Oakendale Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02902682 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

FOR

OAKENDALE DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

Mr S R Bennett

SECRETARY:

Mrs J P Bennett

REGISTERED OFFICE:

Ground Floor

Custom House

Waterfront East

Brierley Hill

West Midlands

DY5 1XH

REGISTERED NUMBER:

02902682 (England and Wales)

ACCOUNTANTS:

Poole Waterfield Limited

Ground Floor

Custom House

Waterfront East

Brierley Hill

West Midlands

DY5 1XH

BANKERS:

TSB Bank Plc

The Merry Hill Centre

Brierley Hill

West Midlands

DY5 1SY

FIXED ASSETS

Tangible assets

4

344,203

344,670

CURRENT ASSETS

Stocks

131,038

131,038

Debtors

5

742

1,373

Cash at bank

4,156

1,651

135,936

134,062

CREDITORS

Amounts falling due within one year

6

95,327

106,944

NET CURRENT ASSETS

40,609

27,118

TOTAL ASSETS LESS CURRENT LIABILITIES

384,812

371,788

PROVISIONS FOR LIABILITIES

7

799

934

NET ASSETS

384,013

370,854

CAPITAL AND RESERVES

Called up share capital

8

100

100

Revaluation reserve

87,587

87,587

Retained earnings

296,326

283,167

SHAREHOLDERS' FUNDS

384,013

370,854

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 25 June 2021 and were signed by:

Mr S R Bennett - Director

1.	STATUTORY INFORMATION

Oakendale Developments 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.

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

-

10% on reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Investment properties

The company's investment properties have not been depreciated and have been disclosed in the financial statements at valuation under the terms of Section 1A of Financial Reporting Standard 102.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 July 2019

and 30 June 2020

340,000

15,475

355,475

DEPRECIATION

At 1 July 2019

-

10,805

10,805

Charge for year

-

467

467

At 30 June 2020

-

11,272

11,272

NET BOOK VALUE

At 30 June 2020

340,000

4,203

344,203

At 30 June 2019

340,000

4,670

344,670

Cost or valuation at 30 June 2020 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2015

340,000

13,950

353,950

Valuation in 2017

-

1,525

1,525

340,000

15,475

355,475

If the freehold properties had not been revalued they would have been included at the following historical cost:

30.6.20

30.6.19

£

£

Cost

252,413

252,413

Aggregate depreciation

67,677

63,029

Freehold properties were valued on an open market basis basis on 30 June 2020 by the director .

If the properties were sold at the values shown in the accounts the estimated tax liabilities arising on the sales would be £2,993 (2019 - £2,993).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

200

479

Other debtors

542

894

742

1,373

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Taxation and social security

3,165

1,695

Other creditors

92,162

105,249

95,327

106,944

7.	PROVISIONS FOR LIABILITIES

30.6.20

30.6.19

£

£

Deferred tax

799

934

Deferred

tax

£

Balance at 1 July 2019

934

Utilised during year

(135

)

Accelerated capital allowances

Balance at 30 June 2020

799

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.20

30.6.19

value:

£

£

100

Ordinary

£1

100

100

The company also has 50 Ordinary B Shares of £1 each in issue (2019 - 50). These are redeemable by the company at par and are shown in other creditors.