Oakbridge Development & Construction Com - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00795813 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

FOR

OAKBRIDGE DEVELOPMENT & CONSTRUCTION

COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs M L Gold

G S Gold

A R Gold

SECRETARY:

M Gold

REGISTERED OFFICE:

28 Highview Gardens

Edgware

Middlesex

HA8 9UE

REGISTERED NUMBER:

00795813 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

Paddington

London

W2 1HY

FIXED ASSETS

Tangible assets

4

33

44

CURRENT ASSETS

Stocks

462,823

462,823

Cash at bank

727,155

426,147

1,189,978

888,970

CREDITORS

Amounts falling due within one year

5

543,193

252,349

NET CURRENT ASSETS

646,785

636,621

TOTAL ASSETS LESS CURRENT LIABILITIES

646,818

636,665

CAPITAL AND RESERVES

Called up share capital

215,000

215,000

Retained earnings

431,818

421,665

SHAREHOLDERS' FUNDS

646,818

636,665

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 May 2022 and were signed on its behalf by:

Mrs M L Gold - Director

1.	STATUTORY INFORMATION

Oakbridge Development & Construction Company 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.

Tangible fixed assets

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

Fixtures and fittings

-

25% reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Stocks

The company holds stock which comprises of property held for development along with costs attributable to those development activities. The stock is stated at cost less impairment costs.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other debtors and other creditors.

The basic financial instruments are initially recognised at transaction price and subsequently carried at amortised cost.

Taxation

Taxation for the year comprises current tax only. 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 June 2020

and 31 May 2021

7,756

11,041

18,797

DEPRECIATION

At 1 June 2020

7,712

11,041

18,753

Charge for year

11

-

11

At 31 May 2021

7,723

11,041

18,764

NET BOOK VALUE

At 31 May 2021

33

-

33

At 31 May 2020

44

-

44

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Taxation and social security

2,381

3,681

Other creditors

540,812

248,668

543,193

252,349

6.	RELATED PARTY DISCLOSURES

During the year a director made loans to the company totalling £291,584 (2020 the company made loan repayments to a director totalling £360,447). As at 31 May 2021 the company owed the Director £537,464 (2020 £245,880). No interest is payable on this loan and the loan is repayable on demand.