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Registration number: 01849794

Oaklands Park Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Oaklands Park Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Oaklands Park Limited

(Registration number: 01849794)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

315,499

240,849

Current assets

 

Debtors

5

29,867

3,000

Cash at bank and in hand

 

9,409

85,697

 

39,276

88,697

Creditors: Amounts falling due within one year

6

(130,553)

(129,083)

Net current liabilities

 

(91,277)

(40,386)

Total assets less current liabilities

 

224,222

200,463

Creditors: Amounts falling due after more than one year

6

(17,500)

(27,500)

Net assets

 

206,722

172,963

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

205,722

171,963

Shareholders' funds

 

206,722

172,963

For the financial year ending 31 December 2023 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 prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 21 May 2025 and signed on its behalf by:
 


Mr Barrie Smith
Director

 

Oaklands Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7C Cranmere Road
Okehampton
Devon
EX20 1UE

Principal activity

The principal activity of the company is partner in a residential caravan site business

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements are prepared in sterling which is the functional currency of the entity.

 

Oaklands Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold property

2.50% straight line

Fittings, fixtures and equipment

25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

 

Oaklands Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Oaklands Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

314,150

910

-

315,060

Additions

-

-

112,500

112,500

At 31 December 2023

314,150

910

112,500

427,560

Depreciation

At 1 January 2023

73,524

687

-

74,211

Charge for the year

9,565

160

28,125

37,850

At 31 December 2023

83,089

847

28,125

112,061

Carrying amount

At 31 December 2023

231,061

63

84,375

315,499

At 31 December 2022

240,626

223

-

240,849

Included within the net book value of land and buildings above is £231,061 (2022 - £240,626) in respect of short leasehold land and buildings.
 

5

Debtors

2023
£

2022
£

Other debtors

29,867

-

Prepayments

-

3,000

29,867

3,000

 

Oaklands Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

10,000

10,000

Taxation and social security

 

65,178

46,226

Accruals and deferred income

 

3,000

6,060

Other creditors

 

52,375

66,797

 

130,553

129,083

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

17,500

27,500

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Oaklands Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

17,500

27,500

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,000

10,000

9

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Directors

(13,630)

335,907

(292,410)

29,867

         
       

 

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Directors

(40,649)

29,044

(2,025)

(13,630)

 

Summary of transactions with associates

At the year end the company owed £31,375 (2022: £32,167) to Oak Residential Developments Limited in respect of the funds advanced. The company is under common control with Oaklands Park Limited.