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Ordnance Row (Tisbury) Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2023

Registration number: 12396421

 

Ordnance Row (Tisbury) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Ordnance Row (Tisbury) Limited

Balance Sheet

31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

5

285,000

285,000

Current assets

 

Debtors

6

725

575

Cash at bank and in hand

 

2,173

1,109

 

2,898

1,684

Creditors: Amounts falling due within one year

7

(118,972)

(116,985)

Net current liabilities

 

(116,074)

(115,301)

Total assets less current liabilities

 

168,926

169,699

Creditors: Amounts falling due after more than one year

7

(100,000)

(100,000)

Net assets

 

68,926

69,699

Capital and reserves

 

Called up share capital

9

100

100

Revaluation reserve

85,083

85,277

Profit and loss account

(16,257)

(15,678)

Shareholders' funds

 

68,926

69,699

 

Ordnance Row (Tisbury) Limited

Balance Sheet

31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 September 2023 and signed on its behalf by:
 

.........................................
R C B Lanyon
Director

Company Registration Number: 12396421

 

Ordnance Row (Tisbury) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Monkgarron West End
Ebbesbourne
Wake
Salisbury
Wiltshire
SP5 5JS

These financial statements were authorised for issue by the Board on 22 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ordnance Row (Tisbury) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Ordnance Row (Tisbury) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
 £

2022
 £

Deferred taxation

Arising from origination and reversal of timing differences

(194)

3,950

5

Investment properties

2023
£

At 1 April

285,000

At 31 March

285,000


The investment property was valued on 31 March 2021 by the Directors who are internal to the company. The basis of valuation was open market value.

The Directors determined the valuation at 31 March 2021 using an estimated market value.

6

Debtors

2023
£

2022
£

Other debtors

725

575

725

575

 

Ordnance Row (Tisbury) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

1,500

-

Corporation tax

 

146

147

Other creditors

 

114,808

115,738

Accruals and deferred income

 

2,518

1,100

 

118,972

116,985

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

100,000

100,000

2023
£

2022
£

Due after more than five years

After more than five years not by instalments

-

100,000

8

Loans and borrowings

2023
£

2022
£

Loans and borrowings due after one year

Bank borrowings

100,000

100,000

2023
£

2022
£

Current loans and borrowings

Other borrowings

1,500

-

Borrowings due after five years

During the year the company obtained a £100,000 interest only loan due for repayment in 2032.

 

Ordnance Row (Tisbury) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(194)

(194)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

3,950

3,950