IRIS Accounts Production v25.1.4.42 00679594 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh006795942023-09-30006795942024-09-30006795942023-10-012024-09-30006795942022-09-30006795942022-10-012023-09-30006795942023-09-3000679594ns15:EnglandWales2023-10-012024-09-3000679594ns14:PoundSterling2023-10-012024-09-3000679594ns10:Director12023-10-012024-09-3000679594ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3000679594ns10:SmallEntities2023-10-012024-09-3000679594ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3000679594ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3000679594ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3000679594ns10:FullAccounts2023-10-012024-09-3000679594ns10:Director22023-10-012024-09-3000679594ns10:RegisteredOffice2023-10-012024-09-3000679594ns5:CurrentFinancialInstruments2024-09-3000679594ns5:CurrentFinancialInstruments2023-09-3000679594ns5:Non-currentFinancialInstruments2024-09-3000679594ns5:Non-currentFinancialInstruments2023-09-3000679594ns5:ShareCapital2024-09-3000679594ns5:ShareCapital2023-09-3000679594ns5:RevaluationReserve2024-09-3000679594ns5:RevaluationReserve2023-09-3000679594ns5:RetainedEarningsAccumulatedLosses2024-09-3000679594ns5:RetainedEarningsAccumulatedLosses2023-09-3000679594ns5:PlantMachinery2023-09-3000679594ns5:PlantMachinery2023-10-012024-09-3000679594ns5:PlantMachinery2024-09-3000679594ns5:PlantMachinery2023-09-3000679594ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3000679594ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3000679594ns5:Non-currentFinancialInstruments2023-10-012024-09-30
REGISTERED NUMBER: 00679594 (England and Wales)















Oakover Holdings Limited

Financial Statements

for the Year Ended 30 September 2024






Oakover Holdings Limited (Registered number: 00679594)

Contents of the Financial Statements
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oakover Holdings Limited

Company Information
for the year ended 30 September 2024







Directors: J J Drewe
A P Drewe





Registered office: Oakover
Church Street
Ticehurst
East Sussex
TN5 7DL





Registered number: 00679594 (England and Wales)

Oakover Holdings Limited (Registered number: 00679594)

Balance Sheet
30 September 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 290 365
Investment property 5 4,793,694 4,793,694
4,793,984 4,794,059

Current assets
Debtors 6 22,268 17,961
Cash at bank 182,420 189,111
204,688 207,072
Creditors
Amounts falling due within one year 7 25,222 23,723
Net current assets 179,466 183,349
Total assets less current liabilities 4,973,450 4,977,408

Creditors
Amounts falling due after more than one
year

8

(1,186,627

)

(1,195,006

)

Provisions for liabilities (674,831 ) (674,831 )
Net assets 3,111,992 3,107,571

Capital and reserves
Called up share capital 18,500 18,500
Revaluation reserve 2,575,617 2,730,581
Retained earnings 517,875 358,490
3,111,992 3,107,571

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

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 directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Oakover Holdings Limited (Registered number: 00679594)

Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by:





A P Drewe - Director


Oakover Holdings Limited (Registered number: 00679594)

Notes to the Financial Statements
for the year ended 30 September 2024


1. Statutory information

Oakover Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Turnover represents amounts receivable for rents and services. Revenue is recognised for the term of the occupancy in the accounting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment properties are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company. The changes in fair value are recognised in the profit or loss account.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from the bank and other third parties, loans to related parties, and investment in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

Oakover Holdings Limited (Registered number: 00679594)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


4. Tangible fixed assets
Plant and
machinery
£
Cost
At 1 October 2023
and 30 September 2024 27,501
Depreciation
At 1 October 2023 27,136
Charge for year 75
At 30 September 2024 27,211
Net book value
At 30 September 2024 290
At 30 September 2023 365

5. Investment property
Total
£
Fair value
At 1 October 2023
and 30 September 2024 4,793,694
Net book value
At 30 September 2024 4,793,694
At 30 September 2023 4,793,694

The 2024 valuations were made by the directors on an open market value for existing use basis.

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 5,713 1,843
Other debtors 16,555 16,118
22,268 17,961

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 8,945 8,945
Trade creditors - 1,262
Taxation and social security 4,909 1,137
Other creditors 11,368 12,379
25,222 23,723

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 1,186,627 1,195,006

Oakover Holdings Limited (Registered number: 00679594)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


8. Creditors: amounts falling due after more than one year - continued

Details of security provided:

The Bounce Back Loan, with a total carried forward balance of £18,129, is secured by 100% government backed guarantee.

All other loans, being the remaining balance, are secured by a fixed and floating charge over the assets of the company and by first legal charge over some of the company's property included in the accounts at a valuation of £1,550,000.

9. Directors' advances, credits and guarantees

As at the year end, A Drewe owed £166(2023 - £292) to the company.

As at the year end, J Drewe owed £Nil (2023 £Nil) from/to the company.

The amounts advanced by the company to its directors are interest free and repayable on demand.