Oakside Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07132360 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2020

FOR

OAKSIDE ESTATES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J J Devereux

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

07132360 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investment property

4

2,800,000

3,150,000

CURRENT ASSETS

Stocks

5

-

175,010

Debtors

6

270,000

-

Cash at bank

6,140

10,657

276,140

185,667

CREDITORS

Amounts falling due within one year

7

348,616

433,048

NET CURRENT LIABILITIES

(72,476

)

(247,381

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,727,524

2,902,619

CREDITORS

Amounts falling due after more than one year

8

(534,000

)

(585,000

)

PROVISIONS FOR LIABILITIES

9

(248,256

)

(261,095

)

NET ASSETS

1,945,268

2,056,524

CAPITAL AND RESERVES

Called up share capital

10

8

8

Retained earnings

11

1,945,260

2,056,516

SHAREHOLDERS' FUNDS

1,945,268

2,056,524

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 April 2020 and were signed by:

Mr J J Devereux - Director

1.	STATUTORY INFORMATION

Oakside Estates Ltd 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.

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.

Turnover

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

tax and other sales taxes.

Turnover represents net sale proceeds of properties.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value

is recognised in profit or loss.

Stocks - works in progress

Work in progress (WIP) is stated at the lower of cost and net realisable value, being the estimated selling price less costs to

complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Costs include include labour and

attributable overheads.

At each reporting date, WIP is assessed for impairment. If an impairment is identified, the carrying amount is reduced to its

selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained

Earnings, 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.

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 (2019 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2019

3,150,000

Disposals

(274,476

)

Revaluations

(75,524

)

At 31 January 2020

2,800,000

NET BOOK VALUE

At 31 January 2020

2,800,000

At 31 January 2019

3,150,000

Fair value at 31 January 2020 is represented by:

£

Valuation in 2018

1,753,524

Valuation in 2019

(75,524

)

Cost

1,122,000

2,800,000

5.

STOCKS

31.1.20

31.1.19

£

£

Stocks

-

175,010

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Other debtors

270,000

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Tax

-

10,014

Other creditors

84,511

134,170

Shareholder's loan

259,305

-

Directors' current accounts

-

284,064

Accrued expenses

4,800

4,800

348,616

433,048

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.20

31.1.19

£

£

Bank loans more 5 yrs non-inst

534,000

585,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

534,000

585,000

9.	PROVISIONS FOR LIABILITIES

31.1.20

31.1.19

£

£

Deferred tax

248,256

261,095

Deferred

tax

£

Balance at 1 February 2019

261,095

Provided during year

(12,839

)

Balance at 31 January 2020

248,256

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.20

31.1.19

value:

£

£

2

Ordinary shares

£1

8

8

11.

RESERVES

31.01.20

31.01.19

£

£

Distributable reserves

515,576

564,087

Non-distributable reserves

1,429,744

1,492,429

At 31 January

1,945,320

2,056,516