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Registration number: 11318792

Oak Property Trading Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Oak Property Trading Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Oak Property Trading Limited

(Registration number: 11318792)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1

1

Current assets

 

Stocks

5

580,898

325,964

Debtors

6

7,850

910,349

Cash at bank and in hand

 

494

840

 

589,242

1,237,153

Creditors: Amounts falling due within one year

7

(1,348,495)

(1,674,316)

Net current liabilities

 

(759,253)

(437,163)

Total assets less current liabilities

 

(759,252)

(437,162)

Creditors: Amounts falling due after more than one year

7

(32,077)

(36,768)

Net liabilities

 

(791,329)

(473,930)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(791,429)

(474,030)

Shareholders' deficit

 

(791,329)

(473,930)

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

 

Oak Property Trading Limited

(Registration number: 11318792)
Balance Sheet as at 30 April 2024

.........................................
Mr S T Crane
Director

.........................................
Mrs L J Crane
Director

 
     
 

Oak Property Trading Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 - 13 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ
United Kingdom

These financial statements were authorised for issue by the Board on 30 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Revenue from the sale of residential and commercial property is recognised when the contract has been completed.

 

Oak Property Trading Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Oak Property Trading Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 May 2023

1

Provision

Carrying amount

At 30 April 2024

1

At 30 April 2023

1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Oak Property Trading Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Oak Property Trading Residential Limited

9-13 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ

England

Ordinary

100%

100%

Subsidiary undertakings

Oak Property Trading Residential Limited

The principal activity of Oak Property Trading Residential Limited is that of the development and construction of residential properties.

 

Oak Property Trading Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

5

Stocks

2024
£

2023
£

Work in progress

580,898

325,964

6

Debtors

2024
£

2023
£

Other debtors

7,324

907,175

Prepayments

526

3,174

7,850

910,349

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

11,313

11,313

Amounts owed to related parties

9

1,883

-

Other creditors

 

1,311,359

1,565,000

Accrued expenses

 

23,940

98,003

 

1,348,495

1,674,316


There were two charges registered on 14 August 2023 and 19 October 2023 by Financial Funding Limited and Boman Trading Limited, on the freehold property known as apartments L01, L02, L03, L04, L05 and L06 Oak Court, Dudley Road, Brierley Hill, West Midlands, DY5 1LG. The charge is on behalf of Ferens Property Trading Limited who is an assocated company.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

32,077

36,768

 

Oak Property Trading Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

11,313

11,313

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

32,077

36,768

9

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

Mr S T Crane

Directors loan account - Mr S T Crane and Mrs L Crane

(38,661)

40,544

1,883

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr S T Crane

Directors loan account - Mr S T Crane and Mrs L Crane

(55,000)

(60,544)

76,883

(38,661)