Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 08485155 Mr Clive Brotherwood Mr Benjamin Brotherwood Mr Samuel Brotherwood iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08485155 2023-04-30 08485155 2024-04-30 08485155 2023-05-01 2024-04-30 08485155 frs-core:CurrentFinancialInstruments 2024-04-30 08485155 frs-core:Non-currentFinancialInstruments 2024-04-30 08485155 frs-core:BetweenOneFiveYears 2024-04-30 08485155 frs-core:MotorVehicles 2024-04-30 08485155 frs-core:MotorVehicles 2023-05-01 2024-04-30 08485155 frs-core:MotorVehicles 2023-04-30 08485155 frs-core:PlantMachinery 2024-04-30 08485155 frs-core:PlantMachinery 2023-05-01 2024-04-30 08485155 frs-core:PlantMachinery 2023-04-30 08485155 frs-core:WithinOneYear 2024-04-30 08485155 frs-core:ShareCapital 2024-04-30 08485155 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 08485155 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08485155 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 08485155 frs-bus:SmallEntities 2023-05-01 2024-04-30 08485155 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08485155 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08485155 frs-bus:Director1 2023-05-01 2024-04-30 08485155 frs-bus:Director2 2023-05-01 2024-04-30 08485155 frs-bus:Director3 2023-05-01 2024-04-30 08485155 frs-countries:EnglandWales 2023-05-01 2024-04-30 08485155 2022-04-30 08485155 2023-04-30 08485155 2022-05-01 2023-04-30 08485155 frs-core:CurrentFinancialInstruments 2023-04-30 08485155 frs-core:Non-currentFinancialInstruments 2023-04-30 08485155 frs-core:BetweenOneFiveYears 2023-04-30 08485155 frs-core:WithinOneYear 2023-04-30 08485155 frs-core:ShareCapital 2023-04-30 08485155 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 08485155
Oakwood Student Accommodation Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Nigel Davies Limited
Chartered Management Accountants
The Old Bank House
17 Malpas Road
Newport
South Wales
NP20 5PA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08485155
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 99,938 42,942
Investment Properties 5 905,722 905,722
1,005,660 948,664
CURRENT ASSETS
Stocks 6 350,000 350,000
Debtors 7 549,057 513,299
Cash at bank and in hand 424,278 455,149
1,323,335 1,318,448
Creditors: Amounts Falling Due Within One Year 8 (619,527 ) (943,671 )
NET CURRENT ASSETS (LIABILITIES) 703,808 374,777
TOTAL ASSETS LESS CURRENT LIABILITIES 1,709,468 1,323,441
Creditors: Amounts Falling Due After More Than One Year 9 (598,927 ) (214,908 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (24,186 ) (10,735 )
NET ASSETS 1,086,355 1,097,798
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 1,086,255 1,097,698
SHAREHOLDERS' FUNDS 1,086,355 1,097,798
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For the year ending 30 April 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
Mr Samuel Brotherwood
Director
25/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Oakwood Student Accommodation Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08485155 . The registered office is Unit 22 Willow Road, Pen-Y-Fan Industrial Estate, Crumlin, Newport, NP11 4EG.
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 measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Plant & Machinery 20% to 25% straight line
Motor Vehicles 25% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 15)
14 15
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 May 2023 75,634 112,967 188,601
Additions 36,907 62,941 99,848
As at 30 April 2024 112,541 175,908 288,449
Depreciation
As at 1 May 2023 65,305 80,354 145,659
Provided during the period 15,856 26,996 42,852
As at 30 April 2024 81,161 107,350 188,511
Net Book Value
As at 30 April 2024 31,380 68,558 99,938
As at 1 May 2023 10,329 32,613 42,942
5. Investment Property
2024
£
Fair Value
As at 1 May 2023 and 30 April 2024 905,722
6. Stocks
2024 2023
£ £
Stock 350,000 350,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 458,378 457,891
VAT 90,679 55,408
549,057 513,299
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,791 32,881
Trade creditors 386,706 257,137
Bank loans and overdrafts 51,959 396,644
Corporation tax (8,803 ) 30,473
Other taxes and social security 137,077 27,139
Other creditors 26,797 199,397
619,527 943,671
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 98,200 8,574
Bank loans 500,727 206,334
598,927 214,908
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 25,791 32,881
Later than one year and not later than five years 98,200 8,574
123,991 41,455
123,991 41,455
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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