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REGISTERED NUMBER: 11224051 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

OAKLANDS GUEST HOUSE LIMITED

OAKLANDS GUEST HOUSE LIMITED (REGISTERED NUMBER: 11224051)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OAKLANDS GUEST HOUSE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Ms G S Lomax
K Bancroft





REGISTERED OFFICE: 122 Seymour Road
Bolton
Lancashire
BL1 8PU





REGISTERED NUMBER: 11224051 (England and Wales)





ACCOUNTANTS: P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ

OAKLANDS GUEST HOUSE LIMITED (REGISTERED NUMBER: 11224051)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,000 20,000
Tangible assets 5 678,624 18,423
698,624 38,423

CURRENT ASSETS
Cash at bank 2,271 3,203

CREDITORS
Amounts falling due within one year 6 344,891 50,445
NET CURRENT LIABILITIES (342,620 ) (47,242 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

356,004

(8,819

)

CREDITORS
Amounts falling due after more than one
year

7

381,742

-
NET LIABILITIES (25,738 ) (8,819 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (25,838 ) (8,919 )
(25,738 ) (8,819 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

OAKLANDS GUEST HOUSE LIMITED (REGISTERED NUMBER: 11224051)

BALANCE SHEET - continued
29 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





K Bancroft - Director


OAKLANDS GUEST HOUSE LIMITED (REGISTERED NUMBER: 11224051)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Oaklands Guest House 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

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 3 (2023 - 3 ) .

OAKLANDS GUEST HOUSE LIMITED (REGISTERED NUMBER: 11224051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 20,000
NET BOOK VALUE
At 29 February 2024 20,000
At 28 February 2023 20,000

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 March 2023 - 28,050 28,050
Additions 663,886 - 663,886
At 29 February 2024 663,886 28,050 691,936
DEPRECIATION
At 1 March 2023 - 9,627 9,627
Charge for year - 3,685 3,685
At 29 February 2024 - 13,312 13,312
NET BOOK VALUE
At 29 February 2024 663,886 14,738 678,624
At 28 February 2023 - 18,423 18,423

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other loans 14,839 21,795
Tax 568 -
Directors current account 325,884 26,970
Accrued expenses 3,600 1,680
344,891 50,445

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Other loans more 5yrs instal 381,742 -

OAKLANDS GUEST HOUSE LIMITED (REGISTERED NUMBER: 11224051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
29.2.24 28.2.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 381,742 -

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K Bancroft.