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REGISTERED NUMBER: 13547757 (England and Wales)















OLD TOWN PROPERTY SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






OLD TOWN PROPERTY SERVICES LTD (REGISTERED NUMBER: 13547757)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OLD TOWN PROPERTY SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: N D Brennan





REGISTERED OFFICE: 16 Bowes Avenue
Margate
CT9 5EP





REGISTERED NUMBER: 13547757 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

OLD TOWN PROPERTY SERVICES LTD (REGISTERED NUMBER: 13547757)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 33,420 10,825

CURRENT ASSETS
Debtors 5 51,445 7,162
Cash at bank 232,648 87,289
284,093 94,451
CREDITORS
Amounts falling due within one year 6 (194,431 ) (63,714 )
NET CURRENT ASSETS 89,662 30,737
TOTAL ASSETS LESS CURRENT
LIABILITIES

123,082

41,562

CAPITAL AND RESERVES
Called up share capital 1 -
Retained earnings 7 123,081 41,562
123,082 41,562

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

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

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 5 February 2024 and were signed by:



N D Brennan - Director


OLD TOWN PROPERTY SERVICES LTD (REGISTERED NUMBER: 13547757)

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

1. STATUTORY INFORMATION

Old Town Property Services 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.

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, 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 - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

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

OLD TOWN PROPERTY SERVICES LTD (REGISTERED NUMBER: 13547757)

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

4. TANGIBLE FIXED ASSETS
Plant and Fixture & Motor
machinery Fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2022 2,000 1,504 10,830 14,334
Additions - 10,758 24,000 34,758
At 31 August 2023 2,000 12,262 34,830 49,092
DEPRECIATION
At 1 September 2022 300 501 2,708 3,509
Charge for year 255 3,878 8,030 12,163
At 31 August 2023 555 4,379 10,738 15,672
NET BOOK VALUE
At 31 August 2023 1,445 7,883 24,092 33,420
At 31 August 2022 1,700 1,003 8,122 10,825

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 7,162
Other debtors 51,445 -
51,445 7,162

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 11,682 53,454
Taxation and social security 45,480 10,260
Other creditors 137,269 -
194,431 63,714

7. RESERVES
Retained
earnings
£   

At 1 September 2022 41,562
Profit for the year 101,519
Dividends (20,000 )
At 31 August 2023 123,081