2023-10-01 10469975 2024-09-30 10469975 2023-10-01 2024-09-30 10469975 2023-09-30 10469975 2022-10-01 2023-09-30 10469975 uk-core:WithinOneYear 2023-09-30 10469975 uk-core:WithinOneYear 2024-09-30 10469975 uk-core:ShareCapital 2024-09-30 10469975 uk-core:ShareCapital 2023-09-30 10469975 uk-core:RevaluationReserve 2024-09-30 10469975 uk-core:RevaluationReserve 2023-09-30 10469975 uk-core:RetainedEarningsAccumulatedLosses 2024-09-30 10469975 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 10469975 uk-bus:Director1 2023-10-01 2024-09-30 10469975 uk-core:FurnitureFittings 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure 10469975 uk-bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 10469975 uk-bus:FRS102 2023-10-01 2024-09-30 10469975 uk-bus:FilletedAccounts 2023-10-01 2024-09-30 10469975 uk-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30
Oakhall Lodge Limited
Registered Number:10469975
For the year ended 30 September 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 30 September 2024
Oakhall Lodge Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
10469975
As at 30 September 2024
Oakhall Lodge Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
287
861
3
4
575,000
575,000
Investment property
575,287
575,861
Current assets
Trade and other receivables
13,029
13,456
5
1,055
Cash and cash equivalents
2,520
15,976
14,084
Trade and other payables: amounts falling due within one
year
(624,383)
(604,651)
6
(610,299)
(588,675)
Net current liabilities
Total assets less current liabilities
(13,388)
(34,438)
(9,041)
(9,041)
Provisions for liabilities
(22,429)
Net liabilities
(43,479)
Capital and reserves
Called up share capital
100
100
Revaluation reserve
27,124
27,124
7
Retained earnings
(49,653)
(70,703)
(22,429)
(43,479)
Shareholders' funds
For the year ended 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 of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges her responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
L C Read-Farrell Director
These financial statements were approved and authorised for issue by the Board on 26 June 2025 and were signed by:
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4
Registered Number :
10469975
For the year ended 30 September 2024
Oakhall Lodge Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 30 September 2024
Oakhall Lodge Limited
Notes to the Financial Statements
Statutory Information
Oakhall Lodge Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 10469975.
Registered address:
Reads Property Developments
Hopper Way
Diss
Norfolk
IP22 4GT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, for rent of residential property held by the company.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% Straight line
Furniture and Fittings
Investment property
Investment property which is held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Going Concern
As at 30 September 2024 the company had net current liabilities of £588,675 (2023: £610,299) and net liabilities of
£22,429 (2023: £43,479). The director is of the opinion that the working capital available at the year end, together
with the continued support of the company's related parties, will be sufficient to enable the company to continue
operating for at least the 12 months from signing these accounts, and pay its debts as they fall due. The director has
therefore concluded that the accounts should continue to be prepared on a going concern basis.
2. Prior year adjustments
The comparative figures for 2023 have been restated to bring in the deferred tax provision in respect of the
differences between the fair value and original cost of the property before it was reclassed as investment property in
November 2022. This resulted in a decrease to the revaluation reserve and the profit and loss reserve of £9,041.
This can be seen in the Statement of Changes in Equity on page 6.
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6
For the year ended 30 September 2024
Oakhall Lodge Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment
Furniture and
Fittings
£
Cost or
valuation
At 01 October 2023
46,543
At 30 September 2024
46,543
Provision for depreciation and impairment
At 01 October 2023
45,682
Charge for year
574
At 30 September 2024
46,256
At 30 September 2024
Net book value
287
At 30 September 2023
861
4. Investment property
Total
£
Fair value
At 01 October 2023
575,000
At 30 September 2024
575,000
Net book value
At 30 September 2024
575,000
At 30 September 2023
575,000
Investment property comprises of one property with an annexe. The property was professionally valued in February 2022 and the director is of the opinion that there has been no material change to the fair value as of 30 September 2024.
5. Trade and other receivables
2023
2024
£
£
Trade debtors
847
119
Other debtors
12,609
12,910
13,029
13,456
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7
For the year ended 30 September 2024
Oakhall Lodge Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
11,222
-
Taxation and social security
171
-
Other creditors
593,258
624,383
604,651
624,383
7. Reserves
Total
£
Revaluation reserve at 01 October 2023
27,124
27,124
Revaluation reserve at 30 September 2024
The balance in the Revaluation Reserve has arisen from the revaluation of PPE to fair value, before it was
re-classed as investment property. The revaluation surplus is not distributable.
8. Related party transactions
During the year the company received loans from related parties under common control of £2,450 and made
repayments towards related party loans of £36,555. The balances due to related parties as at 30 September 2024
was £565,538 (2023: £599,643) and this is included in Other Creditors in note 7 to the accounts. The loans have
been provided on an interest free basis and are repayable on demand.
In addtion the company provided loans to related parties under common control of £1,457. The balance due from
these related parties as at 30 September 2024 was £10,216 (2023: £8,759). The balance is included within Other
Debtors in note 6 to the accounts. The loans have been provided on an interest free basis and are repayable on
demand.
9. Average number of persons employed
During the year the average number of employees was 1 (2023 : 1)
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