Company Registration No. 10672930 (England and Wales)
CORNER OAK HOMES LTD
Unaudited accounts
for the year ended 31 March 2020
CORNER OAK HOMES LTD
Unaudited accounts
Contents
CORNER OAK HOMES LTD
Company Information
for the year ended 31 March 2020
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 ACPA, CPAA, FIAB, ACCA/CertIFR, IFRS, IPSAS, IA
Alchemy AAA Certified Public Accountants
Big Barn, East Farm, Atterby,
Market Rasen
Lincolnshire
LN8 2BJ
CORNER OAK HOMES LTD
Statement of financial position
as at 31 March 2020
Tangible assets
4,742
3,687
Investment property
97,482
97,482
Cash at bank and in hand
148
5,723
Creditors: amounts falling due within one year
(31,035)
(25,569)
Net current liabilities
(30,887)
(19,846)
Total assets less current liabilities
71,337
81,323
Creditors: amounts falling due after more than one year
(43,000)
(53,750)
Called up share capital
2
2
Capital contribution reserve
30,000
30,000
Profit and loss account
(1,665)
(2,429)
Shareholders' funds
28,337
27,573
For the year ending 31 March 2020 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 22 July 2020 and were signed on its behalf by
Jennifer Bundy
Director
Company Registration No. 10672930
CORNER OAK HOMES LTD
Notes to the Accounts
for the year ended 31 March 2020
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:
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 2020
4
Tangible fixed assets
Plant & machinery
Fair value at 1 April 2019
97,482
Tattershall Lakes - Away Resorts Static Home.
ABI TriBeCa (44x14x2) New Serial number: 1880033
6
Creditors: amounts falling due within one year
2020
2019
Obligations under finance leases and hire purchase contracts
10,750
10,750
Loans from directors
17,093
11,279
Deferred income
2,652
3,000
7
Creditors: amounts falling due after more than one year
2020
2019
Obligations under finance leases and hire purchase contracts
43,000
53,750
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Average number of employees
During the year the average number of employees was 0 (2019: 0).
