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Company No: 08905238 (England and Wales)

OASIS PROPERTY SOUTH WEST LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

OASIS PROPERTY SOUTH WEST LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

OASIS PROPERTY SOUTH WEST LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
OASIS PROPERTY SOUTH WEST LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Investment property 3 1,000,000 1,000,000
1,000,000 1,000,000
Current assets
Debtors 4 0 19,110
Cash at bank and in hand 134,037 79,699
134,037 98,809
Creditors: amounts falling due within one year 5 ( 227,720) ( 296,760)
Net current liabilities (93,683) (197,951)
Total assets less current liabilities 906,317 802,049
Creditors: amounts falling due after more than one year 6 ( 505,000) ( 505,000)
Net assets 401,317 297,049
Capital and reserves
Called-up share capital 7 20,000 20,000
Profit and loss account 381,317 277,049
Total shareholders' funds 401,317 297,049

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Oasis Property South West Limited (registered number: 08905238) were approved and authorised for issue by the Board of Directors on 03 June 2025. They were signed on its behalf by:

Michael James Oldrieve
Director
Mark Stupples
Director
OASIS PROPERTY SOUTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
OASIS PROPERTY SOUTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Oasis Property South West Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Colly Park, Christow, Exeter, EX6 7NP, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Investment property

Investment property
£
Valuation
As at 01 April 2024 1,000,000
As at 31 March 2025 1,000,000

Assumptions

These assumptions were arrived at taking account of information and advice from external property consultants, in-house property experts, publicly available data and judgement. A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements. The 2025 valuations were made by the directors, on an open market value for existing use basis.

4. Debtors

2025 2024
£ £
Trade debtors 0 7,840
VAT recoverable 0 11,270
0 19,110

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 930 39,236
Amounts owed to directors 211,043 211,043
Accruals and deferred income 12,806 46,481
Taxation and social security 2,941 0
227,720 296,760

6. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans (secured) 505,000 505,000

Security is given on the loan by way of a fixed and floating charge against all the property or undertaking of the company.

Also contains a negative pledge.

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
20,000 Ordinary shares of £ 1.00 each 20,000 20,000

8. Related party transactions

Transactions with the entity's directors

2025 2024
£ £
Owed to the directors 211,043 211,043

The directors have provided personal guarantees on the bank loan, which is secured on investment property.

No interest is charged on the balance and there are no fixed repayment terms.