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Registered number: 03887597
The Old Oak Inn Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03887597
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 744,534 744,949
744,534 744,949
CURRENT ASSETS
Stocks 20,200 16,973
Debtors 5 9,119 -
Cash at bank and in hand 993 1,758
30,312 18,731
Creditors: Amounts Falling Due Within One Year 6 (221,308 ) (112,570 )
NET CURRENT ASSETS (LIABILITIES) (190,996 ) (93,839 )
TOTAL ASSETS LESS CURRENT LIABILITIES 553,538 651,110
Creditors: Amounts Falling Due After More Than One Year 7 (269,266 ) (269,266 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (3,187 )
NET ASSETS 284,272 378,657
CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 243,879 243,879
Profit and Loss Account 40,389 134,774
SHAREHOLDERS' FUNDS 284,272 378,657
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs K A Maynard
Director
21/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Old Oak Inn Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03887597 . The registered office is The Old Oak Inn, Caneheath, Arlington, East Sussex, BN26 6SJ.
The presentation currency of the financial statements is the Pound Sterling (£).  
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Significant judgements and estimations
No significant judgements have had to be made by the directors in preparing these financial statements.
The directors have made key assumptions in the determination of the value of stock.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
- The Company has transferred to the buyer the significant risks and rewards of ownership of the goods;
- The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- The amount of revenue can be measured reliably;
- It is probable that the economic benefits associated with the transaction will flow to the Company; and
- The costs incurred or to be incurred in respect of the transaction can be measured reliably
Specifically, revenue from the sale of goods is recognised when they physically leave the premises to be delivered to the customer.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases, assets held under finance leases are depreciated in the same way as owned assets:
Freehold No depreciation is provided
Plant & Machinery 20% on reducing balance
Fixtures & Fittings Straight line over 5 years
Computer Equipment Straight line over 3 years
Page 3
Page 4
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Stock is valued at the lower of cost and net realisable value. Cost is determined on an average cost basis. Net realisable value represents estimated sales price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.
When stocks are sold, the carrying amount of these stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
2.6. Taxation
Taxation represents the sum of the tax currently payable and deferred tax.
The company's liability to tax is calculated using the tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of the assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period to which the liability is settled or the asset realised, based on tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.
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. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 15 (2023: 22)
15 22
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 705,964 39,521 17,899 951 764,335
Additions 2,685 - 6,785 - 9,470
As at 31 March 2024 708,649 39,521 24,684 951 773,805
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 April 2023 - 13,887 4,934 565 19,386
Provided during the period - 5,127 4,457 301 9,885
As at 31 March 2024 - 19,014 9,391 866 29,271
Net Book Value
As at 31 March 2024 708,649 20,507 15,293 85 744,534
As at 1 April 2023 705,964 25,634 12,965 386 744,949
The freehold property was last revalued on 11 November 2020 by independent valuers not connected with the company on the basis of market value. 
On a historical cost basis the property would have been included at the net book value of £400,849 being the original cost of £463,996 less accumulated depreciation of £63,147. Following the revaluation, the director decided it was no longer appropriate to depreciate the property. The property will continue to be measured at fair value. The director considers the amount shown above to be the fair market value of the freehold property at the year end. 
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 7,385 -
Prepayments 1,734 -
9,119 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,715 9,751
Bank loans and overdrafts 270 384
Other taxes and social security 6,004 1,745
VAT 17,013 1,225
Other creditors 14,500 487
Accruals and deferred income 800 800
Director's loan account 178,006 98,178
221,308 112,570
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 269,266 269,266
269,266 269,266
Page 5
Page 6
Of the creditors falling due after more than one year the following amounts are due after more than five years and is secured by a fixed and floating charge in relation to securing all monies due or becoming in favour of Together Commercial Finance Limited dated 15 March 2022.
2024 2023
£ £
Bank loans 269,226 269,226
Page 6