Oakwell Community Assets Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04916500 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

OAKWELL COMMUNITY ASSETS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Cllr R Frost

Mr M J M O'Neill

Mr N Copley

Mr R Franklin

Mr L Johnson

SECRETARY:

Barnsley Metropolital Borough Council

REGISTERED OFFICE:

Town Hall

Barnsley

South Yorkshire

S70 2TA

REGISTERED NUMBER:

04916500 (England and Wales)

AUDITOR:

Xeinadin Audit Limited

8th Floor, Beckett House

36 Old Jewry

London

EC2R 8DD

BANKERS:

Virgin Money

1A Peel Square

Barnsley

South Yorkshire

S70 2PL

FIXED ASSETS

Tangible assets

4

5,238,445

CURRENT ASSETS

Debtors

5

61,186

61,718

Cash at bank

2,190,588

522,187

2,251,774

583,905

CREDITORS

Amounts falling due within one year

6

246,851

249,002

NET CURRENT ASSETS

2,004,923

334,903

TOTAL ASSETS LESS CURRENT LIABILITIES

7,243,368

5,573,348

CREDITORS

Amounts falling due after more than one
year

7

3,033,980

980,000

NET ASSETS

4,209,388

4,593,348

CAPITAL AND RESERVES

Called up share capital

9

4,000,000

Retained earnings

209,388

593,348

SHAREHOLDERS' FUNDS

4,209,388

4,593,348

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 and authorised for issue by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:

Cllr R Frost - Director

1.	STATUTORY INFORMATION

Oakwell Community Assets 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates

No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover represents invoice charges for rent of land and buildings, excluding value added tax.

Rents are charged quarterly in advance and income is spread evenly over the period of rental.

Tangible fixed assets

Freehold land and buildings are included in the financial statements at cost.

Due to the strict rules relating to the standard of football stadiums used by football league clubs, the continual maintenance upkeep of the land and buildings is such that the estimated useful life is indefinite and the recoverable amount is considered to be high.

No depreciation has been charged to land and buildings as it is not considered that the depreciation charge itself or the accumulated depreciation are material. Regular impairment reviews are performed.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

As fair value cannot reliably be measured on investment property, no deferred tax has been provided.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

land and

buildings

£

COST

At 1 April 2024

and 31 March 2025

5,238,445

NET BOOK VALUE

At 31 March 2025

5,238,445

At 31 March 2024

5,238,445

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

60,000

VAT

1,113

-

Prepayments and accrued income

73

1,718

61,186

61,718

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

858

Corporation tax

-

18,804

VAT

-

8,282

Other creditors

-

101,906

Other loans

53,000

20,000

Accruals and deferred income

192,993

99,152

246,851

249,002

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Other loans - 1-2 years

53,000

10,000

Other loans - 2-5 years

159,000

30,000

Other loans more 5 yrs by

installments

2,322,000

440,000

Other loans more 5 yrs

non-installment

499,980

500,000

3,033,980

980,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5 yrs

non-installment

499,980

500,000

499,980

500,000

Repayable by instalments

Other loans more 5 yrs by

installments

2,322,000

440,000

2,322,000

440,000

8.	LEASING AGREEMENTS

Minimum lease payments receivable under non-cancellable operating leases, assuming rents remain at £100,000 per annum, fall due as follows:

31.03.25

31.03.24

£

Within one year

100,000

Between one and five years

400,000

In more than five years

380,548

580,548

880,548

1,080,548

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

2,000,000

Ordinary A

£1

2,000,000

Ordinary B

£1

2,000,000

4,000,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

Scott Mell (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

11.	RELATED PARTY DISCLOSURES

Other related parties

31.03.25

31.03.24

£

Amounts due to related parties

3,232,118

1,201,079

Interest charged by related parties

117,966

63,701

Amounts repaid to related parties

135,000

523,724

Amounts advanced by related parties

2,150,000

552,749