Company registration number 01503810 (England and Wales)
OAKLANDS CLEVEDON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
OAKLANDS CLEVEDON LIMITED
CONTENTS
Page
Balance sheet
3
Notes to the financial statements
4 - 8
OAKLANDS CLEVEDON LIMITED
COMPANY INFORMATION
Directors
A D Alvis
(Appointed 8 March 2024)
M S Humphries
A D Patrick
R T White
Secretary
Easton Bevins Block Management
Company number
01503810
Registered office
Unit 26 Osprey Court
Hawkfield Way
Hawkfield Business Park
Bristol
BS14 0BB
Accountants
Xeinadin South Wales & West Limited
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP
Business address
Oaklands
Elton Road
Clevedon
North Somerset
BS21 7QZ
OAKLANDS CLEVEDON LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF OAKLANDS CLEVEDON LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oaklands Clevedon Limited for the year ended 31 October 2024 which comprise the profit and loss account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of Oaklands Clevedon Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Oaklands Clevedon Limited and state those matters that we have agreed to state to the board of directors of Oaklands Clevedon Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oaklands Clevedon Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Oaklands Clevedon Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Oaklands Clevedon Limited. You consider that Oaklands Clevedon Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oaklands Clevedon Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Xeinadin South Wales & West Limited
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP
23 May 2025
OAKLANDS CLEVEDON LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
2024
2023
Notes
£
£
Turnover
67,615
64,825
Administrative expenses
(80,088)
(85,786)
Operating loss
(12,473)
(20,961)
Interest receivable and similar income
258
221
Loss before taxation
(12,215)
(20,740)
Tax on loss
-
0
-
0
Loss for the financial year
(12,215)
(20,740)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

OAKLANDS CLEVEDON LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,444
4,444
Current assets
Debtors
4
6,410
4,066
Cash at bank and in hand
15,380
22,890
21,790
26,956
Creditors: amounts falling due within one year
5
(6,670)
(2,621)
Net current assets
15,120
24,335
Net assets
19,564
28,779
Capital and reserves
Called up share capital
6
5,000
5,000
Other reserves
26,779
44,519
Profit and loss reserves
(12,215)
(20,740)
Total equity
19,564
28,779

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

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.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 22 May 2025 and are signed on its behalf by:
R T White
Director
Company registration number 01503810 (England and Wales)
OAKLANDS CLEVEDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
1
Accounting policies
Company information

Oaklands Clevedon Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 26 Osprey Court, Hawkfield Way, Hawkfield Business Park, Bristol, BS14 0BB. The principal place of business is Oaklands, Elton Road, Clevedon, North Somerset, BS21 7QZ.

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
N/A

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

OAKLANDS CLEVEDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
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.

1.6
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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.

OAKLANDS CLEVEDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 6 -
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.

1.7
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.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

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

2024
2023
Number
Number
Total
5
6
OAKLANDS CLEVEDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 7 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2023 and 31 October 2024
4,444
Depreciation and impairment
At 1 November 2023 and 31 October 2024
-
0
Carrying amount
At 31 October 2024
4,444
At 31 October 2023
4,444
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,487
589
Other debtors
3,923
3,477
6,410
4,066
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,086
185
Other creditors
2,584
2,436
6,670
2,621
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £125 each
40
40
5,000
5,000
OAKLANDS CLEVEDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 8 -
7
Reserves

A sinking fund is operated to put aside reserves for future years against unforeseen repairs and maintenance.

 

The general reserve fund is split into two separate accounts, one for flats and one for houses, so the level of service charges can be maintained to meet the associated costs.

 

The balances of these reserve funds are shown below:

 

 

 

Flats

Houses

Sinking Fund

Total

Reserves B/forward

8,369

2,587

12,823

23,779

Surplus / (Deficit)

(9,287)

72

3,000

(6,215)

Transfer to Sinking Fund

(2,475)

(525)

-

(3,000)

 

 

 

 

 

Reserves C/forward

(3,393)

2,134

15,823

14,564

 

 

 

 

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