REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24 MARCH 2024 |
FOR |
OAKLEY COURT (RINGWOOD) FREEHOLD LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24 MARCH 2024 |
FOR |
OAKLEY COURT (RINGWOOD) FREEHOLD LIMITED |
OAKLEY COURT (RINGWOOD) FREEHOLD LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 24 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 Durrant Road |
Bournemouth |
Dorset |
BH2 6NE |
OAKLEY COURT (RINGWOOD) FREEHOLD LIMITED (REGISTERED |
BALANCE SHEET |
24 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Freehold reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
OAKLEY COURT (RINGWOOD) FREEHOLD LIMITED (REGISTERED |
BALANCE SHEET - continued |
24 MARCH 2024 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
OAKLEY COURT (RINGWOOD) FREEHOLD LIMITED (REGISTERED |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24 MARCH 2024 |
1. | STATUTORY INFORMATION |
Oakley Court (Ringwood) Freehold Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover for the year represents rents and ground rents received. |
Tangible fixed assets |
All fixed assets are initially recorded at cost |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 25 March 2023 |
and 24 March 2024 |
NET BOOK VALUE |
At 24 March 2024 |
At 24 March 2023 |
OAKLEY COURT (RINGWOOD) FREEHOLD LIMITED (REGISTERED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 24 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
The freehold property has been written down to £1 in respect of the 29 flats (out of 34) that have participated in the original freehold purchase or been granted a lease extension. The value in respect of those flats is in the leasehold interest rather than the original cost to the company of acquiring the freehold. |
The corresponding freehold reserve has also been reduced to £1. |
A further 2 flats have participated and have been granted a lease extensions. |
The value remaining is equivalent to the cost of the 3 remaining non participators. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Due to service charge account | 28,087 | - |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Corporation tax |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Members loans for freehold |
purchase |
The members made loans to the company to cover the share of the 6 flats who did not participate in the freehold purchase. These loans are interest free and have no set terms for repayment. |
OAKLEY COURT (RINGWOOD) FREEHOLD LIMITED (REGISTERED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 24 MARCH 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 29 | 29 |
9. | RESERVES |
Retained | Freehold |
earnings | reserve | Totals |
£ | £ | £ |
At 25 March 2023 | 35,726 |
Profit for the year | - |
Dividends | ( |
) | - | ( |
) |
At 24 March 2024 | 27,294 |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
OAKLEY COURT (RINGWOOD) FREEHOLD LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oakley Court (Ringwood) Freehold Limited for the year ended 24 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Oakley Court (Ringwood) Freehold Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oakley Court (Ringwood) Freehold Limited and state those matters that we have agreed to state to the Board of Directors of Oakley Court (Ringwood) Freehold Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oakley Court (Ringwood) Freehold Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Oakley Court (Ringwood) Freehold Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oakley Court (Ringwood) Freehold Limited. You consider that Oakley Court (Ringwood) Freehold 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 financial statements of Oakley Court (Ringwood) Freehold 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 financial statements. |
Chartered Accountants |
3 Durrant Road |
Bournemouth |
Dorset |
BH2 6NE |