Accounts filed on 31-12-2013

trueOakrise Limited040237092013-12-31202910139687-219806-283029100100-422816-422816-219806-2830293342265341726531224593134236-108541-9676412660411093518063141711090710510715636613231000323100032310003231000Basis of accounting The financial statements have been prepared under the historical cost convention, modified to include the revaluation of Investment properties, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Turnover The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. Investment properties Freehold and leasehold properties which are held for long term investment are accounted for as investment properties in accordance with Statement of Standard Accounting Practice No 19. Accordingly, the investment properties are revalued annually and any surpluses or deficits are transferred to a revaluation reserve. In the case of permanent impairments in the value of the investment properties, any deficit below cost is taken to the profit and loss account of the financial year. No depreciation is provided in respect of freehold investment properties. No amortisation is provided in respect of of leasehold investment properties where the unexpired remaining term of the lease is more than twenty years. Although the Companies Act would normally require the systematic annual depreciation and amortisation of all fixed assets, the director believes that the policy of not providing depreciation and amortisation on freehold and leasehold investment properties is necessary in order for the financial statements to give a true and fair view, since the current values of the investment properties, and changes to those current values, are of prime importance rather than a calculation of systematic annual depreciation and amortisation. Depreciation and amortisation are only two of many factors reflected in the annual valuation, and the amounts which might otherwise have been shown cannot be separately identified or quantified. Deferred taxation Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date Fixed Assets All fixed assets are initially recorded at cost. Financial Instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company uses interest rate swaps to manage its interest rate exposure. 32310003231000In 2012, the investment properties were revalued to £3,231,000 by Aitchison Raffety Chartered Surveyors, an independent firm of property consultants, on an open market basis. 32310003231000 In 2012, the investment properties were revalued to £3,231,000 by Aitchison Raffety Chartered Surveyors, an independent firm of property consultants, on an open market basis. Ordinary1000110001000Ordinary11001001002014-08-12Mr J Maldetruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureOakrise Limited2013-01-012013-12-31Oakrise Limited2012-01-012012-12-31Oakrise Limited2011-12-31Oakrise Limited2012-12-31Oakrise Limited2012-12-31Oakrise Limited2013-12-31 2014-09-16