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Registered Number: 03006852


 

 

 


Unaudited Financial Statements

for the year ended 31 January 2024

for

OLDMAN HOMES LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 31,852    42,317 
Investments 4 245,611    245,611 
277,463    287,928 
Current assets      
Stocks 5 3,948,681    2,534,807 
Debtors 6 924,303    1,356,222 
Cash at bank and in hand 505,085    939,006 
5,378,069    4,830,035 
Creditors: amount falling due within one year 7 (1,216,786)   (642,928)
Net current assets 4,161,283    4,187,107 
 
Total assets less current liabilities 4,438,746    4,475,035 
Creditors: amount falling due after more than one year 8   (12,466)
Provisions for liabilities 9 (7,842)   (10,579)
Net assets 4,430,904    4,451,990 
 

Capital and reserves
     
Called up share capital 150    150 
Profit and loss account 4,430,754    4,451,840 
Shareholders' funds 4,430,904    4,451,990 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 October 2024 and were signed on its behalf by:


-------------------------------
Philip OLDMAN
Director
1
General Information
Oldman Homes Limited is a private company, limited by shares, registered in , registration number 03006852, registration address .

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 February 2023 33,248    76,590    30,692    140,530 
Additions      
Disposals      
At 31 January 2024 33,248    76,590    30,692    140,530 
Depreciation
At 01 February 2023 27,389    45,089    25,654    98,132 
Charge for year 1,465    7,855    1,226    10,546 
On disposals      
At 31 January 2024 28,854    52,944    26,880    108,678 
Net book values
Closing balance as at 31 January 2024 4,394    23,646    3,812    31,852 
Opening balance as at 01 February 2023 5,859    31,420    5,038    42,317 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 February 2023 245,611    245,611 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 January 2024 245,611    245,611 

5.

Stocks

2024
£
  2023
£
Work in Progress 3,948,681    2,534,807 
3,948,681    2,534,807 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 58,529    51,158 
Prepayments & Accrued Income   5,073 
Other Debtors 682,711    1,102,805 
Directors' Current Accounts 125,347    148,422 
VAT 51,741    48,764 
918,328    1,356,222 

6.

Debtors: amounts falling due after one year

2024
£
  2023
£
Prepayments 5,975   
5,975   

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 104,395    155,171 
Amounts Owed to Participating Interests 70,000   
Corporation Tax 42,080    93,054 
PAYE & Social Security 4,356    8,440 
Accrued Expenses 82,338    373,501 
Other Creditors 901,152    5,376 
Obligations under HP/Financial Leases 12,465    7,386 
1,216,786    642,928 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations Under HP/Financial Leases   12,466 
  12,466 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 10,579    14,135 
Charged to Profit & Loss (2,737)   (3,556)
7,842    10,579 

2