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REGISTERED NUMBER: 11874901 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

OLD LODGE ESTATES 3 LTD

OLD LODGE ESTATES 3 LTD (REGISTERED NUMBER: 11874901)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OLD LODGE ESTATES 3 LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: I J Hussain





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 11874901 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

OLD LODGE ESTATES 3 LTD (REGISTERED NUMBER: 11874901)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,384,001 2,384,001

CURRENT ASSETS
Debtors 5 578,754 621,523
Cash at bank 331,749 221,988
910,503 843,511
CREDITORS
Amounts falling due within one year 6 971,914 937,337
NET CURRENT LIABILITIES (61,411 ) (93,826 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,322,590

2,290,175

CREDITORS
Amounts falling due after more than one
year

7

(2,394,640

)

(2,404,767

)

PROVISIONS FOR LIABILITIES (28,407 ) (28,407 )
NET LIABILITIES (100,457 ) (142,999 )

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Revaluation reserve 9 121,103 121,103
Retained earnings (221,660 ) (264,202 )
(100,457 ) (142,999 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OLD LODGE ESTATES 3 LTD (REGISTERED NUMBER: 11874901)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 February 2024 and were signed by:





I J Hussain - Director


OLD LODGE ESTATES 3 LTD (REGISTERED NUMBER: 11874901)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Old Lodge Estates 3 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Investment property
Investment property is initially recorded at cost and subsequently at fair value, with fair value gains or losses being recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

OLD LODGE ESTATES 3 LTD (REGISTERED NUMBER: 11874901)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on the going concern basis, on the understanding that the company will receive continued support from the director for a period of at least 12 months from the date of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 2,384,001
NET BOOK VALUE
At 31 March 2023 2,384,001
At 31 March 2022 2,384,001

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by participating interests 576,861 619,630
Other debtors 1,893 1,893
578,754 621,523

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 21,900 21,900
Amounts owed to participating interests 947,055 913,146
Taxation and social security 9 -
Other creditors 2,950 2,291
971,914 937,337

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 2,394,640 2,404,767

OLD LODGE ESTATES 3 LTD (REGISTERED NUMBER: 11874901)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 2,380,000 2,380,000

The loan is secured by way of a charge over the investment property held by the company

9. RESERVES

The revaluation reserve is a non-distributable reserve relating to fair value gains or losses on the revaluation of the investment property, net of relates deferred tax.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director operated a loan with the company with no fixed terms of repayment or interest. Amounts advanced during the year were £1,893 (2022: £1,893) and repayments during the year were £1,893 (2022: £nil). At the year end the amount owing to the company was £1,893 (2022: £1,893).

11. RELATED PARTY DISCLOSURES

Included in other creditors and amounts due to participating interests is £947,055 (2022: £913,146) owing to companies in which the director has an interest.

Included in amounts due from participating interests is £576,861 (2022: £619,629) owing from companies in which the director has an interest.