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REGISTERED NUMBER: 09705597 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

O'DONNELL HOLDINGS LIMITED

O'DONNELL HOLDINGS LIMITED (REGISTERED NUMBER: 09705597)






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


O'DONNELL HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: D O'Donnell
Mrs L Hookway





REGISTERED OFFICE: Contract House
1A Bates Industrial Estate
Church Road
Harold Wood
Essex
RM3 0HU





REGISTERED NUMBER: 09705597 (England and Wales)

O'DONNELL HOLDINGS LIMITED (REGISTERED NUMBER: 09705597)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 18,353 24,471
Investments 5 100 100
Investment property 6 1,587,252 1,500,000
1,605,705 1,524,571

CURRENT ASSETS
Debtors 7 95,426 10,806
Cash at bank and in hand 56,457 33,154
151,883 43,960
CREDITORS
Amounts falling due within one year 8 49,023 94,856
NET CURRENT ASSETS/(LIABILITIES) 102,860 (50,896 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,708,565

1,473,675

CREDITORS
Amounts falling due after more than one
year

9

(458,983

)

(306,664

)

PROVISIONS FOR LIABILITIES (233,894 ) (178,922 )
NET ASSETS 1,015,688 988,089

CAPITAL AND RESERVES
Called up share capital 200 200
Fair value reserve 687,926 742,960
Retained earnings 327,562 244,929
1,015,688 988,089

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 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.

O'DONNELL HOLDINGS LIMITED (REGISTERED NUMBER: 09705597)

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 Board of Directors and authorised for issue on 24 January 2024 and were signed on its behalf by:




D O'Donnell - Director



Mrs L Hookway - Director


O'DONNELL HOLDINGS LIMITED (REGISTERED NUMBER: 09705597)

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

1. STATUTORY INFORMATION

O'Donnell Holdings Limited is a private company, registered by shares, registered in England and Wales. The company's registered number is 09705597 and the registered office address is Contract House 1a Bates Industrial Estate, Church Road, Harold Wood, Essex, England, RM3 0HU

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.

Preparation of consolidated financial statements
The company and it's subsidiary company form a small group. The company is therefore not required to produce consolidated financial statements and has not done so.These financial statements present information about the company as a single entity.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

O'DONNELL HOLDINGS LIMITED (REGISTERED NUMBER: 09705597)

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

2. ACCOUNTING POLICIES - continued
Basic financial assets
Basic financial assets, which includes trade and other debtors, 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that as a result of one or more events that occurred after an initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and preference shares classed as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire

Equity Instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.


O'DONNELL HOLDINGS LIMITED (REGISTERED NUMBER: 09705597)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 April 2022
and 31 March 2023 82,130
DEPRECIATION
At 1 April 2022 57,659
Charge for year 6,118
At 31 March 2023 63,777
NET BOOK VALUE
At 31 March 2023 18,353
At 31 March 2022 24,471

O'DONNELL HOLDINGS LIMITED (REGISTERED NUMBER: 09705597)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 April 2022
and 31 March 2023 100
NET BOOK VALUE
At 31 March 2023 100
At 31 March 2022 100

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2022 1,500,000
Additions 87,252
At 31 March 2023 1,587,252
NET BOOK VALUE
At 31 March 2023 1,587,252
At 31 March 2022 1,500,000

Fair value at 31 March 2023 is represented by:
£
Valuation in 2021 1,500,000
Valuation in 2023 87,252
1,587,252

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

2023 2022
£ £
Cost 582,766 582,766

Investment property was valued on an open market basis on 31 March 2021 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 42,870 -
Amounts owed by group undertakings 34,434 -
Other debtors 18,122 10,806
95,426 10,806

O'DONNELL HOLDINGS LIMITED (REGISTERED NUMBER: 09705597)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 23,388 11,500
Trade creditors 13,812 712
Amounts owed to group undertakings - 70,489
Taxation and social security 10,274 10,705
Other creditors 1,549 1,450
49,023 94,856

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 458,983 306,664

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 352,983 259,664

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 482,371 318,164

The bank loan is secured over the investment property.

Hire purchase is secured over the assets to which they relate.