Registered number
13642140
OAKLAND PLACE LIMITED
Filleted Abridged Accounts
30 September 2024
OAKLAND PLACE LIMITED
Registered number: 13642140
Abridged Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 69,457 77,175
Investments 5 596,622 596,622
666,079 673,797
Current assets
Debtors 2,525 2,394
Cash at bank and in hand 276 44
2,801 2,438
Creditors: amounts falling due within one year (128,976) (103,145)
Net current liabilities (126,175) (100,707)
Total assets less current liabilities 539,904 573,090
Creditors: amounts falling due after more than one year (658,420) (642,420)
Net liabilities (118,516) (69,330)
Capital and reserves
Called up share capital 121 121
Profit and loss account (118,637) (69,451)
Shareholders' funds (118,516) (69,330)
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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mr. P Andreou
Director
Approved by the board on 10 June 2025
OAKLAND PLACE LIMITED
Notes to the Abridged Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The abridged 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Fixtures, fittings, tools and equipment 10% reducing balance
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Investment Properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction cost. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
4 Tangible fixed assets
Total
£
Cost
At 1 October 2023 86,000
At 30 September 2024 86,000
Depreciation
At 1 October 2023 8,825
Charge for the year 7,718
At 30 September 2024 16,543
Net book value
At 30 September 2024 69,457
At 30 September 2023 77,175
5 Investments
Other
investments
£
Cost
At 1 October 2023 596,622
At 30 September 2024 596,622
Historical cost
At 1 October 2023 596,622
At 30 September 2024 596,622
Other investments is investment properties. The fair value of the property at 30th September 2024 has been arrived at on the basis of a valuation carried out at that date by Mr P Andreou, a director of the company who is not a professionally qualified valuer. The valuation was arrived by reference to market evidence of transaction prices for similar properties in its location and takes into account the current state of rental market in the area where the properties are situated.
6 Controlling party
The company is controlled by the directors by virtue of holding entire share capital.
7 Other information
OAKLAND PLACE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
18 The Broadway
East Lane
Wembley
Middlesex
HA9 8JU
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