Oakwood Homes Estate Agents Limited Filleted accounts for Companies House (small and micro)

Oakwood Homes Estate Agents Limited Filleted accounts for Companies House (small and micro)

OAKWOOD HOMES ESTATE AGENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05155235
OAKWOOD HOMES ESTATE AGENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2019
OAKWOOD HOMES ESTATE AGENTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2019
2019
2018
Note
£
£
£
FIXED ASSETS
Intangible assets
5
256,661
216,665
Tangible assets
6
37,064
41,963
----------
----------
293,725
258,628
CURRENT ASSETS
Debtors
7
171,041
( 225,925)
Cash at bank and in hand
–
271
----------
----------
171,041
( 225,654)
CREDITORS: amounts falling due within one year
8
413,442
502,436
----------
----------
NET CURRENT LIABILITIES
242,401
728,090
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
51,324
( 469,462)
CREDITORS: amounts falling due after more than one year
9
253,463
264,014
----------
----------
NET LIABILITIES
( 202,139)
( 733,476)
----------
----------
CAPITAL AND RESERVES
Called up share capital
430,710
710
Profit and loss account
( 632,849)
( 734,186)
----------
----------
SHAREHOLDERS DEFICIT
( 202,139)
( 733,476)
----------
----------
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 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 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
OAKWOOD HOMES ESTATE AGENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2019
These financial statements were approved by the board of directors and authorised for issue on 17 September 2020 , and are signed on behalf of the board by:
A Dickinson
Director
Company registration number: 05155235
OAKWOOD HOMES ESTATE AGENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2019
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Stockwell House, Cecil Square, Margate, Kent, CT9 1BD.
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 accounts have been prepared on a going concern basis on the assumption of the continuing support of the directors and HSBC Bank Plc.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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
-
15% reducing balance
Fixtures and Fitting
-
15% reducing balance
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 16 (2018: 16 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 January 2019
216,665
Additions
–
Acquisitions through business combinations
39,996
----------
At 31 December 2019
256,661
----------
Amortisation
At 1 January 2019 and 31 December 2019
–
----------
Carrying amount
At 31 December 2019
256,661
----------
At 31 December 2018
216,665
----------
6. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2019 and 31 December 2019
82,178
117,142
199,320
---------
----------
----------
Depreciation
At 1 January 2019
68,124
89,233
157,357
Charge for the year
2,108
2,791
4,899
---------
----------
----------
At 31 December 2019
70,232
92,024
162,256
---------
----------
----------
Carrying amount
At 31 December 2019
11,946
25,118
37,064
---------
----------
----------
At 31 December 2018
14,054
27,909
41,963
---------
----------
----------
7. DEBTORS
2019
2018
£
£
Trade debtors
29,194
32,529
Amounts owed by group undertakings and undertakings in which the company has a participating interest
166,871
( 241,690)
Other debtors
( 25,024)
( 16,764)
----------
----------
171,041
( 225,925)
----------
----------
8. CREDITORS: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
138,281
91,086
Trade creditors
52,540
53,024
Social security and other taxes
70,598
131,034
Other creditors
152,023
227,292
----------
----------
413,442
502,436
----------
----------
HSBC hold a debenture over the assets of Oakwood Homes Estate Agents Ltd in relation to the bank loans and overdraft facility.
9. CREDITORS: amounts falling due after more than one year
2019
2018
£
£
Bank loans and overdrafts
253,463
264,014
----------
----------
10. RELATED PARTY TRANSACTIONS
During the year the company entered into transactions with several related parties: R & D Associates is a partnership between Mr A Dickinson and Mr H Retallick. The company also entered into transactions with several companies of which Mr A Dickinson and Mr H Retallick are directors and shareholders: Acorn Financial Services (South East) Ltd Alpha Property Group Ltd Hot Property Associates Ltd Thanet Property Company Limited Living Stones Homes Ltd