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REGISTERED NUMBER: 09590378 (England and Wales)

























Unaudited Financial Statements for the Year Ended 31 May 2024

for

Little Oak Properties Ltd

Little Oak Properties Ltd (Registered number: 09590378)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Little Oak Properties Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: M Aujla
Ms A M Aujla
M Aujla
Miss M Aujla





REGISTERED OFFICE: United House Watkin Lane
Lostock Hall
Preston
Lancashire
PR5 5HD





REGISTERED NUMBER: 09590378 (England and Wales)





ACCOUNTANTS: IN Accountancy Limited
2 Station View
Bramhall Moor Lane
Hazel Grove
Stockport
Cheshire
SK7 5ER

Little Oak Properties Ltd (Registered number: 09590378)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,722 14,151
Investment property 5 2,323,111 2,323,111
2,332,833 2,337,262

CURRENT ASSETS
Debtors 6 10,316 5,941
Cash at bank 3,434 38,470
13,750 44,411
CREDITORS
Amounts falling due within one year 7 690,799 649,135
NET CURRENT LIABILITIES (677,049 ) (604,724 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,655,784 1,732,538

CREDITORS
Amounts falling due after more than one year 8 1,082,643 1,185,218
NET ASSETS 573,141 547,320

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 573,137 547,316
SHAREHOLDERS' FUNDS 573,141 547,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Little Oak Properties Ltd (Registered number: 09590378)

Balance Sheet - continued
31 May 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 10 December 2024 and were signed on its behalf by:





M Aujla - Director


Little Oak Properties Ltd (Registered number: 09590378)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Little Oak Properties Ltd 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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2023 - 4 ) .

Little Oak Properties Ltd (Registered number: 09590378)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 18,580
DEPRECIATION
At 1 June 2023 4,429
Charge for year 4,429
At 31 May 2024 8,858
NET BOOK VALUE
At 31 May 2024 9,722
At 31 May 2023 14,151

The net book value of assets includes £8,750 (2023: £13,125) in respect of assets held under hire purchase agreements.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 2,323,111
NET BOOK VALUE
At 31 May 2024 2,323,111
At 31 May 2023 2,323,111

The fair value of the investment property has been arrived at on the basis of a valuation carried out at the time of purchasing each of the properties. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties. The directors feel that the property values at the balance sheet date are similar to those on the open market.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 5,279 5,705
Other debtors 5,037 236
10,316 5,941

Little Oak Properties Ltd (Registered number: 09590378)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 89,120 74,999
Hire purchase contracts 5,959 5,887
Trade creditors 28,230 33,458
Amounts owed to group undertakings 49,513 50,000
Taxation and social security 38,815 27,521
Other creditors 479,162 457,270
690,799 649,135

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 1,082,643 1,179,259
Hire purchase contracts - 5,959
1,082,643 1,185,218

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 726,165 863,259

The bank loans and overdrafts are secured via various legal charges per Companies House, in favour of Handelsbanken over the properties included within the investment properties per note 5. There are specific covenants attached to these loans.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the directors, Mr M Aujla and Mrs A Aujla introduced £4,393 (2023: £61,958) into the company and withdrew £nil (2023: £6,047). At 31 May 2024, the company owes the directors £458,662 (2023: £454,269).

There are no repayment terms: no interest was charged on the balance owed during the year.

10. RELATED PARTY DISCLOSURES

During the year, the company operated a loan account with director related company, Chestnut Property Development Company (Preston) Limited. During the year, Little Oak Properties received £27,000 (2023:£50,000) from Chestnut Property Development Company (Preston) Limited and repaid £33,987 (2023: £63). At the balance sheet date, the company owes Chestnut Property Development Company (Preston) Limited £43,013 (2023: £50,000).

During the year, the company operated a loan account with director related company, AMS Cladding Ltd . During the year, Little Oak Properties received £30,000 (2023:£nil) from AMS Cladding Ltd and repaid £23,500 (2023: £nil). At the balance sheet date, the company owes AMS Cladding Ltd £6,500 (2023: £50,000).

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors by virtue of their day to day running of the business.