Company Registration No. NI018755 (Northern Ireland)
Oakdene Properties Limited
Unaudited accounts
for the year ended 30 September 2024
Oakdene Properties Limited
Unaudited accounts
Contents
Oakdene Properties Limited
Statement of financial position
as at 30 September 2024
Tangible assets
6,322
8,157
Investment property
2,016,927
2,016,927
Cash at bank and in hand
15,001
50,000
Creditors: amounts falling due within one year
(333,090)
(352,996)
Net current liabilities
(201,968)
(247,753)
Total assets less current liabilities
1,821,281
1,777,331
Creditors: amounts falling due after more than one year
(850,470)
(875,622)
Net assets
970,811
901,709
Called up share capital
10
10
Profit and loss account
970,801
901,699
Shareholders' funds
970,811
901,709
For the year ending 30 September 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 February 2025 and were signed on its behalf by
Kevin Andrew Owens
Director
Company Registration No. NI018755
Oakdene Properties Limited
Notes to the Accounts
for the year ended 30 September 2024
Oakdene Properties Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI018755. The registered office is 501 ANTRIM ROAD, BELFAST, BT15 3BP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
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 accounts. 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.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Oakdene Properties Limited
Notes to the Accounts
for the year ended 30 September 2024
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 October 2023
28,521
20,949
49,470
At 30 September 2024
28,521
20,949
49,470
At 1 October 2023
26,480
14,833
41,313
Charge for the year
306
1,529
1,835
At 30 September 2024
26,786
16,362
43,148
At 30 September 2024
1,735
4,587
6,322
At 30 September 2023
2,041
6,116
8,157
Fair value at 1 October 2023
2,016,927
At 30 September 2024
2,016,927
Amounts falling due within one year
Trade debtors
100,228
45,072
Other debtors
15,893
10,171
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
27,091
61,018
Taxes and social security
21,521
14,949
Other creditors
284,478
277,029
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
250,485
270,662
Loans from directors
599,985
604,960
Oakdene Properties Limited
Notes to the Accounts
for the year ended 30 September 2024
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).