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REGISTERED NUMBER: 01658822 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

OVERLID LIMITED

OVERLID LIMITED (REGISTERED NUMBER: 01658822)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


OVERLID LIMITED (REGISTERED NUMBER: 01658822)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,749 1,351
Investment property 5 3,273,000 3,225,000
3,282,749 3,226,351

CURRENT ASSETS
Debtors 6 6,927 4,446
Cash at bank and in hand 581,369 564,296
588,296 568,742
CREDITORS
Amounts falling due within one year 7 111,401 128,816
NET CURRENT ASSETS 476,895 439,926
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,759,644

3,666,277

PROVISIONS FOR LIABILITIES 8 337,955 336,360
NET ASSETS 3,421,689 3,329,917

CAPITAL AND RESERVES
Called up share capital 9 2 2
Non-distributable reserves 10 1,645,112 1,645,112
Retained earnings 10 1,776,575 1,684,803
SHAREHOLDERS' FUNDS 3,421,689 3,329,917

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

OVERLID LIMITED (REGISTERED NUMBER: 01658822)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 9 October 2023 and were signed on its behalf by:





J Stephanides - Director


OVERLID LIMITED (REGISTERED NUMBER: 01658822)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Overlid Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01658822

Registered office: 368 Forest Road
London
E17 5JF

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on reducing balance

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation and are shown at most recent valuation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss in the period in which they arise.

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 statement of financial position date.


OVERLID LIMITED (REGISTERED NUMBER: 01658822)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Deposits received from tenants
The company receives rental income from a mixture of commercial and domestic lettings. Deposits received from domestic tenants are dealt with in accordance with the provisions of the Tenancy Deposit Protection Scheme. Unless otherwise agreed, deposits received from commercial tenants are repayable in accordance with the terms of the agreement and are deposited in especially designated bank deposits accounts for the benefit of these tenants.

These deposits and associated interest received belong to the commercial tenants and as such are not shown anywhere in these financial statements. Where agreed, the deposits and associated interest are returned to the tenants with the terms of their agreement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022 9,101
Additions 10,118
At 31 March 2023 19,219
DEPRECIATION
At 1 April 2022 7,750
Charge for year 1,720
At 31 March 2023 9,470
NET BOOK VALUE
At 31 March 2023 9,749
At 31 March 2022 1,351

OVERLID LIMITED (REGISTERED NUMBER: 01658822)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 3,225,000
Additions 48,000
At 31 March 2023 3,273,000
NET BOOK VALUE
At 31 March 2023 3,273,000
At 31 March 2022 3,225,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2023 by the Director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 3,273,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,875 4,446
Amounts owed by group undertakings 52 -
6,927 4,446

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,603 10,448
Taxation and social security 26,130 39,101
Other creditors 78,668 79,267
111,401 128,816

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 337,955 336,360

OVERLID LIMITED (REGISTERED NUMBER: 01658822)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 336,360
Provided during year 1,595
Balance at 31 March 2023 337,955

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

10. RESERVES

Retained earnings comprise accumulated profits and losses net of dividends since inception.

Non-distributable reserves represent cumulative unrealised fair value movements on investment properties net of provisions for deferred taxation.

Transfers between retained earnings and non-distributable reserves represent the unrealised fair value movements on investment properties net of provisions for deferred taxation in the current year.

11. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:


20232022
£   £   
Amounts owed by/(to) J Stephanides (Director)(76,268)(76,267)
Amounts owed by/(to) Group undertakings - Overlid Holdings Limited52-

12. ULTIMATE PARENT COMPANY

The immediate and ultimate parent undertaking is Overlid Holdings Limited.

The registered office of Overlid Holdings Limited is 368 Forest Road, London, E17 5JF.