Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-02-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.00No description of principal activitytruefalsetrue 09146044 2022-02-01 2023-01-31 09146044 2021-02-01 2022-01-31 09146044 2023-01-31 09146044 2022-01-31 09146044 c:Director1 2022-02-01 2023-01-31 09146044 d:CurrentFinancialInstruments 2023-01-31 09146044 d:CurrentFinancialInstruments 2022-01-31 09146044 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09146044 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 09146044 d:ShareCapital 2023-01-31 09146044 d:ShareCapital 2022-01-31 09146044 d:RetainedEarningsAccumulatedLosses 2023-01-31 09146044 d:RetainedEarningsAccumulatedLosses 2022-01-31 09146044 c:FRS102 2022-02-01 2023-01-31 09146044 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 09146044 c:FullAccounts 2022-02-01 2023-01-31 09146044 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 09146044









OLDTOWN INVESTMENT PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
OLDTOWN INVESTMENT PROPERTIES LIMITED
REGISTERED NUMBER: 09146044

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors
 5 
263,325
402,874

Cash at bank and in hand
 6 
712
22,313

  
264,037
425,187

Creditors: amounts falling due within one year
 7 
-
(160,833)

Net current assets
  
 
 
264,037
 
 
264,354

Total assets less current liabilities
  
264,037
264,354

  

Net assets
  
264,037
264,354


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
263,937
264,254

  
264,037
264,354


Page 1

 
OLDTOWN INVESTMENT PROPERTIES LIMITED
REGISTERED NUMBER: 09146044
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

Darren Andrew Gayer
Director

Date: 27 October 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
OLDTOWN INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Oldtown Investment Properties Limited ('the Company') is a private company limited by share capital, incorporated under the UK Companies Act 2006 and domiciled in England.
The address of the Company's registered office is Sheldon House, 904/910 High Road, London, N12 9RW.

2.Accounting policies

  
2.1

Summary of significant accounting policies

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

 
2.2

Basis of preparation of financial statements

The financial statements of the Company have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, and the UK Companies Act 2006.
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.

  
2.3

Functional and presentational currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

 
2.4

Going concern

In assessing whether the going concern basis remains appropriate for the preparation of the financial statements, the director has reviewed the Company’s principal and emerging risks, access to funding and liquidity position and the Company's performance up to the date these financial statements were approved and expected performance over the 18 months following the balance sheet date.
Based on his assessment, the director is of the conclusion that the Company will have, available at its disposal, adequate resources to continue in operational existence for the foreseeable future.
 
Page 3

 
OLDTOWN INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.4
Going concern (continued)

While there will always remain an inherent uncertainty, as is the case for all companies, the director has no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern and therefore considers it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.

 
2.5

Revenue

Revenue represents amounts receivable, measured at fair value exclusive of value added taxation, during the reporting period from the rental of properties and other income directly attributable to the Company's principal activity.
Rental income is recognised in accordance with the terms of the underlying rental arrangement on a straight line basis.
Other income is recognised as and when the Company raises an invoice in respect of amounts due with amounts accrued and/or deferred in accordance with the terms of the underlying contract.

  
2.6

Taxation

Taxation comprises of income and/or corporate taxation ("current taxation") and deferred taxation recognised solely in profit or loss.
Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date where taxable income is generated by the Company through its business operations.
Deferred taxation is recognised on temporary differences arising between the tax bases of assets and liabilities and their respective carrying amounts in the financial statements. Deferred taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date expected to apply when the related deferred tax asset/liability is realised/settled.
As part of the Finance Act 2020, which received Royal Assent on 22 July 2020, the change to the main rate of UK corporation tax enacted by Finance (No.2) Act 2015 from 19% to 18% and effective as of 1 April 2020 was withdrawn.
The main rate of UK corporation tax therefore remained at 19%, as it has been since 1 April 2017 and is expected to remain as such until 1 April 2023 as outlined in the 2020 Budget to Parliament delivered by the Chancellor of the Exchequer on 11 March 2020 and substantively enacted on 24 May 2021 when the corporation tax rate would transition to 25% (i.e. main rate) for annual taxable profits above £250,000 and 19% (i.e. small profits rate) for annual taxable profits below £50,000. Where annual taxable profits fall between £50,000 and £250,000, corporation tax at the main rate as reduced by marginal relief will apply.
Deferred tax assets are recognised only to the extent that it is sufficiently probable that future taxable profits will be available against which the temporary differences can be utilised.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
Page 4

 
OLDTOWN INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the Company’s obligations are discharged, cancelled or expired.
The measurement of specific financial assets, financial liabilities, and equity held by the Company is as outlined below:
Debtors
Debtors are initially measured at transaction price (i.e fair value) and subsequently held, at transaction price less provision for impairment of assets. 
Cash and cash equivalents
Cash balances are reported by the Company as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Creditors
Creditors are initially measured, and subsequently held, at transaction price (i.e fair value). 
Equity and dividends
Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account. Equity dividends are recognised in the reporting period in which they become legally payable


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the director is required to apply judgment and make estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other available sources based on historical experience and other factors that are considered to be relevant. Consequently, actual results may differ from that originally estimated.
The judgments, estimates and assumptions that are considered to have a significant risk of causing a material adjustment to the carrying amounts of assets and/or liabilities within the next financial period are addressed below:
Recoverable value of debtors
When assessing the recoverable value of debtors, the director considers both externally available and internal sources of information such as historic and expected market activity, ageing profile, historical experience and, in the case of amounts owed by connected parties, the forecasted financial performance and expected cash flows of the connected party

Page 5

 
OLDTOWN INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Employees

The average monthly number of employees, including directors, during the year was 0 (2022 - 0).
In accordance with UK legislation, office holders (i.e. registered company directors or secretaries) of the
Company are not employees of the Company on the grounds that they are not party to a contract with
the Company that meets the criteria for status of an employee.

Page 6

 
OLDTOWN INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors


2023
2022
£
£


Falling due within one year

Amounts owed by group undertakings
242,088
373,755

Other debtors
21,237
29,119

263,325
402,874


Amounts owed by group undertakings are unsecured, interest-free and repayable on demand with no fixed date of repayment.
Debtors falling due within one year are, in the opinion of the director, of a fair value not materially different to their carrying value.
At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil (2022: £nil).


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
712
22,313



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
49,388

Accruals and deferred income
-
111,445

-
160,833


Page 7

 
OLDTOWN INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

8.


Related party transactions

Wholly-owned group undertakings
The Company has taken advantage of exemptions provided by Section 33 of Financial Reporting  Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between the Company and its fellow wholly-owned group undertakings.
Other related parties
At the balance sheet date, companies under common control owed £nil (2022: £27,455) to the Company in respect of non-interest bearing amounts which are repayable on demand and have no fixed date of repayment.


9.


Controlling party

The immediate parent undertaking is Sentpark Capital Limited, a company incorporated under the UK Companies Act 2016 and whose registered office is located at Sheldon House, 904/910 High Road, London, N12 9RW.
Sentpark Capital Limited is the parent undertaking of the smallest group to consolidate these financial statements. Copies of consolidated group financial statements for Sentpark Capital Limited are not publicly available on the grounds of exemption available under the Companies Act 2006 for small groups and companies.

 
Page 8