Oakburn Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00634063 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2022

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

6,300,272

6,303,549

Investments

5

6,005,506

6,005,506

12,305,778

12,309,055

CURRENT ASSETS

Debtors

6

2,960,817

2,010,375

Investments

7

7,000

7,000

Cash at bank

693,514

412,405

3,661,331

2,429,780

CREDITORS

Amounts falling due within one year

8

9,914,942

5,709,900

NET CURRENT LIABILITIES

(6,253,611

)

(3,280,120

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,052,167

9,028,935

CREDITORS

Amounts falling due after more than one year

9

-

(2,532,727

)

PROVISIONS FOR LIABILITIES

(924,977

)

(924,977

)

NET ASSETS

5,127,190

5,571,231

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

3,046,515

3,490,556

SHAREHOLDERS' FUNDS

5,127,190

5,571,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 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 23rd September 2023 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 (2021 - 4 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Long

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1st January 2022

6,300,000

31,010

8,065

6,339,075

Disposals

-

-

(6,766

)

(6,766

)

At 31st December 2022

6,300,000

31,010

1,299

6,332,309

DEPRECIATION

At 1st January 2022

-

31,009

4,517

35,526

Charge for year

-

-

324

324

Eliminated on disposal

-

-

(3,813

)

(3,813

)

At 31st December 2022

-

31,009

1,028

32,037

NET BOOK VALUE

At 31st December 2022

6,300,000

1

271

6,300,272

At 31st December 2021

6,300,000

1

3,548

6,303,549

Cost or valuation at 31st December 2022 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

1,299

1,464,009

6,300,000

31,010

1,299

6,332,309

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

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2022

and 31st December 2022

6,006,506

PROVISIONS

At 1st January 2022

and 31st December 2022

1,000

NET BOOK VALUE

At 31st December 2022

6,005,506

At 31st December 2021

6,005,506

6.

DEBTORS

2022

2021

£

£

Amounts falling due within one year:

Trade debtors

36,084

34,109

Other debtors

1,185,620

237,153

1,221,704

271,262

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,739,113

1,739,113

Aggregate amounts

2,960,817

2,010,375

7.	CURRENT ASSET INVESTMENTS

2022

2021

£

£

Other investments

7,000

7,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

-

42,955

Trade creditors

13,176

10,191

Amounts owed to group undertakings

9,737,033

5,491,861

Taxation and social security

38,985

27,680

Other creditors

125,748

137,213

9,914,942

5,709,900

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

-

2,532,727

10.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

-

2,575,682