Company Registration No. 10672930 (England and Wales)
CORNER OAK HOMES LTD
Unaudited accounts
for the year ended 31 March 2025
CORNER OAK HOMES LTD
Unaudited accounts
Contents
CORNER OAK HOMES LTD
Company Information
for the year ended 31 March 2025
Directors
Andrew Sullivan
Jennifer Bundy
Company Number
10672930 (England and Wales)
Registered Office
Corner Oak, Old Wood
Skellingthorpe
Lincoln
Lincolnshire
LN6 0PL
United Kingdom
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Templar Accounting & Business Support
Services Limited (Incorp: Blake and Co )
112 - 113 High Street,
Lincoln, Lincolnshire
LN5 7PY
CORNER OAK HOMES LTD
Statement of financial position
as at 31 March 2025
Tangible assets
746,134
330,418
Investment property
257,482
257,482
Cash at bank and in hand
42,555
164,206
Creditors: amounts falling due within one year
(14,356)
(20,860)
Net current assets
29,478
144,196
Total assets less current liabilities
1,033,094
732,096
Creditors: amounts falling due after more than one year
-
(568,597)
Provisions for liabilities
Deferred tax
(13,933)
(13,933)
Net assets
1,019,161
149,566
Called up share capital
2
2
Capital contribution reserve
981,800
90,000
Profit and loss account
37,359
59,564
Shareholders' funds
1,019,161
149,566
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by
Andrew Sullivan
Director
Company Registration No. 10672930
CORNER OAK HOMES LTD
Notes to the Accounts
for the year ended 31 March 2025
CORNER OAK HOMES LTD is a private company, limited by shares, registered in England and Wales, registration number 10672930. The registered office is Corner Oak, Old Wood, Skellingthorpe, Lincoln, Lincolnshire, LN6 0PL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0% Reducing balance
Plant & machinery
20% Reducing balance
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The accounts are presented in £ sterling.
CORNER OAK HOMES LTD
Notes to the Accounts
for the year ended 31 March 2025
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
CORNER OAK HOMES LTD
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2024
311,500
39,928
351,428
Additions
419,500
-
419,500
At 31 March 2025
731,000
39,928
770,928
At 1 April 2024
-
21,010
21,010
Charge for the year
-
3,784
3,784
At 31 March 2025
-
24,794
24,794
At 31 March 2025
731,000
15,134
746,134
At 31 March 2024
311,500
18,918
330,418
Purchase of:
Wain Well Mews
Lincoln
LN2 4BF for: £311,500
Purchase of:
18 Glenwood Grove
Lincoln for: £78,656
Purchase of:
38 Hunt Lea Ave
Lincoln for: £199,263
Purchase of:
23 Camwood Cres
Lincoln for: £141,581
To date revaluations have not been carried on out as at the end of this financial period.
Fair value at 1 April 2024
257,482
Tattershall Lakes - Away Resorts Static Home.
ABI TriBeCa (44x14x2) New Serial number: 1880033
WS25 Water Ski Lake, Tattershall Park, Sleaford Road, Tattershall, Lincolnshire
(Also known as: 4 Merlin Point)
CORNER OAK HOMES LTD
Notes to the Accounts
for the year ended 31 March 2025
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
-
13,493
Trade creditors
1,752
1,692
Loans from directors
11,884
5,675
8
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
-
6,797
9
Deferred taxation
2025
2024
Accelerated capital allowances
13,933
13,933
Provision at start of year
13,933
6,680
Charged to the profit and loss account
-
7,253
Provision at end of year
13,933
13,933
A deferred taxation reserve has been created due to accelerated capital allowances of some £13,933
This reserve will reverse in future periods creating a tax liability at the prevailing rate on the day.
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
11
Average number of employees
During the year the average number of employees was 2 (2024: 2).