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REGISTERED NUMBER: 05087216 (England and Wales)
















Oak Developments (Lakes Road) Limited

Unaudited Financial Statements

for the Year Ended 31st March 2024






Oak Developments (Lakes Road) Limited (Registered number: 05087216)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Oak Developments (Lakes Road) Limited

Company Information
for the Year Ended 31st March 2024







Directors: Mr R R Jewitt
Mrs J A Jewitt





Registered office: 4 The Oak
Chapel Hill
Braintree
Essex
CM7 3QT





Registered number: 05087216 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

Oak Developments (Lakes Road) Limited (Registered number: 05087216)

Statement of Financial Position
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 18,876 24,820
Investment property 5 345,000 345,000
363,876 369,820

Current assets
Debtors 6 516,845 585,615
Cash at bank 42,133 147,004
558,978 732,619
Creditors
Amounts falling due within one year 7 257,645 360,210
Net current assets 301,333 372,409
Total assets less current liabilities 665,209 742,229

Creditors
Amounts falling due after more than one
year

8

(26,177

)

(49,975

)

Provisions for liabilities (41,651 ) (43,137 )
Net assets 597,381 649,117

Capital and reserves
Called up share capital 2 2
Revaluation reserve 159,568 159,568
Retained earnings 437,811 489,547
597,381 649,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

Oak Developments (Lakes Road) Limited (Registered number: 05087216)

Statement of Financial Position - continued
31st March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th November 2024 and were signed on its behalf by:





Mrs J A Jewitt - Director


Oak Developments (Lakes Road) Limited (Registered number: 05087216)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. Statutory information

Oak Developments (Lakes Road) 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.

Turnover
Turnover represents the amounts derived from the sale of properties and the rental income from investment properties during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% reducing balance
Motor vehicles - 25% reducing balance

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2023 - 2 ) .

Oak Developments (Lakes Road) Limited (Registered number: 05087216)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1st April 2023 4,710 29,475 34,185
Additions 193 - 193
At 31st March 2024 4,903 29,475 34,378
Depreciation
At 1st April 2023 2,563 6,802 9,365
Charge for year 468 5,669 6,137
At 31st March 2024 3,031 12,471 15,502
Net book value
At 31st March 2024 1,872 17,004 18,876
At 31st March 2023 2,147 22,673 24,820

5. Investment property
Total
£   
Fair value
At 1st April 2023
and 31st March 2024 345,000
Net book value
At 31st March 2024 345,000
At 31st March 2023 345,000

The investment property was valued on an open market basis on 31st March 2023 by the directors.

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 516,845 585,615

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 22,087 22,087
Hire purchase contracts - 2,935
Trade creditors 7,093 11,028
Taxation and social security 25,920 84,451
Other creditors 202,545 239,709
257,645 360,210

Oak Developments (Lakes Road) Limited (Registered number: 05087216)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 26,177 48,263
Hire purchase contracts - 1,712
26,177 49,975