2023-05-012024-04-302024-04-30false10712247OAKLEY PROPERTIES (SOUTH WALES) 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OAKLEY PROPERTIES (SOUTH WALES) LTD

Registered Number
10712247
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

OAKLEY PROPERTIES (SOUTH WALES) LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

OAKLEY, Philip
OAKLEY, Ross

Registered Address

87 Church Road
Newport
NP19 7EH

Registered Number

10712247 (England and Wales)
OAKLEY PROPERTIES (SOUTH WALES) LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property4180,000180,000
180,000180,000
Current assets
Debtors3,5024,414
Cash at bank and on hand10,1085,719
13,61010,133
Creditors amounts falling due within one year5(50,360)(50,886)
Net current assets (liabilities)(36,750)(40,753)
Total assets less current liabilities143,250139,247
Creditors amounts falling due after one year6(58,281)(60,388)
Provisions for liabilities7(26,942)(19,774)
Net assets58,02759,085
Capital and reserves
Called up share capital100100
Revaluation reserve30,55837,726
Profit and loss account27,36921,259
Shareholders' funds58,02759,085
The financial statements were approved and authorised for issue by the Board of Directors on 24 January 2025, and are signed on its behalf by:
OAKLEY, Philip
Director
Registered Company No. 10712247
OAKLEY PROPERTIES (SOUTH WALES) LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets
4.Investment property

£
Fair value at 01 May 23180,000
At 30 April 24180,000
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,5911,477
Taxation and social security1,6101,746
Other creditors46,40346,403
Accrued liabilities and deferred income7561,260
Total50,36050,886
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts58,28160,388
Total58,28160,388
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)26,94219,774
Total26,94219,774