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REGISTERED NUMBER: 04080775 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 MARCH 2024

FOR

OAKWOOD WIGHT LIMITED

OAKWOOD WIGHT LIMITED (REGISTERED NUMBER: 04080775)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 3 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


OAKWOOD WIGHT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 3 MARCH 2024







DIRECTORS: Mrs R E Massey
R Massey





SECRETARY: Mrs R E Massey





REGISTERED OFFICE: 42 Yarborough Road
East Cowes
Isle of Wight
PO32 6SH





REGISTERED NUMBER: 04080775 (England and Wales)





ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

OAKWOOD WIGHT LIMITED (REGISTERED NUMBER: 04080775)

BALANCE SHEET
3 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 280,000 343,000
TOTAL ASSETS LESS CURRENT LIABILITIES 280,000 343,000

PROVISIONS FOR LIABILITIES 20,527 32,497
NET ASSETS 259,473 310,503

CAPITAL AND RESERVES
Called up share capital 107,901 107,901
Retained earnings 151,572 202,602
SHAREHOLDERS' FUNDS 259,473 310,503

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 3 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 3 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by:




R Massey - Director



Mrs R E Massey - Director


OAKWOOD WIGHT LIMITED (REGISTERED NUMBER: 04080775)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 3 MARCH 2024


1. STATUTORY INFORMATION

Oakwood Wight Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

OAKWOOD WIGHT LIMITED (REGISTERED NUMBER: 04080775)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 3 MARCH 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 4 March 2023 343,000
Revaluations (63,000 )
At 3 March 2024 280,000
NET BOOK VALUE
At 3 March 2024 280,000
At 3 March 2023 343,000

Fair value at 3 March 2024 is represented by:
£   
Valuation in 2014 92,099
Valuation in 2017 25,000
Valuation in 2019 19,000
Valuation in 2021 56,000
Valuation in 2022 30,000
Valuation in 2023 13,000
Valuation in 2024 (63,000 )
Cost 107,901
280,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 107,901 107,901
Aggregate depreciation (31,636 ) (30,198 )

The investment property was valued on an open market basis on 3 March 2024 by the directors .