Oak Property Investments Limited 03733566 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is the provision of property management services, lettings agency, property investment and property development. Digita Accounts Production Advanced 6.30.9574.0 true false 03733566 2023-11-01 2024-10-31 03733566 2024-10-31 03733566 core:CurrentFinancialInstruments 2024-10-31 03733566 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 03733566 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 03733566 core:AdditionsToInvestments 2024-10-31 03733566 core:CostValuation 2024-10-31 03733566 core:FurnitureFittingsToolsEquipment 2024-10-31 03733566 core:LandBuildings 2024-10-31 03733566 core:MotorVehicles 2024-10-31 03733566 bus:SmallEntities 2023-11-01 2024-10-31 03733566 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 03733566 bus:FilletedAccounts 2023-11-01 2024-10-31 03733566 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 03733566 bus:RegisteredOffice 2023-11-01 2024-10-31 03733566 bus:CompanySecretary1 2023-11-01 2024-10-31 03733566 bus:Director1 2023-11-01 2024-10-31 03733566 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 03733566 bus:Agent1 2023-11-01 2024-10-31 03733566 core:IntangibleAssetsOtherThanGoodwill 2023-11-01 2024-10-31 03733566 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 03733566 core:LandBuildings 2023-11-01 2024-10-31 03733566 core:MotorVehicles 2023-11-01 2024-10-31 03733566 core:Vehicles 2023-11-01 2024-10-31 03733566 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-11-01 2024-10-31 03733566 core:OtherRelatedParties 2023-11-01 2024-10-31 03733566 countries:EnglandWales 2023-11-01 2024-10-31 03733566 2023-10-31 03733566 core:CostValuation 2023-10-31 03733566 core:FurnitureFittingsToolsEquipment 2023-10-31 03733566 core:LandBuildings 2023-10-31 03733566 core:MotorVehicles 2023-10-31 03733566 2023-04-01 2023-10-31 03733566 2023-10-31 03733566 core:CurrentFinancialInstruments 2023-10-31 03733566 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 03733566 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 03733566 core:FurnitureFittingsToolsEquipment 2023-10-31 03733566 core:LandBuildings 2023-10-31 03733566 core:MotorVehicles 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03733566

Oak Property Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Oak Property Investments Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Oak Property Investments Limited

Company Information

Director

RJH Whittaker

Company secretary

DM Bingham

Registered office

34 Shakespeare Street
Nottingham
NG1 4FQ

Accountants

9ine
Chartered Accountants76 Bridgford Road
West Bridgford
Nottingham
NG2 6AX

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Oak Property Investments Limited
for the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oak Property Investments Limited for the year ended 31 October 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Oak Property Investments Limited, as a body, in accordance with the terms of our engagement letter dated 24 September 2019. Our work has been undertaken solely to prepare for your approval the accounts of Oak Property Investments Limited and state those matters that we have agreed to state to the Board of Directors of Oak Property Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oak Property Investments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Oak Property Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Oak Property Investments Limited. You consider that Oak Property Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Oak Property Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.


 

......................................

9ine
Chartered Accountants
76 Bridgford Road
West Bridgford
Nottingham
NG2 6AX

22 July 2025

 

Oak Property Investments Limited

(Registration number: 03733566)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

3,483

5,473

Tangible assets

5

875,754

910,115

Investment property

6

7,795,000

7,820,000

Investments

7

70

-

Other financial assets

8

-

7,737

 

8,674,307

8,743,325

Current assets

 

Stocks

9

10,542

8,795

Debtors

10

712,143

762,070

Cash at bank and in hand

 

1,114,354

1,323,268

 

1,837,039

2,094,133

Creditors: Amounts falling due within one year

11

(1,515,077)

(1,753,811)

Net current assets

 

321,962

340,322

Total assets less current liabilities

 

8,996,269

9,083,647

Creditors: Amounts falling due after more than one year

11

(4,221,089)

(2,644,435)

Provisions for liabilities

(866,398)

(881,728)

Net assets

 

3,908,782

5,557,484

Capital and reserves

 

Called up share capital

12

100

110

Capital redemption reserve

10

-

Revaluation reserve

3,694,617

3,718,420

Retained earnings

214,055

1,838,954

Shareholders' funds

 

3,908,782

5,557,484

 

Oak Property Investments Limited

(Registration number: 03733566)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 July 2025



 

.........................................

DM Bingham
Company secretary

 

Oak Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
34 Shakespeare Street
Nottingham
NG1 4FQ

These financial statements were authorised for issue by the director on 22 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Oak Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

Nil

Fixtures, fittings and equipment

20% straight line

Motor vehicles

25% straight line

Investment properties

Investment properties are carried at fair value, derived from the current market prices for comparable real estate determind by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible assets

Straight line over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Oak Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Oak Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 22 (2023 - 24).

 

Oak Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 November 2023

17,868

At 31 October 2024

17,868

Amortisation

At 1 November 2023

12,395

Amortisation charge

1,990

At 31 October 2024

14,385

Carrying amount

At 31 October 2024

3,483

At 31 October 2023

5,473

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

800,000

332,950

111,146

1,244,096

Additions

-

14,229

5,750

19,979

At 31 October 2024

800,000

347,179

116,896

1,264,075

Depreciation

At 1 November 2023

-

268,114

65,867

333,981

Charge for the year

-

31,361

22,979

54,340

At 31 October 2024

-

299,475

88,846

388,321

Carrying amount

At 31 October 2024

800,000

47,704

28,050

875,754

At 31 October 2023

800,000

64,836

45,279

910,115

 

Oak Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Investment properties

Total
£

At 1 November 2023

7,820,000

Fair value adjustments

(25,000)

At 31 October 2024

7,795,000

All properties were revalued by the director using the traditional valuation methodology.

7

Investments

Subsidiaries

Total
£

At 1 November 2023

-

Additions

70

At 31 October 2024

70

8

Other financial assets

Total
£

At 1 November 2023

7,737

Disposals

(7,737)

At 31 October 2024

-

9

Stocks

2024
£

2023
£

Other inventories

10,542

8,795

10

Debtors

2024
£

2023
£

Trade debtors

37,593

54,288

Prepayments

72,347

93,852

Other debtors

602,203

613,930

 

712,143

762,070

 

Oak Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

11

Creditors

2024
£

2023
£

Due within one year

Loans and borrowings

156,187

154,755

Trade creditors

24,495

80,347

Taxation and social security

250,692

328,164

Accruals and deferred income

172,897

195,552

Other creditors

910,806

994,993

1,515,077

1,753,811


Creditors include bank loans and net obligations under hire purchase contracts which are secured of £119,861 (2023 - £144,236).

2024
£

2023
£

Due after one year

Loans and borrowings

4,221,089

2,644,435


Creditors include bank loans and net obligations under hire purchase contracts which are secured of £3,173,457 (2023 - £2,141,219).

Creditors include bank loans repayable by instalments of £670,572 (2023 - £316,015) and not repayable by installments of £1,959,020 (2023 - £1,503,970), due after more than five years.

12

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

-

-

10

10

100

100

110

110

13

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £16,968 (2023 - £33,946).

 

Oak Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

14

Related party transactions

Summary of transactions with all entities with joint control or significant interest

The company has various loans with related parties.

During the year, net advances of £4,681 (2023 - £67,174) was loaned to companies owned by a shareholder. In addition, net advances of £560,000 (2023 - £nil) was received from companies owned by a shareholder. At the balance sheet date, the total amounts owed to the company is £251,555 (2023 - £246,874), and the total amounts owed by the company is £990,000 (2023 - £430,000). No interest has been charged or incurred on the loans.

Summary of transactions with other related parties

Parent of director
During the period the company had a loan payable to the director's parent. The total amount of interest charged was £7,067 (2023 - £4,399). At the balance sheet date the amount due is £73,191 (2023 - £87,335).