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Registration number: 12730375

Old Soil Property Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Old Soil Property Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Old Soil Property Group Limited

Company Information

Directors

Mrs S P NG

Dr C Y Lau

Registered office

Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

Accountants

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

 

Old Soil Property Group Limited

(Registration number: 12730375)
Balance Sheet as at 31 July 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

4

8,439

-

Investment property

5

180,000

155,712

 

188,439

155,712

Current assets

 

Debtors

6

1,746

41,825

Cash at bank and in hand

 

2,155

693

 

3,901

42,518

Creditors: Amounts falling due within one year

7

(217,946)

(205,211)

Net current liabilities

 

(214,045)

(162,693)

Net liabilities

 

(25,606)

(6,981)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(25,706)

(7,081)

Shareholders' deficit

 

(25,606)

(6,981)

 

Old Soil Property Group Limited

(Registration number: 12730375)
Balance Sheet as at 31 July 2023

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 April 2024 and signed on its behalf by:
 

.........................................
Mrs S P NG
Director

 

Old Soil Property Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

These financial statements were authorised for issue by the Board on 8 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Old Soil Property Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

10,850

10,850

At 31 July 2023

10,850

10,850

Depreciation

Charge for the year

2,411

2,411

At 31 July 2023

2,411

2,411

Carrying amount

At 31 July 2023

8,439

8,439

5

Investment properties

2023
£

At 1 August

155,712

Additions

44,150

Fair value adjustments

(19,862)

At 31 July

180,000

There has been no valuation of investment property by an independent valuer.

 

Old Soil Property Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Debtors

2023
£

2022
£

Prepayments

1,746

41,825

1,746

41,825

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

4,150

1,368

Accruals and deferred income

1,173

900

Other creditors

212,623

202,943

217,946

205,211

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100