Oakham Place Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03272180 (England and Wales)

OAKHAM PLACE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Mrs M R Ciarlo

SECRETARY:

Ms D R Ciarlo

REGISTERED OFFICE:

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

REGISTERED NUMBER:

03272180 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

FIXED ASSETS

Investment property

4

400,000

400,000

CURRENT ASSETS

Cash at bank

5,205

14,638

CREDITORS

Amounts falling due within one year

5

111,732

130,790

NET CURRENT LIABILITIES

(106,527

)

(116,152

)

TOTAL ASSETS LESS CURRENT LIABILITIES

293,473

283,848

PROVISIONS FOR LIABILITIES

4,587

6,000

NET ASSETS

288,886

277,848

CAPITAL AND RESERVES

Called up share capital

6

2

2

Revaluation reserve

7

182,745

187,160

Retained earnings

106,139

90,686

SHAREHOLDERS' FUNDS

288,886

277,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 11 May 2020 and were signed by:

Mrs M R Ciarlo - Director

1.	STATUTORY INFORMATION

Oakham Place 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 presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

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 1 (2018 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2018

400,000

Additions

6,828

Revaluations

(6,828

)

At 31 October 2019

400,000

NET BOOK VALUE

At 31 October 2019

400,000

At 31 October 2018

400,000

Fair value at 31 October 2019 is represented by:

£

Valuation in 2015

205,840

Valuation in 2016

194,160

400,000

If investment property had not been revalued it would have been included at the following historical cost:

2019

2018

£

£

Cost

212,668

205,840

Investment properties were valued on an open market basis on 15 March 2019 by Murray, Independent

Chartered Surveyors, Auctioneers, Estate Agents and Valuers. The methods and assumptions used to ascertain

the fair values are as follows:

The valuations were prepared having regard to the market based evidence for similar properties sold in the

local area, taking into account the condition of the property.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation

4,329

4,447

Other taxes and social security

618

945

Directors' current accounts

105,492

124,233

Accrued expenses

1,293

1,165

111,732

130,790

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

2

Ordinary

£1

2

2

7.

RESERVES

Revaluation

reserve

£

At 1 November 2018

187,160

Property revaluation

(4,415

)

At 31 October 2019

182,745

8.	RELATED PARTY DISCLOSURES

From time to time the director provides financing loans to the company as disclosed in creditors (Directors'

current accounts). These loans are interest free and repayable on demand. The balance outstanding at the

year end was £105,492 (2018: £124,233).