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REGISTERED NUMBER: 03567625 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st March 2024

for

Otter Properties (Kent) Limited

Otter Properties (Kent) Limited (Registered number: 03567625)

Contents of the Financial Statements
for the Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Otter Properties (Kent) Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: D E Lee
M Seabrook
D E Osborne





REGISTERED OFFICE: 29 High Street
Blue Town
SHEERNESS
Kent
ME12 1RN





REGISTERED NUMBER: 03567625 (England and Wales)





ACCOUNTANTS: Blain Pritchard
Chartered Certified Accountants
29 High Street
Blue Town
SHEERNESS
Kent
ME12 1RN

Otter Properties (Kent) Limited (Registered number: 03567625)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,100,000 1,100,000

CURRENT ASSETS
Debtors 5 72 -
Cash at bank 50,291 83,106
50,363 83,106
CREDITORS
Amounts falling due within one year 6 288,324 318,626
NET CURRENT LIABILITIES (237,961 ) (235,520 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

862,039

864,480

PROVISIONS FOR LIABILITIES 132,842 132,842
NET ASSETS 729,197 731,638

CAPITAL AND RESERVES
Called up share capital 4 4
Revaluation reserve 7 341,970 341,970
Retained earnings 387,223 389,664
SHAREHOLDERS' FUNDS 729,197 731,638

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Otter Properties (Kent) Limited (Registered number: 03567625)

Balance Sheet - continued
31st March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th April 2024 and were signed on its behalf by:




D E Lee - Director M Seabrook - Director




D E Osborne - Director


Otter Properties (Kent) Limited (Registered number: 03567625)

Notes to the Financial Statements
for the Year Ended 31st March 2024


1. STATUTORY INFORMATION

Otter Properties (Kent) Limited 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Otter Properties (Kent) Limited (Registered number: 03567625)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 1,100,000
NET BOOK VALUE
At 31st March 2024 1,100,000
At 31st March 2023 1,100,000

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2007 399,170
Valuation in 2009 (80,000 )
Valuation in 2011 120,000
Valuation in 2017 380,000
Valuation in 2021 (120,000 )
Cost 400,830
1,100,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 400,830 400,830

Investment property was valued on an open market basis on 30th March 2024 by the directors .

The directors believe that there has been no change in the value of the property over the last 12 months.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 72 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 7,833 13,237
Other creditors 280,491 305,389
288,324 318,626

Otter Properties (Kent) Limited (Registered number: 03567625)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


7. RESERVES
Revaluation
reserve
£   
At 1st April 2023
and 31st March 2024 341,970

8. RELATED PARTY DISCLOSURES

Creditors falling due within one year include the following amount which is owed to the directors' of the company. There is no set repayment date for the loan accounts.

Mr D. Lee - £239,417
Mr M. Seabrook - £39,513

The Turnover received during the year was rent received from Neptune House Ltd, which the directors of this company hold the majority of shares in.