Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28false2truefalse2022-03-012The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09458765 2022-03-01 2023-02-28 09458765 2021-03-01 2022-02-28 09458765 2023-02-28 09458765 2022-02-28 09458765 c:Director1 2022-03-01 2023-02-28 09458765 d:CurrentFinancialInstruments 2023-02-28 09458765 d:CurrentFinancialInstruments 2022-02-28 09458765 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09458765 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 09458765 d:ShareCapital 2023-02-28 09458765 d:ShareCapital 2022-02-28 09458765 d:RetainedEarningsAccumulatedLosses 2023-02-28 09458765 d:RetainedEarningsAccumulatedLosses 2022-02-28 09458765 c:FRS102 2022-03-01 2023-02-28 09458765 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 09458765 c:FullAccounts 2022-03-01 2023-02-28 09458765 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 09458765 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 09458765










ODYSSEY REAL ESTATE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
ODYSSEY REAL ESTATE LIMITED
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 3


 
ODYSSEY REAL ESTATE LIMITED
REGISTERED NUMBER: 09458765

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
£
£

  

Current assets
  

Stocks
  
754,932
754,932

Debtors
 4 
5,198
4,800

Cash at bank and in hand
  
20,688
34,011

  
780,818
793,743

Creditors: amounts falling due within one year
 5 
(761,859)
(766,567)

Net current assets
  
 
 
18,959
 
 
27,176

  

Net assets
  
18,959
27,176


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
18,958
27,175

  
18,959
27,176


The directors consider 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 directors acknowledge their 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 on 25 October 2023.


M. Lambourne
Director


The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
ODYSSEY REAL ESTATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Odyssey Real Estate Limited is a private company, limited by shares, incorporated and domiciled in England. The address of the registered office is 3 City Place, London Gatwick Airport, West Sussex, RH6 0PA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements 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 Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is dependant upon the support from its directors. The directors have indicated that they will continue to provide finanicial support to the company for the foreseeable future. Accordingly, these financial statements have been prepared on the going concern basis.

 
2.3

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete.
Other income receivable is the amount receivable from the short term rental of properties held as work in progress whilst awaiting sale.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.5

Creditors

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Page 2

 
ODYSSEY REAL ESTATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Trade debtors
-
1,466

Other debtors
5,198
3,334

5,198
4,800



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loan
479,500
491,100

Trade creditors
5,550
660

Corporation tax
2,059
1,977

Other creditors
271,450
269,650

Accruals and deferred income
3,300
3,180

761,859
766,567


The bank loan is secured against the assets of the company.

 
Page 3