Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31252023-04-01falseThe principal activity of the company continued to be that of licensed restaurants.25truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13289133 2023-04-01 2024-03-31 13289133 2022-04-01 2023-03-31 13289133 2024-03-31 13289133 2023-03-31 13289133 c:Director1 2023-04-01 2024-03-31 13289133 d:FurnitureFittings 2023-04-01 2024-03-31 13289133 d:FurnitureFittings 2024-03-31 13289133 d:FurnitureFittings 2023-03-31 13289133 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 13289133 d:CurrentFinancialInstruments 2024-03-31 13289133 d:CurrentFinancialInstruments 2023-03-31 13289133 d:Non-currentFinancialInstruments 2024-03-31 13289133 d:Non-currentFinancialInstruments 2023-03-31 13289133 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13289133 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13289133 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 13289133 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13289133 d:ShareCapital 2024-03-31 13289133 d:ShareCapital 2023-03-31 13289133 d:RetainedEarningsAccumulatedLosses 2024-03-31 13289133 d:RetainedEarningsAccumulatedLosses 2023-03-31 13289133 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 13289133 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 13289133 d:RetirementBenefitObligationsDeferredTax 2024-03-31 13289133 d:RetirementBenefitObligationsDeferredTax 2023-03-31 13289133 c:OrdinaryShareClass1 2023-04-01 2024-03-31 13289133 c:OrdinaryShareClass1 2024-03-31 13289133 c:OrdinaryShareClass1 2023-03-31 13289133 c:FRS102 2023-04-01 2024-03-31 13289133 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13289133 c:FullAccounts 2023-04-01 2024-03-31 13289133 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13289133 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 13289133












OAK & POPPY LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
OAK & POPPY LIMITED
REGISTERED NUMBER:13289133

BALANCE SHEET
AS AT 31 MARCH 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,029
1,235

  
1,029
1,235

Current assets
  

Stocks
 5 
18,842
17,220

Debtors: amounts falling due within one year
 6 
418,687
399,317

Cash at bank and in hand
 7 
26,577
17,855

  
464,106
434,392

Creditors: amounts falling due within one year
 8 
(493,398)
(390,807)

Net current (liabilities)/assets
  
 
 
(29,292)
 
 
43,585

Total assets less current liabilities
  
(28,263)
44,820

Creditors: amounts falling due after more than one year
 9 
(126,102)
(194,520)

Provisions for liabilities
  

Deferred tax
 10 
-
(309)

  
 
 
-
 
 
(309)

Net liabilities
  
(154,365)
(150,009)


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
(154,465)
(150,109)

  
(154,365)
(150,009)

Page 1

 
OAK & POPPY LIMITED
REGISTERED NUMBER:13289133
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 profit and loss account 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 by: 




M H Tillman
Director

Date: 28 February 2025

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
OAK & POPPY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Oak & Poppy Limited is a private company, limited by shares, registered in England and Wales, registration number 13289133. The registered office address is 18 Bristol Gardens, London, W9 2JQ.
 
The principal activity of the company continued to be that of licensed restaurants.

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 Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

On the basis of information and enquiries that are pertinent to the company’s circumstances and which the directors believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular the directors believe that adequate cash resources will be available to cover the company’s requirements for working capital for at least twelve months from the date of signing the financial statements.

  
2.3

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Turnover of licensed restaurants is recognised when the goods have been provided.
Turnover from rooms is recognised when received.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 3

 
OAK & POPPY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

 Stocks

Stocks of food and beverages are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

 Debtors

Short-term debtors are measured at transaction price, less any impairment.

Page 4

 
OAK & POPPY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.13

 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.

 
2.14

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, trade and other creditors, loans from banks and loans with related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2023 - 25).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 April 2023
1,341



At 31 March 2024

1,341



Depreciation


At 1 April 2023
106


Charge for the year
206



At 31 March 2024

312



Net book value



At 31 March 2024
1,029



At 31 March 2023
1,235

Page 5

 
OAK & POPPY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Food and beverage stocks
18,842
17,220



6.


Debtors

As restated
2024
2023
£
£


Other debtors
395,406
358,740

Called up share capital not paid
-
100

Prepayments
23,281
40,477

418,687
399,317



7.


Cash

2024
2023
£
£

Cash at bank and in hand
26,577
17,855



8.


Creditors: amounts falling due within one year

As restated
2024
2023
£
£

Bank loans
84,676
93,633

Trade creditors
155,468
67,376

Other taxation and social security
54,184
67,536

Other creditors
175,673
101,522

Accruals
23,397
60,740

493,398
390,807


HSBC Bank PLC holds a floating and fixed charge which contain a negative pledge over the assets of the company in respect of all the amounts due from the company. The company also has a cross company guarantee with the connected entity. The director has provided the company with a personal guarantee.
Also, included in creditors due within one year is a bank loan of £84,676 (2023 - £93,633). Interest is accrued at 4% per annum over the base rate on the outstanding principal of the loan.
 
Page 6

 
OAK & POPPY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
126,102
194,520


Also, included in creditors due more than one year is a bank loan of £126,102 (2023 - £194,520). Interest is accrued at 4% per annum over the base rate on the outstanding principal of the loan.
 

10.


Deferred taxation




2024


£






At beginning of year
309


Charged to profit or loss
(309)



At end of year
-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Fixed asset timing differences
257
309

Losses and other deductions
(257)
-

-
309


11.


Share capital

2024
2023
£
£
Allotted, called up and partly paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Prior year adjustment

The rent free accrual was overstated and as such, the accruals have decreased by £20,114 and amounts due from connected entities were adjusted for by the same amount. 
This adjustment has no impact on retained earnings. 

Page 7

 
OAK & POPPY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £6,508 (2023 - £1,965). Contributions totalling £1,518 (2023 - £1,627) were payable to the fund at the balance sheet date and are included in creditors.


14.


Controlling party

The company is under the control of M H Tillman, a director and a majority shareholder of the company.
 
Page 8