Company registration number 14012468 (England and Wales)
WILLOW WALK HOMES (OAK LANE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WILLOW WALK HOMES (OAK LANE) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
WILLOW WALK HOMES (OAK LANE) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
4
1,203,586
1,153,835
Debtors
5
1,766
20,253
Cash at bank and in hand
-
0
6,593
1,205,352
1,180,681
Creditors: amounts falling due within one year
6
(1,525,819)
(1,350,797)
Net current liabilities
(320,467)
(170,116)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(320,468)
(170,117)
Total equity
(320,467)
(170,116)

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

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 September 2025 and are signed on its behalf by:
Mr N Hoar
Director
Company registration number 14012468 (England and Wales)
WILLOW WALK HOMES (OAK LANE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Willow Walk Homes (Oak Lane) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 28 Austin Friars, London, EC2N 2QQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on the going concern basis not withstanding net current liabilities at 31 December 2024. The directors and shareholder will continue to support the company and enable it to meet its liabilities as they fall due.

If this basis were found not to be appropriate assets and liabilities would have to be restated on a break up basis which would not be materially different.

1.3
Stocks

Stocks and developments in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks and developments in progress to their present location and condition.

Stocks and developments in progress held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks and developments in progress over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

WILLOW WALK HOMES (OAK LANE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

WILLOW WALK HOMES (OAK LANE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
1
WILLOW WALK HOMES (OAK LANE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Stocks
2024
2023
£
£
Developments in progress
1,203,586
1,153,835
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
-
0
3,139
Other debtors
1,766
17,114
1,766
20,253
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
367
1,732
Amounts owed to group undertakings
1,521,420
199,817
Other creditors
4,032
1,149,248
1,525,819
1,350,797
7
Related party transactions

During the year the company was charged £6,249 (202 3 - £16,923) by its parent undertaking, Willow Walk Group Limited for services provided and is included with in other creditors. At 31 December 2024 the company owed £1,521,420 (202 3 - £198,367) to Willow Walk Group Limited, This amount is unsecured and repayable on demand. During the year the company was charged interest of £101,295 (202 3 - £9,093) at a rate of 5% above the Bank of England base rate.

At 31 December 2024 the company was owed £0 (202 3 - £739) by Willow Walk Homes (Thurston) Limited, a group undertaking incorporated in the United Kingdom. This amount is unsecured, interest free and repayable on demand.

At 31 December 202 4 the company was owed £0 (202 3 - £2,40 0) by Willow Walk Homes (Stowupland) Limited, a group undertaking incorporated in the United Kingdom. This amount is unsecured, interest free and repayable on demand.

At 31 December 202 4 the company owed £0 (202 3 - £1,45 0) to Willow Walk Homes (Construction) Limited, a related undertaking incorporated in the United Kingdom. This amount is unsecured, interest free and repayable on demand.

At 31 December 2024 the company owed £0 (202 3 - £774,271) to Wiltshire Holdings Limited, a company incorporated in Hong Kong in which the director Mr N Hoar is also a director and shareholder, This amount is unsecured and repayable on demand. During the year the company was charged interest of £27,978 (202 3 - £99,271) at a rate of 5% above the Bank of England base rate.

WILLOW WALK HOMES (OAK LANE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
8
Directors' transactions

Dividends totalling £0 (2023 - £0) were paid in the year in respect of shares held by the company's directors.

During the year the company was charged £5,187 (202 3 - £8,575) by the director Mr J Gruby for services provided to the company.

Included within other creditors is £0 (202 3 - £289,819) owed by the company to the director Mr N Hoar. This amount is unsecured and repayable on demand. During the year the company was charged interest of £11,231 (202 3 - £38,013) at a rate of 5% above the Bank of England base rate.

Description
% Rate
Opening balance
Interest charged
Amounts repaid
Closing balance
£
£
£
£
Mr N Hoar - director
-
289,819
11,231
(301,050)
-
289,819
11,231
(301,050)
-
9
Controlling party

The parent undertaking is Willow Walk Group Limited, a company incorporated in the United Kingdom.

The ultimate controlling party is the director Mr N Hoar.

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