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REGISTERED NUMBER: 03712788 (England and Wales)















Owlcourt Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Owlcourt Limited (Registered number: 03712788)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Owlcourt Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs S Simmonds
Mrs N Slade



REGISTERED OFFICE: Maxwells Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 03712788 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: HSBC Bank plc
30 High Street
Weston-super-Mare
North Somerset
BS23 1JE

Owlcourt Limited (Registered number: 03712788)

Abridged Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 296,596 338,944

CURRENT ASSETS
Stocks 6,528 7,629
Debtors 20,464 20,464
Cash at bank 27,821 59,229
54,813 87,322
CREDITORS
Amounts falling due within one year 160,362 187,347
NET CURRENT LIABILITIES (105,549 ) (100,025 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,047

238,919

CREDITORS
Amounts falling due after more than one
year

(15,351

)

(25,241

)

PROVISIONS FOR LIABILITIES (3,500 ) (3,000 )
NET ASSETS 172,196 210,678

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 172,096 210,578
SHAREHOLDERS' FUNDS 172,196 210,678

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Owlcourt Limited (Registered number: 03712788)

Abridged Statement of Financial Position - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

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





Mrs S Simmonds - Director


Owlcourt Limited (Registered number: 03712788)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Owlcourt 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in accordance with applicable accounting standards and estimation techniques.

At the time of approving the financial statements the directors have a reasonable expectation that the Company has adequate resources to continue in operation existence for the foreseeable future.

The directors therefore deem the Company to continue as a going concern.

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.
Land and buildings - 4% on cost
Plant and machinery etc - 33% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Owlcourt Limited (Registered number: 03712788)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 24 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 1,355,900
Additions 1,490
At 31 December 2023 1,357,390
DEPRECIATION
At 1 January 2023 1,016,956
Charge for year 43,838
At 31 December 2023 1,060,794
NET BOOK VALUE
At 31 December 2023 296,596
At 31 December 2022 338,944

Included in cost of land and buildings is freehold land of £ 120,000 (2022 - £ 120,000 ) which is not depreciated.

6. ULTIMATE CONTROLLING PARTY

The controlling party is Bay Side Hotel Limited.

The ultimate controlling party is Mrs S Simmonds.