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Registered Number: 13024083
England and Wales

 

 

 

OASIS DEVELOPERS HASTINGS LTD


Unaudited micro entity accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Directors Venkat PABBATHI
Shankar DEVARASHETTY
Registered Number 13024083
Registered Office Office Gold, Building 3 Chiswick Park
566 Chiswick High Road
London
W4 5YA
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Director's report and financial statements
The directors present his/her/their report and accounts for the year ended 31 March 2024.
Principal activities
Principal activity of the company during the financial year was of development of building projects
Directors
The directors who served the company throughout the year were as follows:
Venkat PABBATHI
Shankar DEVARASHETTY
Statement of directors' responsibilities
The directors are responsible for preparing the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 105 and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
  • select suitable accounting policies and then apply them consistently
  • make judgements and estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board and signed on its behalf by:


----------------------------------
Shankar DEVARASHETTY
Director

Date approved: 27 December 2024
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  2024   2023
    £ £   £ £
Fixed assets   727,477      641,763 
Current assets 32,571      42,075   
Creditors: amount falling due within one year (270,225)     (173,868)  
Net current assets   (237,654)     (131,793)
Total assets less current liabilities   489,823      509,970 
Creditors: amount falling due after more than one year   (585,625)     (585,000)
Net assets   (95,802)     (75,030)
 

         
Capital and reserves   (95,802)     (75,030)
 
NOTES TO THE ACCOUNTS

General Information
OASIS DEVELOPERS HASTINGS LTD is a private company, limited by shares, registered in England and Wales, registration number 13024083, registration address Office Gold, Building 3 Chiswick Park, 566 Chiswick High Road, London, W4 5YA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).

3.

Events after Balance sheet date

Share Holding

On 06 November 2024, subsequent to the financial year ended 31 March 2024, Oasis Developers Ltd acquired 100% of the equity shares in Oasis Developers Hastings Ltd, making it a wholly-owned subsidiary.
 
This acquisition is a non-adjusting post balance sheet event and has been disclosed in accordance with FRS 105 - Events After the End of the Reporting Period. The investment will be accounted for at cost in the financial statements of Oasis Developers Ltd for the year ending 31 March 2025, as the company prepares separate accounts and does not consolidate its subsidiaries.
 
This disclosure is made to provide transparency regarding the companys strategic decisions post year-end.
4.

Control

The controlling interest is held by below members who are the directors and shareholder of the company.

Venkat PABBATHI
Shankar DEVARASHETTY
5.

Shareholder Composition

The shareholders of Oasis Developers Ltd and Oasis Developers Hastings Ltd remain identical before and after the corporate transaction.

100% ownership continuity is maintained.


No change in ultimate beneficial ownership has occurred

For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 December 2024 and were signed on its behalf by:


--------------------------------
Shankar DEVARASHETTY
Director
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