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No description of principal activity
2022-02-01
Sage Accounts Production Advanced 2021 - FRS102_2021
3,634
3,634
275
275
3,359
3,409,999
128,599
59,075
3,597,673
3,597,673
3,409,999
xbrli:pure
xbrli:shares
iso4217:GBP
10591447
2022-02-01
2023-01-31
10591447
2023-01-31
10591447
2021-02-01
2022-01-31
10591447
2022-01-31
10591447
core:PlantMachinery
2022-02-01
2023-01-31
10591447
bus:Director1
2022-02-01
2023-01-31
10591447
core:PlantMachinery
2023-01-31
10591447
core:AfterOneYear
2023-01-31
10591447
core:AfterOneYear
2022-01-31
10591447
core:WithinOneYear
2023-01-31
10591447
core:WithinOneYear
2022-01-31
10591447
core:ShareCapital
2023-01-31
10591447
core:ShareCapital
2022-01-31
10591447
core:OtherReservesSubtotal
2023-01-31
10591447
core:OtherReservesSubtotal
2022-01-31
10591447
core:RetainedEarningsAccumulatedLosses
2023-01-31
10591447
core:RetainedEarningsAccumulatedLosses
2022-01-31
10591447
core:CostValuation
core:Non-currentFinancialInstruments
2022-01-31
10591447
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2023-01-31
10591447
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2023-01-31
10591447
core:CostValuation
core:Non-currentFinancialInstruments
2023-01-31
10591447
core:Non-currentFinancialInstruments
2023-01-31
10591447
core:Non-currentFinancialInstruments
2022-01-31
10591447
bus:SmallEntities
2022-02-01
2023-01-31
10591447
bus:AuditExemptWithAccountantsReport
2022-02-01
2023-01-31
10591447
bus:FullAccounts
2022-02-01
2023-01-31
10591447
bus:SmallCompaniesRegimeForAccounts
2022-02-01
2023-01-31
10591447
bus:PrivateLimitedCompanyLtd
2022-02-01
2023-01-31
10591447
1
2022-02-01
2023-01-31
COMPANY REGISTRATION NUMBER:
10591447
ONESTOP PROPERTIES EUROPE LIMITED |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
ONESTOP PROPERTIES EUROPE LIMITED |
|
STATEMENT OF FINANCIAL POSITION |
|
31 January 2023
Fixed assets
Tangible assets |
5 |
|
3,359 |
– |
Investment properties |
6 |
|
3,597,673 |
3,409,999 |
|
|
------------- |
------------- |
|
|
3,601,032 |
3,409,999 |
|
|
|
|
|
Current assets
Debtors |
7 |
1,858 |
|
1,786 |
Cash at bank and in hand |
19,833 |
|
131,454 |
|
--------- |
|
---------- |
|
21,691 |
|
133,240 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
(
2,550,632) |
|
(
2,569,704) |
|
------------- |
|
------------- |
Net current liabilities |
|
(
2,528,941) |
(
2,436,464) |
|
|
------------- |
------------- |
Total assets less current liabilities |
|
1,072,091 |
973,535 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
(
60,000) |
(
60,000) |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
(
193,346) |
(
211,637) |
|
|
------------- |
---------- |
Net assets |
|
818,745 |
701,898 |
|
|
------------- |
---------- |
|
|
|
|
ONESTOP PROPERTIES EUROPE LIMITED |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 January 2023
Capital and reserves
Called up share capital |
|
100 |
100 |
Other reserves |
|
579,184 |
500,870 |
Profit and loss account |
|
239,461 |
200,928 |
|
|
---------- |
---------- |
Shareholders funds |
|
818,745 |
701,898 |
|
|
---------- |
---------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 January 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
3 November 2023
, and are signed on behalf of the board by:
Company registration number:
10591447
ONESTOP PROPERTIES EUROPE LIMITED |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 JANUARY 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Windsor House, A1 Business Park, Long Bennington, Nottinghamshire, NG23 5JR.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. - Significant judgements No judgements have been made which would have a significant effect on the amounts recognised in the financial statements.
- Key sources of estimation uncertainty Investment properties are revalued at the balance sheet date by the directors.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued by the directors to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Revenue recognition
The turnover shown in the statement of comprehensive income represents rental income due for the year, recognised on an accruals basis.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
25% straight line |
|
|
|
|
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2022:
3
).
5.
Tangible assets
|
Plant and machinery |
|
£ |
Cost |
|
At 1 February 2022 |
– |
Additions |
3,634 |
|
------- |
At 31 January 2023 |
3,634 |
|
------- |
Depreciation |
|
At 1 February 2022 |
– |
Charge for the year |
275 |
|
------- |
At 31 January 2023 |
275 |
|
------- |
Carrying amount |
|
At 31 January 2023 |
3,359 |
|
------- |
At 31 January 2022 |
– |
|
------- |
|
|
6.
Investment properties
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 February 2022 |
3,409,999 |
Additions |
128,599 |
Revaluations |
59,075 |
|
------------- |
At 31 January 2023 |
3,597,673 |
|
------------- |
Impairment |
|
At 1 February 2022 and 31 January 2023 |
– |
|
------------- |
|
|
Carrying amount |
|
At 31 January 2023 |
3,597,673 |
|
------------- |
At 31 January 2022 |
3,409,999 |
|
------------- |
|
|
The investment properties are revalued each year at the balance sheet date by the directors at fair value. At 31 January 2023, the historical cost of investment properties was £2,828,312 (2022 - £2,699,713).
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
896 |
674 |
Other debtors |
962 |
1,112 |
|
------- |
------- |
|
1,858 |
1,786 |
|
------- |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
5,875 |
15,789 |
Corporation tax |
8,714 |
45,533 |
Other creditors |
2,536,043 |
2,508,382 |
|
------------- |
------------- |
|
2,550,632 |
2,569,704 |
|
------------- |
------------- |
|
|
|
Included in Creditors: amounts falling due withing one year is an amount of £2,531,838 (2022: £2,504,447) owed to the directors.
9.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
60,000 |
60,000 |
|
--------- |
--------- |
|
|
|
The bank loan of £60,000 is an interest only mortgage which is due for payment in greater than 5 years. The balance is subject to a variable interest rate of 3.12% above LIBOR, following a fixed rate of 3.89% for two years.
The directors have personally guaranteed this balance.
10.
Directors' advances, credits and guarantees
Included within creditors is an amount of £60,000 which the directors have personally guaranteed.
11.
Controlling party
The company is considered to be under the control of
B & L Orrey
.