Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 11854619 Mrs Jane Perkins Mrs Jane Perkins true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11854619 2023-03-31 11854619 2024-03-31 11854619 2023-04-01 2024-03-31 11854619 frs-core:CurrentFinancialInstruments 2024-03-31 11854619 frs-core:Non-currentFinancialInstruments 2024-03-31 11854619 frs-core:PlantMachinery 2024-03-31 11854619 frs-core:PlantMachinery 2023-04-01 2024-03-31 11854619 frs-core:PlantMachinery 2023-03-31 11854619 frs-core:ShareCapital 2024-03-31 11854619 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11854619 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11854619 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11854619 frs-bus:SmallEntities 2023-04-01 2024-03-31 11854619 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11854619 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11854619 1 2023-04-01 2024-03-31 11854619 frs-bus:Director1 2023-04-01 2024-03-31 11854619 frs-countries:EnglandWales 2023-04-01 2024-03-31 11854619 2022-03-31 11854619 2023-03-31 11854619 2022-04-01 2023-03-31 11854619 frs-core:CurrentFinancialInstruments 2023-03-31 11854619 frs-core:Non-currentFinancialInstruments 2023-03-31 11854619 frs-core:ShareCapital 2023-03-31 11854619 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 11854619
Oakmills Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11854619
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,416 3,020
Investment Properties 5 145,000 145,000
147,416 148,020
CURRENT ASSETS
Stocks 6 74,424 -
Debtors 7 150,000 -
Cash at bank and in hand 791 6,865
225,215 6,865
Creditors: Amounts Falling Due Within One Year 8 (315,155 ) (152,779 )
NET CURRENT ASSETS (LIABILITIES) (89,940 ) (145,914 )
TOTAL ASSETS LESS CURRENT LIABILITIES 57,476 2,106
Creditors: Amounts Falling Due After More Than One Year 9 (47,000 ) -
NET ASSETS 10,476 2,106
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 10,475 2,105
SHAREHOLDERS' FUNDS 10,476 2,106
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Jane Perkins
Director
25/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Oakmills Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11854619 . The registered office is 45 Mill Lane, Woodhall Spa, Lincs, LN10 6QZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 3,775
As at 31 March 2024 3,775
Depreciation
As at 1 April 2023 755
Provided during the period 604
As at 31 March 2024 1,359
Net Book Value
As at 31 March 2024 2,416
As at 1 April 2023 3,020
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 145,000
The director has considered the valuation of the investment property at 31 March 2024 and considers that there is no change from value on purchase (2023 £145,000).
6. Stocks
2024 2023
£ £
Stock 74,424 -
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7. Debtors
2024 2023
£ £
Due within one year
Due after more than one year
Loan 150,000 -
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 5,996 1,131
Accruals and deferred income 1,150 776
Director's loan account 308,009 150,872
315,155 152,779
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to related parties 47,000 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mrs Jane Perkins 9,127 2,000
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 9,127 2,000
13. Post Balance Sheet Events
Since the balance sheet date of 31 March 2024, land held in Stock at £74,423.90 (2023 £Nil) has been developed and is being marketed for £400,000 (2023 £Nil) at the date of signing these financial statements.
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14. Related Party Transactions
During the year to 31 March 2024, Oakmills Properties Limited received £11,520 (2023 £7,340) in respect of rent from a close family member of Mrs Jane Perkins who is sole director and shareholder of the company.
During the year to 31 March 2024, the company received a loan of £55,000 (2023 £Nil) from close family members of Mrs Jane Perkins.
During the year to 31 March 2024, Oakmills Properties Limited loaned £150,000 (2023 £Nil) to a company controlled by a close family member of Mrs Jane Perkins. Interest of £15,000 (2023 £Nil) on this loan was received by Oakmills Properties Limited in the year to 31 March 2024.The loan is repayable on demand and Mrs Jane Perkins does not hold a controlling interest in the debtor company.
15. Ultimate Controlling Party
The company's ultimate controlling party is Mrs Jane Perkins by virtue of her ownership of 100% of the issued share capital in the company.
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