2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 30,437 30,437 xbrli:pure xbrli:shares iso4217:GBP 05202576 2023-02-01 2024-01-31 05202576 2024-01-31 05202576 2023-01-31 05202576 2022-02-01 2023-01-31 05202576 2023-01-31 05202576 2022-01-31 05202576 core:PlantMachinery 2023-02-01 2024-01-31 05202576 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 05202576 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 05202576 bus:OrdinaryShareClass3 2023-02-01 2024-01-31 05202576 bus:OrdinaryShareClass4 2023-02-01 2024-01-31 05202576 bus:OrdinaryShareClass5 2023-02-01 2024-01-31 05202576 bus:Director2 2023-02-01 2024-01-31 05202576 core:PlantMachinery 2024-01-31 05202576 core:WithinOneYear 2024-01-31 05202576 core:WithinOneYear 2023-01-31 05202576 core:AfterOneYear 2024-01-31 05202576 core:AfterOneYear 2023-01-31 05202576 core:ShareCapital 2024-01-31 05202576 core:ShareCapital 2023-01-31 05202576 core:CapitalRedemptionReserve 2024-01-31 05202576 core:CapitalRedemptionReserve 2023-01-31 05202576 core:RetainedEarningsAccumulatedLosses 2024-01-31 05202576 core:RetainedEarningsAccumulatedLosses 2023-01-31 05202576 bus:SmallEntities 2023-02-01 2024-01-31 05202576 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05202576 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05202576 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05202576 bus:FullAccounts 2023-02-01 2024-01-31 05202576 bus:OrdinaryShareClass1 2024-01-31 05202576 bus:OrdinaryShareClass1 2023-01-31 05202576 bus:OrdinaryShareClass2 2024-01-31 05202576 bus:OrdinaryShareClass2 2023-01-31 05202576 bus:OrdinaryShareClass3 2024-01-31 05202576 bus:OrdinaryShareClass3 2023-01-31 05202576 bus:OrdinaryShareClass4 2024-01-31 05202576 bus:OrdinaryShareClass4 2023-01-31 05202576 bus:OrdinaryShareClass5 2024-01-31 05202576 bus:OrdinaryShareClass5 2023-01-31 05202576 bus:AllOrdinaryShares 2024-01-31 05202576 bus:AllOrdinaryShares 2023-01-31
COMPANY REGISTRATION NUMBER: 05202576
Oakville Homes Limited
Unaudited financial statements
31 January 2024
Oakville Homes Limited
Statement of financial position
31 January 2024
2024
2023
Note
£
£
£
£
Current assets
Stocks
6
2,476,100
2,476,100
Debtors
7
440,962
181,649
Cash at bank and in hand
43,844
97,406
-----------
-----------
2,960,906
2,755,155
Creditors: Amounts falling due within one year
8
( 360,079)
( 86,662)
-----------
-----------
Net current assets
2,600,827
2,668,493
-----------
-----------
Total assets less current liabilities
2,600,827
2,668,493
Creditors: Amounts falling due after more than one year
9
( 1,043,261)
( 1,115,821)
-----------
-----------
Net assets
1,557,566
1,552,672
-----------
-----------
Capital and reserves
Called up share capital
10
500
500
Capital redemption reserve
1
1
Profit and loss account
1,557,065
1,552,171
-----------
-----------
Shareholders funds
1,557,566
1,552,672
-----------
-----------
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 income statement has not been delivered.
For the year ending 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:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
Mr T N Philpot
Director
Company registration number: 05202576
Oakville Homes Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bankside 300, Peachman Way, Broadland Business Park, Norwich, Norfolk, NR7 0LB, England.
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 the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received on properties sold during the year, stated net of discounts and of Value Added Tax. Revenue from properties sold is recognised when the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the 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.
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:
Plant and machinery
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of employees during the year was 2 (2023: 2 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 February 2023 and 31 January 2024
30,437
30,437
-------
-------
Depreciation
At 1 February 2023 and 31 January 2024
30,437
30,437
-------
-------
Carrying amount
At 31 January 2024
-------
-------
At 31 January 2023
-------
-------
6. Stocks
2024
2023
£
£
Raw materials and consumables
2,476,100
2,476,100
-----------
-----------
7. Debtors
2024
2023
£
£
Trade debtors
2,000
1,250
Amounts owed by group undertakings in which the company has a participating interest.
29,634
21,518
Other debtors
409,328
158,881
---------
---------
440,962
181,649
---------
---------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
78,397
78,397
Trade creditors
6,928
Amounts owed to group undertakings in which the company has a participating interest
112,106
Social security and other taxes
1,248
30,776
Other creditors
161,400
( 22,511)
---------
-------
360,079
86,662
---------
-------
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,043,261
1,115,821
-----------
-----------
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary Class A shares of £ 1 each
100
100
100
100
Ordinary Class B shares of £ 1 each
200
200
200
200
Ordinary Class C shares of £ 1 each
80
80
80
80
Ordinary Class D shares of £ 1 each
20
20
20
20
Ordinary Class E shares of £ 1 each
50
50
50
50
Ordinary Class F shares of £1 each
50
50
50
50
----
----
----
----
500
500
500
500
----
----
----
----
11. Directors' advances, credits and guarantees
The directors operate a loan account as at the 31 January 2024 the balance was overdrawn by £Nil (2023 : £137,879). HMRC's standard rate of interest has been charged in both the current and prior year.