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

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

OAKHAM PLACE LIMITED - Company Information

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REGISTERED NUMBER: 03272180 (England and Wales)















OAKHAM PLACE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020






OAKHAM PLACE LIMITED (REGISTERED NUMBER: 03272180)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


OAKHAM PLACE LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2020







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
Page 1
OAKHAM PLACE LIMITED (REGISTERED NUMBER: 03272180)


STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 194 -
Investment property 5 400,000 400,000
400,194 400,000

CURRENT ASSETS
Cash at bank 7,422 5,205

CREDITORS
Amounts falling due within one year 6 97,630 111,732
NET CURRENT LIABILITIES (90,208 ) (106,527 )
TOTAL ASSETS LESS CURRENT LIABILITIES 309,986 293,473

PROVISIONS FOR LIABILITIES 5,164 4,587
NET ASSETS 304,822 288,886

CAPITAL AND RESERVES
Called up share capital 7 2 2
Revaluation reserve 8 182,745 182,745
Retained earnings 122,075 106,139
SHAREHOLDERS' FUNDS 304,822 288,886

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 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 notes form part of these financial statements

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OAKHAM PLACE LIMITED (REGISTERED NUMBER: 03272180)


STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2020


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 director and authorised for issue on 29 April 2021 and were signed by:





Mrs M R Ciarlo - Director


The notes form part of these financial statements

Page 3
OAKHAM PLACE LIMITED (REGISTERED NUMBER: 03272180)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020

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.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Property, plant and equipment is stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the Income Statement and the revaluation reserve. No depreciation is provided in respect of investment properties.

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.

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OAKHAM PLACE LIMITED (REGISTERED NUMBER: 03272180)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2020

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
Additions 291
At 31 October 2020 291
DEPRECIATION
Charge for year 97
At 31 October 2020 97
NET BOOK VALUE
At 31 October 2020 194

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2019
and 31 October 2020 400,000
NET BOOK VALUE
At 31 October 2020 400,000
At 31 October 2019 400,000

Fair value at 31 October 2020 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:

2020 2019
£    £   
Cost 212,668 212,668

Page 5 continued...
OAKHAM PLACE LIMITED (REGISTERED NUMBER: 03272180)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2020

5. INVESTMENT PROPERTY - continued

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.

The property has not be revalued since that time.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Taxation 4,297 4,329
Other taxes and social security 830 618
Directors' current accounts 90,590 105,492
Accrued expenses 1,913 1,293
97,630 111,732

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
2 Ordinary 2 2 2

8. RESERVES
Revaluation
reserve
£   
At 1 November 2019
and 31 October 2020 182,745

9. 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 £90,590 (2019: £105,492).

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