Company registration number 00989021 (England and Wales)
TUDOR OAK KENT TRADING AS C.R. FOREMAN LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
TUDOR OAK KENT TRADING AS C.R. FOREMAN LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
TUDOR OAK KENT TRADING AS C.R. FOREMAN LTD
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
40,050
20,155
Investment property
5
2,069,750
2,069,750
Investments
6
75
75
2,109,875
2,089,980
Current assets
Stocks
178,042
185,541
Debtors
8
781,895
806,835
Cash at bank and in hand
1,418,308
1,313,663
2,378,245
2,306,039
Creditors: amounts falling due within one year
9
(97,310)
(80,325)
Net current assets
2,280,935
2,225,714
Total assets less current liabilities
4,390,810
4,315,694
Provisions for liabilities
(8,035)
(2,935)
Net assets
4,382,775
4,312,759
Capital and reserves
Called up share capital
10
4,750
4,750
Capital redemption reserve
250
250
Profit and loss reserves
4,377,775
4,307,759
Total equity
4,382,775
4,312,759

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 30 June 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 member has 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.

TUDOR OAK KENT TRADING AS C.R. FOREMAN LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 June 2025 and are signed on its behalf by:
C R Foreman
Director
Company Registration No. 00989021
TUDOR OAK KENT TRADING AS C.R. FOREMAN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Tudor Oak Kent Trading As C.R. Foreman Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Parsonage Farm, Heath Road, Boughton Monchelsea, Maidstone, Kent, United Kingdom, ME17 4JB.

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 investment properties 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
Going concern

The directors have considered the fair values for each of the company's investment properties at 30 June 2024, and these fair values will continue to be reviewed regularly, having regard to the local property market. true

 

Furthermore the directors remain of the opinion that the company’s historical liquidity position which existed at 30 June 2024 and which continues to be closely monitored, will be sufficient to enable the company to continue operating for at least the 12 months from the date of approving these accounts without the need to dispose of any property assets. They have therefore concluded that the accounts should continue to be prepared on the going concern basis.

1.3
Turnover

Turnover represents the net invoiced value of goods sold, excluding VAT. Rent receivable represents the amounts due from tenants in accordance with the terms of their leases, and is disclosed as other operating income.

1.4
Tangible fixed assets

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

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

Plant and machinery
25% on written down value
Fixtures, fittings & equipment
25% on written down value
Motor vehicles
25% on written down value
TUDOR OAK KENT TRADING AS C.R. FOREMAN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Investment property

Investment properties, which are properties held to earn rentals and/or for capital appreciation, are measured using the fair value model and stated at their fair values at the reporting date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 

The directors estimate the fair values of the properties at each balance sheet date, having regard to prevailing property market conditions.

1.6
Fixed asset investments

Interests in subsidiaries 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.

1.7
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).

Recoverable amount is the higher of fair value less costs to sell and value in use.

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 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 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.

1.8
Stocks

Stock of raw materials and goods for resale is valued by the directors at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

1.9
Cash and cash equivalents

Cash at bank and in hand 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.

1.10
Financial instruments

The company applies the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments, which are classified as basic.

 

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.

TUDOR OAK KENT TRADING AS C.R. FOREMAN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
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.

Basic financial liabilities

Basic financial liabilities, including creditors 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.

 

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.

1.11
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.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.13
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.

TUDOR OAK KENT TRADING AS C.R. FOREMAN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 6 -
1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023
127,934
Additions
25,465
At 30 June 2024
153,399
Depreciation and impairment
At 1 July 2023
107,779
Depreciation charged in the year
5,570
At 30 June 2024
113,349
Carrying amount
At 30 June 2024
40,050
At 30 June 2023
20,155
TUDOR OAK KENT TRADING AS C.R. FOREMAN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
5
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
2,069,750

At 30 June 2024 the directors reviewed the fair value of the company's investment properties and based on their assessment of the current market value given the age, use and rental agreements relating to each property, they believed the portfolio of properties to have a combined value of £2,069,750 at that date.

 

 

6
Fixed asset investments
2024
2023
£
£
Investments in subsidary undertaking at cost
75
75
7
Subsidiaries

Details of the company's subsidiaries at 30 June 2024 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
C R Foreman & Son Properties Limited
United Kingdom
Rental
Ordinary shares
75.00
0
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
15,239
17,077
Corporation tax recoverable
1,944
1,944
Amounts owed by group undertakings
738,546
764,847
Other debtors
26,166
22,967
781,895
806,835
9
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
14,032
10,463
Corporation tax
24,387
24,292
Other creditors
58,891
45,570
97,310
80,325
TUDOR OAK KENT TRADING AS C.R. FOREMAN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4,750
4,750
4,750
4,750
11
Reserves

The profit and loss account reserve includes non-distributable reserves of £661,977 (2023: £661,977) in relation to the revaluation of investment properties less any related potential deferred tax.

2024-06-302023-07-01falsefalsefalse20 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityC R ForemanC L ForemanC R Foreman009890212023-07-012024-06-30009890212024-06-30009890212023-06-3000989021core:OtherPropertyPlantEquipment2024-06-3000989021core:OtherPropertyPlantEquipment2023-06-3000989021core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3000989021core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3000989021core:CurrentFinancialInstruments2024-06-3000989021core:CurrentFinancialInstruments2023-06-3000989021core:ShareCapital2024-06-3000989021core:ShareCapital2023-06-3000989021core:CapitalRedemptionReserve2024-06-3000989021core:CapitalRedemptionReserve2023-06-3000989021core:RetainedEarningsAccumulatedLosses2024-06-3000989021core:RetainedEarningsAccumulatedLosses2023-06-3000989021core:ShareCapitalOrdinaryShareClass12024-06-3000989021core:ShareCapitalOrdinaryShareClass12023-06-3000989021bus:CompanySecretaryDirector12023-07-012024-06-3000989021core:PlantMachinery2023-07-012024-06-3000989021core:FurnitureFittings2023-07-012024-06-3000989021core:MotorVehicles2023-07-012024-06-30009890212022-07-012023-06-3000989021core:OtherPropertyPlantEquipment2023-06-3000989021core:OtherPropertyPlantEquipment2023-07-012024-06-30009890212023-06-3000989021core:Subsidiary12023-07-012024-06-3000989021core:Subsidiary112023-07-012024-06-3000989021bus:OrdinaryShareClass12023-07-012024-06-3000989021bus:OrdinaryShareClass12024-06-3000989021bus:OrdinaryShareClass12023-06-3000989021bus:PrivateLimitedCompanyLtd2023-07-012024-06-3000989021bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3000989021bus:FRS1022023-07-012024-06-3000989021bus:AuditExemptWithAccountantsReport2023-07-012024-06-3000989021bus:Director12023-07-012024-06-3000989021bus:Director22023-07-012024-06-3000989021bus:CompanySecretary12023-07-012024-06-3000989021bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP