Company Registration No. 09098762 (England and Wales)
OAK INN PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
OAK INN PROPERTIES LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
166,503
166,503
Current assets
Cash at bank and in hand
6,622
8,396
Creditors: amounts falling due within one year
4
(18,853)
(18,620)
Net current liabilities
(12,231)
(10,224)
Total assets less current liabilities
154,272
156,279
Creditors: amounts falling due after more than one year
5
(66,000)
(81,000)
Net assets
88,272
75,279
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
88,172
75,179
Total equity
88,272
75,279
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 February 2025 and are signed on its behalf by:
Alison Ginn
Elizabeth Oakley
Director
Director
Company Registration No. 09098762
OAK INN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Oak Inn Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Red House, Edgerley, Kinnerley, Oswestry, Shropshire, SY10 8EL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Tangible fixed assets
The company's freehold property is held for investment purposes and is fully maintained. In the circumstances, the directors do not consider it appropriate to provide for depreciation.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
OAK INN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2023 and 30 June 2024
166,503
Depreciation and impairment
At 1 July 2023 and 30 June 2024
Carrying amount
At 30 June 2024
166,503
At 30 June 2023
166,503
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
1,455
2,152
Trade creditors
9,500
9,500
Corporation tax
3,048
2,937
Other taxation and social security
2,056
1,031
Other creditors
1,894
2,140
Accruals and deferred income
900
860
18,853
18,620
5
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Directors loans
66,000
81,000
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100