North Oak Holdings Limited

NORTH OAK HOLDINGS LIMITED - Company Information

2021-02-012022-01-312022-01-31false06455479North Oak Holdings Limited2022-10-31iso4217:GBPxbrli:pure064554792021-02-01064554792022-01-31064554792021-02-012022-01-31064554792020-02-01064554792021-01-31064554792020-02-012021-01-3106455479bus:SmallEntities2021-02-012022-01-3106455479bus:AuditExempt-NoAccountantsReport2021-02-012022-01-3106455479bus:FullAccounts2021-02-012022-01-3106455479bus:PrivateLimitedCompanyLtd2021-02-012022-01-3106455479core:WithinOneYear2022-01-3106455479core:AfterOneYear2022-01-3106455479core:WithinOneYear2021-01-3106455479core:AfterOneYear2021-01-3106455479core:ShareCapital2022-01-3106455479core:SharePremium2022-01-3106455479core:RevaluationReserve2022-01-3106455479core:OtherReservesSubtotal2022-01-3106455479core:RetainedEarningsAccumulatedLosses2022-01-3106455479core:ShareCapital2021-01-3106455479core:SharePremium2021-01-3106455479core:RevaluationReserve2021-01-3106455479core:OtherReservesSubtotal2021-01-3106455479core:RetainedEarningsAccumulatedLosses2021-01-3106455479core:LandBuildings2022-01-3106455479core:PlantMachinery2022-01-3106455479core:Vehicles2022-01-3106455479core:FurnitureFittings2022-01-3106455479core:OfficeEquipment2022-01-3106455479core:NetGoodwill2022-01-3106455479core:IntangibleAssetsOtherThanGoodwill2022-01-3106455479core:ListedExchangeTraded2022-01-3106455479core:UnlistedNon-exchangeTraded2022-01-3106455479core:LandBuildings2021-01-3106455479core:PlantMachinery2021-01-3106455479core:Vehicles2021-01-3106455479core:FurnitureFittings2021-01-3106455479core:OfficeEquipment2021-01-3106455479core:NetGoodwill2021-01-3106455479core:IntangibleAssetsOtherThanGoodwill2021-01-3106455479core:ListedExchangeTraded2021-01-3106455479core:UnlistedNon-exchangeTraded2021-01-3106455479core:LandBuildings2021-02-012022-01-3106455479core:PlantMachinery2021-02-012022-01-3106455479core:Vehicles2021-02-012022-01-3106455479core:FurnitureFittings2021-02-012022-01-3106455479core:OfficeEquipment2021-02-012022-01-3106455479core:NetGoodwill2021-02-012022-01-3106455479core:IntangibleAssetsOtherThanGoodwill2021-02-012022-01-3106455479core:ListedExchangeTraded2021-02-012022-01-3106455479core:UnlistedNon-exchangeTraded2021-02-012022-01-3106455479core:MoreThanFiveYears2021-02-012022-01-3106455479core:Non-currentFinancialInstruments2022-01-3106455479core:Non-currentFinancialInstruments2021-01-3106455479dpl:CostSales2021-02-012022-01-3106455479dpl:DistributionCosts2021-02-012022-01-3106455479dpl:AdministrativeExpenses2021-02-012022-01-3106455479core:LandBuildings2021-02-012022-01-3106455479core:PlantMachinery2021-02-012022-01-3106455479core:Vehicles2021-02-012022-01-3106455479core:FurnitureFittings2021-02-012022-01-3106455479core:OfficeEquipment2021-02-012022-01-3106455479core:NetGoodwill2021-02-012022-01-3106455479core:IntangibleAssetsOtherThanGoodwill2021-02-012022-01-3106455479dpl:GroupUndertakings2021-02-012022-01-3106455479dpl:ParticipatingInterests2021-02-012022-01-3106455479dpl:GroupUndertakingscore:ListedExchangeTraded2021-02-012022-01-3106455479core:ListedExchangeTraded2021-02-012022-01-3106455479dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-02-012022-01-3106455479core:UnlistedNon-exchangeTraded2021-02-012022-01-3106455479dpl:CostSales2020-02-012021-01-3106455479dpl:DistributionCosts2020-02-012021-01-3106455479dpl:AdministrativeExpenses2020-02-012021-01-3106455479core:LandBuildings2020-02-012021-01-3106455479core:PlantMachinery2020-02-012021-01-3106455479core:Vehicles2020-02-012021-01-3106455479core:FurnitureFittings2020-02-012021-01-3106455479core:OfficeEquipment2020-02-012021-01-3106455479core:NetGoodwill2020-02-012021-01-3106455479core:IntangibleAssetsOtherThanGoodwill2020-02-012021-01-3106455479dpl:GroupUndertakings2020-02-012021-01-3106455479dpl:ParticipatingInterests2020-02-012021-01-3106455479dpl:GroupUndertakingscore:ListedExchangeTraded2020-02-012021-01-3106455479core:ListedExchangeTraded2020-02-012021-01-3106455479dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-02-012021-01-3106455479core:UnlistedNon-exchangeTraded2020-02-012021-01-3106455479core:NetGoodwill2022-01-3106455479core:IntangibleAssetsOtherThanGoodwill2022-01-3106455479core:LandBuildings2022-01-3106455479core:PlantMachinery2022-01-3106455479core:Vehicles2022-01-3106455479core:FurnitureFittings2022-01-3106455479core:OfficeEquipment2022-01-3106455479core:AfterOneYear2022-01-3106455479core:WithinOneYear2022-01-3106455479core:ListedExchangeTraded2022-01-3106455479core:UnlistedNon-exchangeTraded2022-01-3106455479core:ShareCapital2022-01-3106455479core:SharePremium2022-01-3106455479core:RevaluationReserve2022-01-3106455479core:OtherReservesSubtotal2022-01-3106455479core:RetainedEarningsAccumulatedLosses2022-01-3106455479core:NetGoodwill2021-01-3106455479core:IntangibleAssetsOtherThanGoodwill2021-01-3106455479core:LandBuildings2021-01-3106455479core:PlantMachinery2021-01-3106455479core:Vehicles2021-01-3106455479core:FurnitureFittings2021-01-3106455479core:OfficeEquipment2021-01-3106455479core:AfterOneYear2021-01-3106455479core:WithinOneYear2021-01-3106455479core:ListedExch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Registered Number
06455479
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2022

North Oak Holdings Limited

Company Information
for the year from 1 February 2021 to 31 January 2022


Directors	Jonathan Hickton
	Amy Hickton


Registered Address	The Estate Office Thorngrove
	Sinton Green
	Worcester
	WR2 6NP


Registered Number	06455479 (England and Wales)

North Oak Holdings Limited

Balance Sheet as at
31 January 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	7		18,717		17,854
Investments	8		621		619
			19,338		18,473
Current assets
Stocks	11	541,590		491,840
Debtors	12	1,285,869		1,087,417
Cash at bank and on hand		3,365		459,196
		1,830,824		2,038,453
Creditors amounts falling due within one year	13	(386,668)		(325,166)
Net current assets (liabilities)			1,444,156		1,713,287
Total assets less current liabilities			1,463,494		1,731,760
Creditors amounts falling due after one year	14		(181,617)		(287,379)
Net assets			1,281,877		1,444,381
Capital and reserves
Called up share capital			2		2
Profit and loss account			1,281,875		1,444,379
Shareholders' funds			1,281,877		1,444,381

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 31 October 2022, and are signed on its behalf by:

Jonathan Hickton
Director
Registered Company No. 06455479

North Oak Holdings Limited

Notes to the Financial Statements
for the year ended 31 January 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Principal activities
	The principal activity of the company is property development.

4.	Basis of measurement used in financial statements
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

5.	Accounting policies

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Stocks policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Government grants and other government assistance policy
	Government revenue grants are recognised in the period in which they are received as other operating income. Any related expenditure being recognised in the same period as the income although this is not offset and is recognised as operating expenses.

	Investments policy
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments policy

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

6.	Employee information


		2022		2021
	Average number of employees during the year	4		3

7.	Property, plant and equipment

	Vehicles	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 February 21	34,222	28,348	62,570
Additions	5,542	1,579	7,121
At 31 January 22	39,764	29,927	69,691
Depreciation and impairment
At 01 February 21	27,481	17,235	44,716
Charge for year	2,786	3,472	6,258
At 31 January 22	30,267	20,707	50,974
Net book value
At 31 January 22	9,497	9,220	18,717
At 31 January 21	6,741	11,113	17,854

8.	Fixed asset investments
	Investments relate to equity shares which are not publicly traded. Where fair value cannot be measured reliably, they are measured at cost less impairment. Dividends on equity securities, where applicable, are recognised in income when receivable.

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 February 21	619	619
Additions	2	2
At 31 January 22	621	621
Net book value
At 31 January 22	621	621
At 31 January 21	619	619

	Notes
	¹Investments in group undertakings and participating interests

9.	Description of nature of transactions and balances with related parties
	At the year end the Company was owed £76,624 (2021 - £74,510) by a wholly owned subsidiary with the monies having been advanced by way of monetary loans on an unsecured interest free basis, This is repayable on demand. At the year end the Company was owed £924,703 (2021 - £872,429) by associated entities holding 50% or less of the equity shares. The advance includes the provision of services and monetary loans with all monetary amounts having been advanced on an unsecured basis. Interest is receivable, contingent on the success of the underlying project. All monies are repayable on demand. At the year end the Company was owed £9,908 ( 2021 - £9,189) by another related party. This debt has arisen due to the provision of services which had been provided on an unsecured interest free basis. All monies are repayable on demand. At the year end the Company was owed £107,394 ( 2021 - £NIL) by another related party with the monies having been advanced by way of monetary loans on an unsecured interest free basis, This is repayable on demand. At the year end the Company owed £21,518 (2021 - £22,239) to an associated interest holding 50% or less of the equity shares. The advance includes the provision of services and monetary loans with all monetary amounts having been advanced on an unsecured interest free basis. All monies are repayable on demand. At the year end the Company owed £16,118 (2021 - £Nil) to a trust in which a director is beneficiary, the monies having been advanced on an unsecured interest free basis. All monies are repayable on demand.

Description of nature of transactions and balances with related parties

At the year end the Company was owed £76,624 (2021 - £74,510) by a wholly owned subsidiary with the monies having been advanced by way of monetary loans on an unsecured interest free basis, This is repayable on demand.

At the year end the Company was owed £924,703 (2021 - £872,429) by associated entities holding 50% or less of the equity shares. The advance includes the provision of services and monetary loans with all monetary amounts having been advanced on an unsecured basis. Interest is receivable, contingent on the success of the underlying project.  All monies are repayable on demand.

At the year end the Company was owed £9,908 ( 2021 - £9,189) by another related party. This debt has arisen due to the provision of services which had been provided on an unsecured interest free basis. All monies are repayable on demand.

At the year end the Company was owed £107,394 ( 2021 - £NIL) by another related party with the monies having been advanced by way of monetary loans on an unsecured interest free basis, This is repayable on demand.

At the year end the Company owed £21,518 (2021 - £22,239) to an associated interest  holding 50% or less of the equity shares. The advance includes the provision of services and monetary loans with all monetary amounts having been advanced on an unsecured interest free basis. All monies are repayable on demand.

At the year end the Company owed £16,118 (2021 - £Nil) to a trust in which a director is beneficiary, the monies having been advanced on an unsecured interest free basis. All monies are repayable on demand.

10.	Directors benefits

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
Jonathan Hickton	38,099	47,938	86,037	0
	38,099	47,938	86,037	0


	The loans were advanced interest free and were repaid within nine months of the accounting period end.

11.	Stocks

	2022	2021
	£	£
Work in progress	541,590	491,840
Total	541,590	491,840

12.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	126,009	59,137
Amounts owed by group undertakings	1,001,349	946,927
Amounts owed by associates and joint ventures / participating interests	117,302	47,299
Other debtors	14,809	-
Prepayments and accrued income	26,400	34,054
Total	1,285,869	1,087,417


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

13.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	31,261	37,729
Bank borrowings and overdrafts	10,000	5,833
Amounts owed to related parties	37,904	22,239
Taxation and social security	-	69,717
Other creditors	305,752	187,897
Accrued liabilities and deferred income	1,751	1,751
Total	386,668	325,166


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The Company has taken a loan from a Pension Scheme with an amount of £302,808 (2021: £184,780) being due within one year. This is denominated in sterling with a nominal interest rate of 5%. The final instalment being due on 14 August 2024. The loan is secured by a debenture including a fixed charge over all assets of the Company. The loan is secured by a debenture including a fixed charge over all assets of the Company. The Company has taken a Bounce Back loan with £10,000 being due within one year. This is denominated in sterling with a nominal interest rate of 2.5%. The final instalment being due in June 2026. The loan is secured 100% by the Government.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

The Company has taken a loan from a Pension Scheme with an amount of £302,808 (2021: £184,780) being due within one year. This is denominated in sterling with a nominal interest rate of 5%. The final instalment being due on 14 August 2024. The loan is secured by a debenture including a fixed charge over all assets of the Company.  The loan is secured by a debenture including a fixed charge over all assets of the Company.

The Company has taken a Bounce Back loan with £10,000 being due within one year. This is denominated in sterling with a nominal interest rate of 2.5%. The final instalment being due in June 2026. The loan is secured 100% by the Government.

14.	Creditors after one year

	2022	2021
	£	£
Bank borrowings and overdrafts	33,333	44,167
Other creditors	148,284	243,212
Total	181,617	287,379


	The Company has taken a loan from a Pension Scheme with a carrying amount of £148,284 (2021 - £243,212) being due after one year. This is denominated in sterling with a nominal interest rate of 5%. The final instalment being due on 14 August 2024. The loan is secured by a debenture including a fixed charge over all assets of the Company. The Company has taken a Bounce Back loan with £33,333 being due after one year. This is denominated in sterling with a nominal interest rate of 2.5%. The final instalment being due in June 2026. The loan is secured 100% by the Government.

The Company has taken a loan from a Pension Scheme with a carrying amount of £148,284 (2021 - £243,212) being due after one year. This is denominated in sterling with a nominal interest rate of 5%. The final instalment being due on 14 August 2024.  The loan is secured by a debenture including a fixed charge over all assets of the Company.

The Company has taken a Bounce Back loan with £33,333 being due after one year. This is denominated in sterling with a nominal interest rate of 2.5%. The final instalment being due in June 2026. The loan is secured 100% by the Government.