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Registration number: 05540450

Oaken Lodge Developments Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Oaken Lodge Developments Limited

(Registration number: 05540450)

Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

3

425,000

300,000

Current assets

 

Cash at bank and in hand

 

26,312

40,878

Creditors: Amounts falling due within one year

4

(18,410)

(14,389)

Net current assets

 

7,902

26,489

Total assets less current liabilities

 

432,902

326,489

Creditors: Amounts falling due after more than one year

4

(833)

(1,833)

Provisions for liabilities

(31,250)

-

Net assets

 

400,819

324,656

Capital and reserves

 

Called up share capital

157,850

157,850

Revaluation reserve

5

93,750

-

Retained earnings

149,219

166,806

Shareholders' funds

 

400,819

324,656

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 12 May 2025 and signed on its behalf by:
 

.........................................

A J Parkin

Director

 

Oaken Lodge Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

Accounting policies

Statutory information

Oaken Lodge Developments Limited is a private company, limited by shares, domiciled in England and Wales, company number 05540450. The registered office is at The Old Grammar School, 13 Moorgate Road, Rotherham, S60 2EN.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover represents the invoiced value of rents received during the year.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Oaken Lodge Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

3

Investment properties

Fair value

2024
£

At 1 September 2023

300,000

Fair value adjustments

125,000

At 31 August 2024

425,000

Fair value at 31 August 2024 is represented by:
 

£

Cost

317,122

Revaluation

107,878

425,000

A valuation was undertaken by an independant RICS qualified valuer, SMC Brownill Vickers.

4

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

1,000

1,000

Taxation and social security

5,023

972

Accruals and deferred income

12,387

12,417

18,410

14,389

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

833

1,833

Loans and borrowings are secured on the company's investment property.

 

Oaken Lodge Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

5

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Investment property revaluation

125,000

125,000

Deferred tax provision

(31,250)

(31,250)

As at 31 August 2024

93,750

93,750