Registered number
04664366
(England and Wales)
C W OAKLEY & SONS LIMITED
Unaudited Filleted Accounts
31 August 2024
C W OAKLEY & SONS LIMITED
Registered number: 04664366
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 765,921 765,921
Current assets
Debtors 4 2,063 4,923
Cash at bank and in hand 106,946 61,896
109,009 66,819
Creditors: amounts falling due within one year 5 (74,942) (98,676)
Net current assets/(liabilities) 34,067 (31,857)
Total assets less current liabilities 799,988 734,064
Creditors: amounts falling due after more than one year 6 (14,188) (47,381)
Provisions for liabilities (53,460) (53,460)
Net assets 732,340 633,223
Capital and reserves
Called up share capital 2 2
Revaluation reserve 8 160,382 160,382
Profit and loss account 571,956 472,839
Shareholders' funds 732,340 633,223
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A R Oakley
Director
Approved by the board on 19 June 2025
C W OAKLEY & SONS LIMITED
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental and management of commercial premises which are either owned or leased.
Tangible fixed assets
Tangible fixed assets are measured at revaluation for freehold land and buildings and at cost for leasehold buildings improvements. Depreciation is not provided on land and buildings.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2023 765,921
At 31 August 2024 765,921
Depreciation
At 31 August 2024 -
Net book value
At 31 August 2024 765,921
At 31 August 2023 765,921
Freehold land and buildings: 2024 2023
£ £
Historical cost 549,340 549,340
Cumulative depreciation based on historical cost - -
549,340 549,340
4 Debtors 2024 2023
£ £
Other debtors 2,063 4,923
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,648 44,168
Taxation and social security costs 50,268 39,879
Other creditors 14,026 14,629
74,942 98,676
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,188 47,381
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 24,836 91,549
The bank loans are secured by fixed charges on the company's freehold land and buildings and all other assets.
8 Revaluation reserve 2024 2023
£ £
At 1 September 2023 160,382 173,212
Deferred taxation arising on the revaluation of land and buildings - (12,830)
At 31 August 2024 160,382 160,382
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 463,161 544,359
10 Related party transactions
The company receives rent for three commercial properties from Marketpool Ltd, a company 50% owned by the company's Director.
The company has the benefit of an inter company loan from Marketpool Ltd. The balance at 31 August 2024 was £6,308 (2023 - £6,008) on which the company has paid interest at 5% of the average balance for the year.
11 Controlling party
The ultimate controlling parties are Mr AR Oakley and Mrs D Oakley bu virtue of their ownership of 50% each of the share capital.
12 Other information
C W OAKLEY & SONS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Units 1 - 4 Crossley Farm Business Centre
Swan Lane
Winterbourne
Bristol
BS36 1RH
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