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OAKELEY ARMS COTTAGES LIMITED

Unaudited Financial Statements

for the Year Ended 31st March 2024






OAKELEY ARMS COTTAGES LIMITED (REGISTERED NUMBER: 10139579)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OAKELEY ARMS COTTAGES LIMITED

Company Information
for the year ended 31st March 2024







DIRECTORS: O W Vanstone
Miss T M Vanstone





REGISTERED OFFICE: Tan Y Bwlch
Maentwrog
Blaenau Ffestiniog
Gwynedd
LL41 3YU





REGISTERED NUMBER: 10139579 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

OAKELEY ARMS COTTAGES LIMITED (REGISTERED NUMBER: 10139579)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,111 11,387

CURRENT ASSETS
Debtors 5 55 430
Cash at bank 105,449 27,892
105,504 28,322
CREDITORS
Amounts falling due within one year 6 95,797 23,397
NET CURRENT ASSETS 9,707 4,925
TOTAL ASSETS LESS CURRENT LIABILITIES 18,818 16,312

CREDITORS
Amounts falling due after more than one
year

7

(5,664

)

(9,515

)

PROVISIONS FOR LIABILITIES (1,731 ) (2,163 )
NET ASSETS 11,423 4,634

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 11,223 4,434
11,423 4,634

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.

OAKELEY ARMS COTTAGES LIMITED (REGISTERED NUMBER: 10139579)

Balance Sheet - 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 25th November 2024 and were signed on its behalf by:





Miss T M Vanstone - Director


OAKELEY ARMS COTTAGES LIMITED (REGISTERED NUMBER: 10139579)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

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

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

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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

OAKELEY ARMS COTTAGES LIMITED (REGISTERED NUMBER: 10139579)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transition price, less any impairment. Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to/from related parties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st April 2023
and 31st March 2024 7,370 1,574 15,250 24,194
DEPRECIATION
At 1st April 2023 2,653 1,150 9,004 12,807
Charge for year 943 84 1,249 2,276
At 31st March 2024 3,596 1,234 10,253 15,083
NET BOOK VALUE
At 31st March 2024 3,774 340 4,997 9,111
At 31st March 2023 4,717 424 6,246 11,387

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 375
Other debtors 55 55
55 430

OAKELEY ARMS COTTAGES LIMITED (REGISTERED NUMBER: 10139579)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,250 4,250
Taxation and social security 4,293 -
Other creditors 87,254 19,147
95,797 23,397

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,664 9,515

8. RELATED PARTY DISCLOSURES

Included in other creditors is the sum of £68,696 (2023 - £17,143) owed from Oakeley Arms Hotel Limited, a company in which Mr C and Mrs A M Vanstone, former directors and shareholders of the company, are also directors and shareholders.

Included in creditors is the sum of £481 (2023 - £nil) and £481 (2023 - £nil) owing to O W Vanstone and Miss T M Vanstone, company directors and shareholders.