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REGISTERED NUMBER: 13921998 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

193 OLDFIELD LANE LIMITED

193 OLDFIELD LANE LIMITED (REGISTERED NUMBER: 13921998)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


193 OLDFIELD LANE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr D Breen
Mrs C Breen





REGISTERED OFFICE: 91 Welbeck Road
Barnet
Middlesex
EN4 8RY





REGISTERED NUMBER: 13921998 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY

193 OLDFIELD LANE LIMITED (REGISTERED NUMBER: 13921998)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
CURRENT ASSETS
Stocks 4 1,358,375 670,285
Debtors 5 25,260 100
Cash at bank and in hand 33,540 -
1,417,175 670,385
CREDITORS
Amounts falling due within one year 6 1,176,590 671,785
NET CURRENT ASSETS/(LIABILITIES) 240,585 (1,400 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

240,585

(1,400

)

CREDITORS
Amounts falling due after more than one year 7 275,000 -
NET LIABILITIES (34,415 ) (1,400 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (34,515 ) (1,500 )
SHAREHOLDERS' FUNDS (34,415 ) (1,400 )

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.

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 29 November 2024 and were signed on its behalf by:





Mr D Breen - Director


193 OLDFIELD LANE LIMITED (REGISTERED NUMBER: 13921998)

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

1. STATUTORY INFORMATION

193 Oldfield Lane 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.

Going Concern
The financial statements have been prepared on a going concern basis not withstanding the company's net current liabilities position as at the year end. The directors and the parent company have provided this company with an undertaking that they will continue to support financially for the foreseeable future and that they will not seek repayment of the amounts currently owing to them in the twelve months from the date of signing the financial statements.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial assets and financial liabilities are recognised in the Company’s balance sheet when the Company becomes a party to the contractual provisions of the instrument.

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.

Loans and borrowings
Loans and borrowings are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

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

4. STOCKS
29.2.24 28.2.23
£    £   
Stock 1,358,375 670,285

193 OLDFIELD LANE LIMITED (REGISTERED NUMBER: 13921998)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 25,260 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 77,891 -
Amounts owed to group undertaking 595,567 169,285
Other creditors 503,132 502,500
1,176,590 671,785

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Other creditors 275,000 -

8. RELATED PARTY DISCLOSURES

As at the balance sheet date, the company owed £501,000 (2023: £501,000) to the directors. There are no specific terms of repayment.

Included in creditors is £595,567 (2023: £169,285), an amount owed to Bayview Homes Southern Limited, the parent company. The amount payable is interest free and repayable on demand.