Oakburn Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00634063 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

OAKBURN PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S A Blausten

D Blausten

SECRETARY:

S A Blausten

REGISTERED OFFICE:

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

REGISTERED NUMBER:

00634063 (England and Wales)

FIXED ASSETS

Property, plant and equipment

4

6,303,221

6,301,015

Investments

5

6,005,506

6,005,506

12,308,727

12,306,521

CURRENT ASSETS

Debtors

6

1,988,793

1,971,988

Investments

7

7,000

7,000

Cash at bank

372,703

298,487

2,368,496

2,277,475

CREDITORS

Amounts falling due within one year

8

4,563,702

3,932,387

NET CURRENT LIABILITIES

(2,195,206

)

(1,654,912

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,113,521

10,651,609

CREDITORS

Amounts falling due after more than one year

9

(2,607,898

)

(2,650,852

)

PROVISIONS FOR LIABILITIES

(924,977

)

(924,977

)

NET ASSETS

6,580,646

7,075,780

CAPITAL AND RESERVES

Called up share capital

941,968

941,968

Share premium

833,465

833,465

Capital redemption reserve

305,242

305,242

Retained earnings

4,499,971

4,995,105

SHAREHOLDERS' FUNDS

6,580,646

7,075,780

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

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

The directors acknowledge their 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 by the Board of Directors and authorised for issue on 29 September 2020 and were signed on its behalf by:

S A Blausten - Director

1.	STATUTORY INFORMATION

Oakburn Properties 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.

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 represents net invoiced rental income, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

not provided

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange

ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at

the rate of exchange ruling at the date of transaction. Exchange differences are taken into account

in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Long

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2019

6,300,000

31,010

2,941

6,333,951

Additions

-

-

2,725

2,725

At 31 December 2019

6,300,000

31,010

5,666

6,336,676

DEPRECIATION

At 1 January 2019

-

31,009

1,927

32,936

Charge for year

-

-

519

519

At 31 December 2019

-

31,009

2,446

33,455

NET BOOK VALUE

At 31 December 2019

6,300,000

1

3,220

6,303,221

At 31 December 2018

6,300,000

1

1,014

6,301,015

Cost or valuation at 31 December 2019 is represented by:

Fixtures

Long

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

Valuation in 2018

1,300,000

-

-

1,300,000

Valuation in 2016

3,568,300

-

-

3,568,300

Cost

1,431,700

31,010

5,666

1,468,376

6,300,000

31,010

5,666

6,336,676

The long leasehold was valued on an open market basis on 3 July 2018 by Messrs Allsop LLP .

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2019

and 31 December 2019

6,006,506

PROVISIONS

At 1 January 2019

and 31 December 2019

1,000

NET BOOK VALUE

At 31 December 2019

6,005,506

At 31 December 2018

6,005,506

6.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

3,789

7,732

Other debtors

245,891

243,874

249,680

251,606

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,739,113

1,720,382

Aggregate amounts

1,988,793

1,971,988

7.	CURRENT ASSET INVESTMENTS

2019

2018

£

£

Other investments

7,000

7,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

42,955

42,955

Trade creditors

13,047

16,785

Amounts owed to group undertakings

4,373,379

3,743,449

Taxation and social security

25,361

2,084

Other creditors

108,960

127,114

4,563,702

3,932,387

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

2,607,898

2,650,852

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

2,650,853

2,693,807