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REGISTERED NUMBER: 03357509 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

OAKFOREST PROPERTIES LIMITED

OAKFOREST PROPERTIES LIMITED (REGISTERED NUMBER: 03357509)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OAKFOREST PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr J Paschali
Mr G Georgiou





SECRETARY: Mr J Paschali





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 03357509 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

OAKFOREST PROPERTIES LIMITED (REGISTERED NUMBER: 03357509)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,077 12,102
Investment property 5 2,365,782 2,365,782
2,374,859 2,377,884

CURRENT ASSETS
Debtors 6 5,221,980 5,167,360
Cash at bank and in hand 120,058 242,027
5,342,038 5,409,387
CREDITORS
Amounts falling due within one year 7 1,296,756 1,318,637
NET CURRENT ASSETS 4,045,282 4,090,750
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,420,141

6,468,634

CREDITORS
Amounts falling due after more than one
year

8

(1,082,601

)

(1,102,719

)

PROVISIONS FOR LIABILITIES (476,125 ) (476,125 )
NET ASSETS 4,861,415 4,889,790

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Fair value reserve 12 549,100 549,100
Retained earnings 4,311,315 4,339,690
SHAREHOLDERS' FUNDS 4,861,415 4,889,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OAKFOREST PROPERTIES LIMITED (REGISTERED NUMBER: 03357509)

BALANCE SHEET - continued
30 APRIL 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





Mr J Paschali - Director


OAKFOREST PROPERTIES LIMITED (REGISTERED NUMBER: 03357509)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Oakforest Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred. This is stated after trade discounts, other sales taxes and net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

OAKFOREST PROPERTIES LIMITED (REGISTERED NUMBER: 03357509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 234,079 18,031 1,150 253,260
DEPRECIATION
At 1 May 2023 222,522 17,850 786 241,158
Charge for year 2,889 45 91 3,025
At 30 April 2024 225,411 17,895 877 244,183
NET BOOK VALUE
At 30 April 2024 8,668 136 273 9,077
At 30 April 2023 11,557 181 364 12,102

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 2,365,782
NET BOOK VALUE
At 30 April 2024 2,365,782
At 30 April 2023 2,365,782

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2017 1,025,226
Cost 1,340,556
2,365,782

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 32,867 -
Amounts due by related parties 5,063,159 5,038,799
Other debtors 112,500 112,500
Prepayments 13,454 16,061
5,221,980 5,167,360

OAKFOREST PROPERTIES LIMITED (REGISTERED NUMBER: 03357509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts (see note 9) 42,677 65,235
Trade creditors 6,569 9,774
Tax 288,152 286,556
Social security and other taxes 2,284 2,583
VAT 1,989 231
Amounts due to related parties 949,756 949,258
Directors' current accounts 329 -
Accrued expenses 5,000 5,000
1,296,756 1,318,637

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans (see note 9) 1,082,601 1,102,719

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 911,894 841,779

9. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 year 42,677 65,235

Amounts falling due between one and two years:
Bank loans - 1-2 years 42,677 65,235

Amounts falling due between two and five years:
Bank loans - 2-5 years 128,030 195,705

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 911,894 841,779

OAKFOREST PROPERTIES LIMITED (REGISTERED NUMBER: 03357509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 1,125,278 1,167,954

The bank loans are secured by a fixed and floating charge over all of the company's assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1,000 Ordinary shares 1 1,000 1,000

12. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 549,100