3 false false false false false false false false false true false false false false false false 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
FOR THE YEAR ENDED
31 January 2023
ONESTOP PROPERTIES EUROPE LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2023
2023
2022
Note
£
£
£
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
2023
2022
Note
£
£
£
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:
B E Orrey
Director
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 .