4 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 2041020 2024-01-01 2024-12-31 2041020 2024-12-31 2041020 2023-12-31 2041020 2023-01-01 2023-12-31 2041020 2023-12-31 2041020 2022-12-31 2041020 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 2041020 core:PlantMachinery 2024-01-01 2024-12-31 2041020 bus:Director1 2024-01-01 2024-12-31 2041020 core:LandBuildings 2023-12-31 2041020 core:PlantMachinery 2023-12-31 2041020 core:LandBuildings 2024-12-31 2041020 core:PlantMachinery 2024-12-31 2041020 core:LandBuildings 2024-01-01 2024-12-31 2041020 core:WithinOneYear 2024-12-31 2041020 core:WithinOneYear 2023-12-31 2041020 core:AfterOneYear 2024-12-31 2041020 core:AfterOneYear 2023-12-31 2041020 core:ShareCapital 2024-12-31 2041020 core:ShareCapital 2023-12-31 2041020 core:SharePremium 2024-12-31 2041020 core:SharePremium 2023-12-31 2041020 core:RevaluationReserve 2024-12-31 2041020 core:RevaluationReserve 2023-12-31 2041020 core:RetainedEarningsAccumulatedLosses 2024-12-31 2041020 core:RetainedEarningsAccumulatedLosses 2023-12-31 2041020 core:LandBuildings 2023-12-31 2041020 core:PlantMachinery 2023-12-31 2041020 bus:Director1 2023-12-31 2041020 bus:Director1 2022-12-31 2041020 bus:SmallEntities 2024-01-01 2024-12-31 2041020 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 2041020 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 2041020 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 2041020 bus:FullAccounts 2024-01-01 2024-12-31 2041020 core:Buildings 2024-01-01 2024-12-31 2041020 core:Buildings 2023-12-31 2041020 core:Buildings 2024-12-31
COMPANY REGISTRATION NUMBER: 2041020
Oakleaf Conservatories Limited
Filleted Unaudited Financial Statements
31 December 2024
Oakleaf Conservatories Limited
Balance Sheet
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
526,098
550,533
Current assets
Stocks
27,046
27,046
Debtors
6
3,770
3,357
Cash at bank and in hand
5,679
7,092
--------
--------
36,495
37,495
Creditors: amounts falling due within one year
7
( 2,669,018)
( 2,488,652)
------------
------------
Net current liabilities
( 2,632,523)
( 2,451,157)
------------
------------
Total assets less current liabilities
( 2,106,425)
( 1,900,624)
Creditors: amounts falling due after more than one year
8
( 472,424)
( 472,424)
------------
------------
Net liabilities
( 2,578,849)
( 2,373,048)
------------
------------
Capital and reserves
Called up share capital
200
200
Share premium account
214,963
214,963
Revaluation reserve
392,538
412,708
Profit and loss account
( 3,186,550)
( 3,000,919)
------------
------------
Shareholders deficit
( 2,578,849)
( 2,373,048)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Oakleaf Conservatories Limited
Balance Sheet (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 24 February 2025 , and are signed on behalf of the board by:
R E Magner
Director
Company registration number: 2041020
Oakleaf Conservatories Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kettlestring Lane, Clifton Moor, YORK, YO30 4XF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
3% straight line
Plant and Machinery
-
6% straight line
Equipment
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and related parties.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Land and buildings
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 1 January 2024
700,000
278,998
50,000
1,028,998
Additions
943
943
---------
---------
--------
------------
At 31 December 2024
700,000
279,941
50,000
1,029,941
---------
---------
--------
------------
Depreciation
At 1 January 2024
150,000
278,465
50,000
478,465
Charge for the year
25,000
378
25,378
---------
---------
--------
------------
At 31 December 2024
175,000
278,843
50,000
503,843
---------
---------
--------
------------
Carrying amount
At 31 December 2024
525,000
1,098
526,098
---------
---------
--------
------------
At 31 December 2023
550,000
533
550,533
---------
---------
--------
------------
Tangible assets held at valuation
The freehold property was valued as at 31 December 2017 at open market with vacant possession existing use value by R P Atkins BSc MRICS of Messrs Lawrence Hannah Limited, York. The depreciable amount of freehold property is £525,000 (2023: £525,000).
6. Debtors
2024
2023
£
£
Other debtors
3,770
3,357
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
340
105
Other creditors
2,668,678
2,488,547
------------
------------
2,669,018
2,488,652
------------
------------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
472,424
472,424
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
R E Magner
( 472,424)
( 472,424)
---------
---------
10. Related party transactions
Shamrock Investment Management Company LLC, a company incorporated in the USA, is a related party. At the year end £2,667,017 (2023: £2,486,698) was due to Shamrock Investment Management Company LLC, including a loan of £2,474,987 (2023: £2,294,667) repayable on demand of which £1,675,448 (2023: £1,576,348) is bearing interest at 5% per annum. Interest payable for the year on this loan amounted to £81,220 (2023: £75,781) and is included in the total balance. Included in other creditors is an amount of £472,424 (2023: £472,424). This is a loan from R E Magner . The loan is classified as falling due after more than one year but has no fixed repayment terms, is unsecured and carries no interest.