Company registration number 08364572 (England and Wales)
OAKLEY 5000 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
OAKLEY 5000 LIMITED
COMPANY INFORMATION
Directors
Mr D R Larkin
Mrs L Larkin
Company number
08364572
Registered office
26 Chesterton Close
Hunt End
Redditch
Worcestershire
B97 5XS
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Starling Bank Limited
3rd Floor
2 Finsbury Avenue
London
EC2M 2PP
OAKLEY 5000 LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
OAKLEY 5000 LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF OAKLEY 5000 LIMITED FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oakley 5000 Limited for the year ended 30 June 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Oakley 5000 Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oakley 5000 Limited and state those matters that we have agreed to state to the board of directors of Oakley 5000 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oakley 5000 Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Oakley 5000 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oakley 5000 Limited. You consider that Oakley 5000 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oakley 5000 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
15 October 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
OAKLEY 5000 LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
450,000
450,000
Current assets
Cash at bank and in hand
99,606
8,549
Creditors: amounts falling due within one year
4
(205,135)
(220,966)
Net current liabilities
(105,529)
(212,417)
Total assets less current liabilities
344,471
237,583
Creditors: amounts falling due after more than one year
5
(103,000)
-
0
Provisions for liabilities
6
(45,062)
(45,062)
Net assets
196,409
192,521
Capital and reserves
Called up share capital
8
100
100
Other reserves
192,108
192,108
Profit and loss reserves
4,201
313
Total equity
196,409
192,521

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 30 June 2024 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.

OAKLEY 5000 LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 15 October 2024 and are signed on its behalf by:
Mr D R Larkin
Mrs L Larkin
Director
Director
Company registration number 08364572 (England and Wales)
OAKLEY 5000 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Oakley 5000 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 26 Chesterton Close, Hunt End, Redditch, Worcestershire, B97 5XS.

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 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
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

OAKLEY 5000 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
450,000

The directors have assessed the market value of the property and consider that there has been no significant change in the market value at the year end.

4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,488
18,488
Taxation and social security
912
99
Other creditors
200,735
202,379
205,135
220,966
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
103,000
-
0
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
45,062
45,062
OAKLEY 5000 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
103,000
-
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
45
45
45
45
Ordinary of £1 each
45
45
45
45
Ordinary Deferred of £1 each
5
5
5
5
Ordinary Preferred of £1 each
5
5
5
5
100
100
100
100
9
Ultimate controlling party

The ultimate controlling party is Mr D R Larkin and Mrs L Larkin.

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