Silverfin false false 30/09/2023 01/10/2022 30/09/2023 J Grimes 19/09/2018 T A Roper 19/09/2018 13 February 2024 The principal activity of the Company during the financial year was property investment. 11577182 2023-09-30 11577182 bus:Director1 2023-09-30 11577182 bus:Director2 2023-09-30 11577182 2022-09-30 11577182 core:CurrentFinancialInstruments 2023-09-30 11577182 core:CurrentFinancialInstruments 2022-09-30 11577182 core:ShareCapital 2023-09-30 11577182 core:ShareCapital 2022-09-30 11577182 core:RetainedEarningsAccumulatedLosses 2023-09-30 11577182 core:RetainedEarningsAccumulatedLosses 2022-09-30 11577182 2022-10-01 2023-09-30 11577182 bus:FilletedAccounts 2022-10-01 2023-09-30 11577182 bus:SmallEntities 2022-10-01 2023-09-30 11577182 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 11577182 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 11577182 bus:Director1 2022-10-01 2023-09-30 11577182 bus:Director2 2022-10-01 2023-09-30 11577182 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure

Company No: 11577182 (England and Wales)

ORIGIN DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

ORIGIN DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

ORIGIN DEVELOPMENTS LIMITED

BALANCE SHEET

As at 30 September 2023
ORIGIN DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 80,512 80,512
80,512 80,512
Current assets
Cash at bank and in hand 12,595 18,331
12,595 18,331
Creditors: amounts falling due within one year 4 ( 36,651) ( 53,314)
Net current liabilities (24,056) (34,983)
Total assets less current liabilities 56,456 45,529
Net assets 56,456 45,529
Capital and reserves
Called-up share capital 2 2
Profit and loss account 56,454 45,527
Total shareholders' funds 56,456 45,529

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Origin Developments Limited (registered number: 11577182) were approved and authorised for issue by the Director on 13 February 2024. They were signed on its behalf by:

T A Roper
Director
ORIGIN DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
ORIGIN DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Origin Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the rental income receivable, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 October 2022 80,512
As at 30 September 2023 80,512

Valuation

The value of investment property is derived from observable current market prices for comparable real estate determined by the directors. The assets have a current value of £80,512 (2022 - £80,512).

Historic cost

If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 80,512 80,512

4. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 2,562 3,189
Other taxation and social security 896 984
Other creditors 33,193 49,141
36,651 53,314