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REGISTERED NUMBER: 11781349 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Oktagon Property Ltd

Oktagon Property Ltd (Registered number: 11781349)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oktagon Property Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: A Malik
Mrs R Malik





SECRETARY:





REGISTERED OFFICE: 704 London Road
Cheam
Sutton
SM3 9BY





REGISTERED NUMBER: 11781349 (England and Wales)





ACCOUNTANTS: Nationwide Accountants & Tax Advisors Ltd
704
London Road,
North Cheam
Sutton
Surrey
SM3 9BY

Oktagon Property Ltd (Registered number: 11781349)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,950 681,497

CURRENT ASSETS
Cash at bank 103,245 5,594

CREDITORS
Amounts falling due within one year 5 60,658 87,257
NET CURRENT ASSETS/(LIABILITIES) 42,587 (81,663 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,537

599,834

CREDITORS
Amounts falling due after more than
one year

6

(45,180

)

(522,818

)

PROVISIONS FOR LIABILITIES - (33,481 )
NET ASSETS 14,357 43,535

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,257 43,435
14,357 43,535

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

Oktagon Property Ltd (Registered number: 11781349)

Balance Sheet - continued
31 January 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:





A Malik - Director


Oktagon Property Ltd (Registered number: 11781349)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Oktagon Property Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

Oktagon Property Ltd (Registered number: 11781349)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 February 2022 679,059 4,396 683,455
Disposals (487,843 ) - (487,843 )
Revaluations (176,216 ) - (176,216 )
At 31 January 2023 15,000 4,396 19,396
DEPRECIATION
At 1 February 2022 - 1,958 1,958
Charge for year - 488 488
At 31 January 2023 - 2,446 2,446
NET BOOK VALUE
At 31 January 2023 15,000 1,950 16,950
At 31 January 2022 679,059 2,438 681,497

Cost or valuation at 31 January 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
2021
Valuation in 2022 22,500 - 22,500
Valuation in 2023 (161,216 ) - (161,216 )
Cost - 4,396 4,396
15,000 4,396 19,396

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors - 39,000
Taxation and social security 12,186 -
Other creditors 48,472 48,257
60,658 87,257

Oktagon Property Ltd (Registered number: 11781349)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans 45,180 50,000
Other creditors - 472,818
45,180 522,818

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 45,180 50,000
Other loans more 5yrs instal - 472,818
45,180 522,818