Oakstone Developments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02073117

Oakstone Developments Limited

Filleted Unaudited Financial Statements

31 December 2025

Oakstone Developments Limited

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	236,824	273,859

Current assets

Debtors	7	3,284,791	2,676,604
Cash at bank and in hand		454,062	684,671
		------------	------------
		3,738,853	3,361,275

Creditors: amounts falling due within one year	8	1,956,691	1,744,600
		------------	------------
Net current assets		1,782,162	1,616,675
		------------	------------
Total assets less current liabilities		2,018,986	1,890,534

Creditors: amounts falling due after more than one year	9	–	4,830

Provisions	58,065	67,791
	------------	------------
Net assets	1,960,921	1,817,913
	------------	------------

Capital and reserves

Called up share capital	1,500	1,500
Other reserves	100	–
Profit and loss account	1,959,321	1,816,413
	------------	------------
Shareholders funds	1,960,921	1,817,913
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have 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 Act with respect to accounting records and the preparation of financial statements .

Oakstone Developments Limited

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 23 September 2026 , and are signed on behalf of the board by:

Mr A Phillips

Director

Company registration number: 02073117

Oakstone Developments Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Malt Kiln, Bolton Road, Addingham, Ilkley, LS29 0NQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Employee ownership trust

Oakstone Employee Ownership Trust has been established with the object of ensuring that shares in the company are held for the benefit of the company's employees and that the eligible employees shall have an interest in the company's business.

Revenue recognition

The turnover shown in the profit and loss account is the revenue from the performance of the exchange of transactions from the supply of construction work during the year, exclusive of value added tax. In respect of long-term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Group keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and alter the modification, is also charged to profit or loss over the remaining vesting period. Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 19 (2024: 19 ).

5. Staff costs

During the year the company incurred payroll expenses totalling £48,818 (2024: £31,450) on behalf of the Oakstone Employee Ownership Trust.

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2025	59,381	29,838	414,021	28,858	532,098
Additions	13,009	–	70,381	5,210	88,600
Disposals	–	–	( 66,494)	( 2,203)	( 68,697)
	--------	--------	---------	--------	---------
At 31 December 2025	72,390	29,838	417,908	31,865	552,001
	--------	--------	---------	--------	---------
Depreciation
At 1 January 2025	57,563	21,835	159,275	19,566	258,239
Charge for the year	1,532	2,009	66,447	4,766	74,754
Disposals	–	–	( 15,614)	( 2,202)	( 17,816)
	--------	--------	---------	--------	---------
At 31 December 2025	59,095	23,844	210,108	22,130	315,177
	--------	--------	---------	--------	---------
Carrying amount
At 31 December 2025	13,295	5,994	207,800	9,735	236,824
	--------	--------	---------	--------	---------
At 31 December 2024	1,818	8,003	254,746	9,292	273,859
	--------	--------	---------	--------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	1,777,792	1,312,708
Amounts owed by group undertakings and undertakings in which the company has a participating interest	712,552	102,552
Other debtors	794,447	1,261,344
	------------	------------
	3,284,791	2,676,604
	------------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	896,022	694,606
Corporation tax	205,868	211,539
Social security and other taxes	601,855	638,421
Other creditors	252,946	200,034
	------------	------------
	1,956,691	1,744,600
	------------	------------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	–	4,830
	----	-------

10. Share-based payments

The ultimate parent company, Phillips Special Projects Limited, has granted share-based options to certain employees and directors of the company. The options form part of an EMI share option plan and can only be exercised on the sale or listing of the Group. The maximum term of an option is 5 years from the date of grant and all options must be settled in equity.

The total expense recognised in profit or loss for the year is as follows:

	2025	2024
	£	£
Equity-settled share-based payments	100	–
	----	----

Details of the number of share options and exercise price outstanding during the year are as follows:

			2025	2024

Exercise price (£)			19.51	-

Grant date	23/01/2025	-
Expiry date	22/01/2030	-

			2025	2024
			Number	Number

Outstanding at start of year	-	-
Issued in year	62	-
Lapsed in year	-	-
Outstanding at end of year	62	-

Whilst the shares options have been granted in the ultimate parent company, the relevant cost of these options has been recognised in the company to reflect the services provided by respective employees / directors to which these options relate. The options have been valued using the Blacks Scholes method, using the following assumptions:

			2025	2024

Number of instruments granted			62	-

Grant date	23/01/2025	-
Expiry date	22/01/2030	-
Contract term (years)	5	-

Exercise price (£)	19.51	-
Share price at granting (£)	19.51	-
Annual risk free rate (%)	4.34	-
Volatility (%)	50.00	-
Fair value of instrument (£)	8.59	-

The above variables are based on an analysis of the parent company's history and an analysis of similar entities in the industry.

11. Directors' advances, credits and guarantees

There were no movements to the Directors Loan Accounts during the year.

12. Related party transactions

Future gifts will be made at the discretion of the company Directors based on available cashflows and the performance of the business.

13. Controlling party

The company is controlled by Phillips Special Projects Limited who is under the control of Oakstone Trustees Limited, being the trustee of Oakstone Employee Ownership Trust.