Company Registration No. 06932963 (England and Wales)
Oakridge Farms (Holdings) Limited
Unaudited financial statements
for the year ended 31 March 2024
Pages for filing with the registrar
Oakridge Farms (Holdings) Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Oakridge Farms (Holdings) Limited
Balance sheet
As at 31 March 2024
1
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Investments
3
1
1
Current assets
Debtors
5
608,236
608,236
Creditors: amounts falling due within one year
6
(400)
(400)
Net current assets
607,836
607,836
Total assets less current liabilities
607,837
607,837
Capital and reserves
Called up share capital
20,000
20,000
Profit and loss reserves
587,837
587,837
Total equity
607,837
607,837

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 31 March 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 25 March 2025 and are signed on its behalf by:
Russell  Bloomfield
Director
Company Registration No. 06932963
Oakridge Farms (Holdings) Limited
Notes to the financial statements
For the year ended 31 March 2024
2
1
Accounting policies
Company information

Oakridge Farms (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Midland House, 2 Poole Road, Bournemouth, Dorset, BH2 5QY.

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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Oakridge Farms (Holdings) Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
3
Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
Oakridge Farms (Holdings) Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
4
4
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Oakridge Farms (Dorset) Limited
England and Wales
Ordinary
100
-
5
Debtors
2024
2023
as restated
Amounts falling due within one year:
£
£
Corporation tax recoverable
231
231
Amounts owed by group undertakings
608,005
608,005
608,236
608,236
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
400
400
7
Prior period adjustment
Reconciliation of changes in equity
1 April
31 March
2022
2023
Notes
£
£
Adjustments to prior year
Reclassification of dividends received from subsidiary as intercompany loan repayments
1
(108,500)
(108,500)
Remove value not transferred from subsidiary company
2
(180,000)
(180,000)
Total adjustments
(288,500)
(288,500)
Equity as previously reported
896,337
896,337
Equity as adjusted
607,837
607,837
Analysis of the effect upon equity
Profit and loss reserves
(288,500)
(288,500)
Oakridge Farms (Holdings) Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
7
Prior period adjustment (continued)
5
Notes to reconciliation
1) Dividends

Following prior year adjustments to the accounts of the company's subsidiary investment, the subsidiary company has been left with insufficient reserves to cover previously declared dividends. As a result, these financial statements have been restated to reclassify dividends received from the company's subsidiary investment as intercompany loan repayments. Equity has decreased by £108,500 as a result of this adjustment.

2) Value not transferred from subsidiary

The financial statements have been restated to remove the value of barns which were brought in via distribution in specie in 2011. The ownership of the barns did not transfer to Oakridge Farms (Holdings) and it was incorrect that these were brought in at the time. This adjustment results in a £180,000 decrease in equity.

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