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Registered Number: 13718554
England and Wales

 

 

 

OAKMILL HOMES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Director George Krempels
Registered Number 13718554
Registered Office 42 High Street
Broughton
Kettering
NN14 1NG
Accountants Cypher
Monkswell
Little Baldon
Oxford
OX44 9PU
1
Report to the directors on the preparation of the unaudited statutory accounts of Oakmill Homes Limited for the year ended 30 April 2024. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oakmill Homes Limited for the year ended 30 April 2024 which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company's accounting records and from information/explanations you have given us. This report is made solely to the Board of Directors of Oakmill Homes Limited, as a body, in accordance with the terms of our engagement letter dated 15 July 2022. Our work has been undertaken solely to prepare for your approval the accounts of Oakmill Homes Limited and state those matters that we have agreed to state to the Board of Directors of Oakmill Homes Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oakmill Homes Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Oakmill Homes Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Oakmill Homes Limited. You consider that Oakmill Homes Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Oakmill Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................

Cypher

Monkswell
Little Baldon
Oxford
OX44 9PU
27 January 2025
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 24,560   
24,560   
Current assets      
Stocks 4 2,726,991    1,259,598 
Debtors 5 11,046    1,248 
Cash at bank and in hand 1,402    4,131 
2,739,439    1,264,977 
Creditors: amount falling due within one year 6 (2,954,833)   (1,307,409)
Net current assets (215,394)   (42,432)
 
Total assets less current liabilities (190,834)   (42,432)
Provisions for liabilities 7 (6,509)  
Net assets (197,343)   (42,432)
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account (197,443)   (42,532)
Shareholders' funds (197,343)   (42,432)
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 27 January 2025 and were signed by:


-------------------------------
George Krempels
Director
3
General Information
Oakmill Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 13718554, registration address 42 High Street, Broughton, Kettering, NN14 1NG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10 years Straight Line
Work in Progress
Work in progress is valued at the lower of cost and estimated fee chargeable less costs expected to be incurred to completion. Work in progress is recognised to the extent that no right to consideration exists for work at the balance sheet date. It is valued at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 May 2023  
Additions 25,969    25,969 
Disposals  
At 30 April 2024 25,969    25,969 
Depreciation
At 01 May 2023  
Charge for year 1,409    1,409 
On disposals  
At 30 April 2024 1,409    1,409 
Net book values
Closing balance as at 30 April 2024 24,560    24,560 
Opening balance as at 01 May 2023  


4.

Stocks

2024
£
  2023
£
Work in Progress 2,726,991    1,259,598 
2,726,991    1,259,598 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
VAT 11,046    1,248 
11,046    1,248 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 66,987    50,270 
Amounts Owed to Participating Interests 2,875,367    1,242,138 
Accrued Expenses 10,925   
Other Creditors 1,213    15,001 
Directors' Current Accounts 341   
2,954,833    1,307,409 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 6,509   
6,509   

8.

Share Capital

Authorised
1,000 Class A shares of £0.10 each
Allotted, called up and fully paid
2024
£
  2023
£
1,000 Class A shares of £0.10 each 100    100 
100    100 

9.

Related Parties

Kitemill Limited

Kitemill Limited owns 100% of the share capital in Oakmill Homes Limited and George Krempels is a director in both entities.

Oakmill Homes Limited owed Kitemill Limited £2,875,367 at the year ended 30 April 2024 (2023: £1,242,138), there are no specified repayment terms on this balance.

Kitemill Limited sold an item of Plant & Machinery costing £1,450 to Oakmill Homes Limited in the year ending 30 April 2024 (2023: £Nil).  

Oakbrook Partners Limited

George Krempels is a director in Oakbrook Partners Limited and Oakmill Homes Limited.

Payments totalling £146,210 were made by Oakmill Homes Limited to Oakbrook Partners Limited in the year ending 30 April 2024 (2023: £44,864). These payments related to recharges, professional and consultancy fees. 

A balance of £24,381 was owed to Oakbrook Partners Limited by Oakmill Homes Limited at the year ended 30 April 2024 (2023: £Nil). This figure is included in Aged Creditors. 


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