Acorah Software Products - Accounts Production 16.1.200 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 7242460 P Sheehan E Sheehan M P Sheehan E Sheehan P Sheehan true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 7242460 2023-05-31 7242460 2024-05-31 7242460 2023-06-01 2024-05-31 7242460 frs-core:CurrentFinancialInstruments 2024-05-31 7242460 frs-core:FurnitureFittings 2024-05-31 7242460 frs-core:FurnitureFittings 2023-06-01 2024-05-31 7242460 frs-core:FurnitureFittings 2023-05-31 7242460 frs-core:MotorVehicles 2023-06-01 2024-05-31 7242460 frs-core:ShareCapital 2024-05-31 7242460 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 7242460 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 7242460 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 7242460 frs-bus:SmallEntities 2023-06-01 2024-05-31 7242460 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 7242460 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 7242460 1 2023-06-01 2024-05-31 7242460 frs-bus:Director1 2023-06-01 2024-05-31 7242460 frs-bus:Director2 2023-06-01 2024-05-31 7242460 frs-bus:Director3 2023-06-01 2024-05-31 7242460 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 7242460 frs-countries:EnglandWales 2023-06-01 2024-05-31 7242460 2022-05-31 7242460 2023-05-31 7242460 2022-06-01 2023-05-31 7242460 frs-core:CurrentFinancialInstruments 2023-05-31 7242460 frs-core:ShareCapital 2023-05-31 7242460 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 7242460
OAKLEY HOMES LTD
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 7242460
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,806 3,118
2,806 3,118
CURRENT ASSETS
Stocks 5 1,739,017 1,703,129
Debtors 6 34,141 9,249
Cash at bank and in hand 9,272 68,353
1,782,430 1,780,731
Creditors: Amounts Falling Due Within One Year 7 (2,275,723 ) (1,802,498 )
NET CURRENT ASSETS (LIABILITIES) (493,293 ) (21,767 )
TOTAL ASSETS LESS CURRENT LIABILITIES (490,487 ) (18,649 )
NET LIABILITIES (490,487 ) (18,649 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (490,587 ) (18,749 )
SHAREHOLDERS' FUNDS (490,487) (18,649)
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
P Sheehan
Director
8 January 2025
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
OAKLEY HOMES LTD Registered number 7242460 is a limited by shares company incorporated in England & Wales. The Registered Office is Regency House, 61 Walton Street, Walton on the Hill, Tadworth, KT20 7RZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 June 2023 3,850
As at 31 May 2024 3,850
Depreciation
As at 1 June 2023 732
Provided during the period 312
As at 31 May 2024 1,044
Net Book Value
As at 31 May 2024 2,806
As at 1 June 2023 3,118
5. Stocks
2024 2023
£ £
Stock 1,739,017 1,703,129
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 21,122 5,930
Other debtors 13,019 3,319
34,141 9,249
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 700,000
Other creditors 2,275,723 1,102,498
2,275,723 1,802,498
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Ultimate Controlling Party
The company's ultimate controlling party is P Sheehan by virtue of his ownership of 100% of the issued share capital in the company.
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