Registered number
09641139
Oak House Homes Limited
Unaudited Filleted Accounts
30 June 2024
Oak House Homes Limited
Registered number: 09641139
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 1
Investments 4 1,120,000 1,000,000
1,120,000 1,000,001
Current assets
Debtors 5 5,814 -
Cash at bank and in hand 9,080 5,919
14,894 5,919
Creditors: amounts falling due within one year 6 (460,609) (348,784)
Net current liabilities (445,715) (342,865)
Total assets less current liabilities 674,285 657,136
Creditors: amounts falling due after more than one year 7 (549,020) (549,778)
Provisions for liabilities (32,824) (33,967)
Net assets 92,441 73,391
Capital and reserves
Called up share capital 2 2
Revaluation reserve 9 139,935 144,810
Profit and loss account (47,496) (71,421)
Shareholders' funds 92,441 73,391
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Matthew McCarrick
Director
Approved by the board on 25 March 2025
Oak House Homes Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the rents received or receivable, net of discounts.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer Equipment 20% Straight Line
Fixtures, fittings, tools and equipment 15% Straight Line
Investment properties
Investment property, which is property held to earn and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 2,574
At 30 June 2024 2,574
Depreciation
At 1 July 2023 2,573
Charge for the year 1
At 30 June 2024 2,574
Net book value
At 30 June 2024 -
At 30 June 2023 1
4 Investment properties
Other
investments
£
Cost
At 1 July 2023 1,000,000
Additions 126,018
Revaluation (6,018)
At 30 June 2024 1,120,000
5 Debtors 2024 2023
£ £
Trade debtors 5,814 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 886 905
Other creditors 459,723 347,879
460,609 348,784
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 549,020 549,778
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 545,339 545,339
9 Revaluation reserve 2024 2023
£ £
At 1 July 2023 144,810 136,218
(Loss)/gain on revaluation of land and buildings (6,018) 10,607
Deferred taxation arising on the revaluation of land and buildings 1,143 (2,015)
At 30 June 2024 139,935 144,810
10 Other information
Oak House Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Turnpark
Station Road
Chester Le Street
Durham
DH3 3DU
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