for liabilities

(102,172)

(77,970)

Net assets

 

402,284

418,880

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

95,667

88,061

Non-distributable reserve

 

306,517

330,719

Total equity

 

402,284

418,880

 

Oakwater Estates Limited

 

(Registration number: 10346675)
Balance Sheet as at 31 August 2023

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 June 2024 and signed on its behalf by:
 

.........................................
Mr J Neumann
Director

 

Oakwater Estates Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Haffner Hoff Llp
Parkgates Bury New Road
Prestwich
Manchester
Lancashire
M25 0TL
United Kingdom

These financial statements were authorised for issue by the Board on 19 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Oakwater Estates Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Oakwater Estates Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 September 22

850,000

At 31 August 23

850,000

There has been no valuation of investment property by an independent valuer.

The historical cost of the property is £441,311.

 

Oakwater Estates Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

8,553

2,259

Other debtors

180,141

180,060

 

188,694

182,319

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

4,145

1,244

Other creditors

50,883

31,594

Corporation tax liability

907

-

Director current accounts

36,040

30,326

91,975

63,164

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

463,069

478,950

Creditors include bank loans which are secured of £424,520 (2022 - £435,200).