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Registered number: 13448324









OAKWOOD MEWS LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
OAKWOOD MEWS LIMITED
REGISTERED NUMBER: 13448324

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
774,414
699,564

Debtors: amounts falling due within one year
 5 
614
3,274

Cash at bank and in hand
 6 
-
896

  
775,028
703,734

Creditors: amounts falling due within one year
 7 
(782,322)
(708,964)

Net current liabilities
  
 
 
(7,294)
 
 
(5,230)

  

Net liabilities
  
(7,294)
(5,230)


Capital and reserves
  

Called up share capital 
  
90
90

Profit and loss account
  
(7,384)
(5,320)

  
(7,294)
(5,230)


Page 1

 
OAKWOOD MEWS LIMITED
REGISTERED NUMBER: 13448324
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 January 2025.






J Quinn
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
OAKWOOD MEWS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Oakwood Mews Limited is a company limited by shares, incorporated in England, United Kingdom. The address of the registered office is Suite D, The Business Centre, Faringdon Avenue, Romford, Essex, RM3 8EN. The principal activity of the company is that of development of building projects. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value.

The company has undertaken a full review of the value of all its land stock and development projects after
considering the current market conditions.

Page 3

 
OAKWOOD MEWS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 -  4).


4.


Stocks

2024
2023
£
£

Work in progress
774,414
699,564


Page 4

 
OAKWOOD MEWS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
-
60

Other debtors
614
3,148

Prepayments and accrued income
-
66

614
3,274



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
-
896

Less: bank overdrafts
(48)
-



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
48
-

Trade creditors
2,842
561

Amounts owed to group undertakings
496,333
-

Other creditors
256,749
706,753

Accruals and deferred income
26,350
1,650

782,322
708,964



8.


Related party transactions


2024
2023
£
£

Amounts owed to group undertakings
496,333
-
Amounts owed to connected companies
256,749
656,753
Amounts owed by group undertakings
-
60

Amounts owed to connected companies and group undertakings are repayable on demand and interest free. 

Page 5

 
OAKWOOD MEWS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Controlling party

The controlling party of the company is Quinn Residential Holdings Limited. 

 
Page 6