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REGISTERED NUMBER: 11415485 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

OURCITY DEVELOPMENTS LTD

OURCITY DEVELOPMENTS LTD (REGISTERED NUMBER: 11415485)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OURCITY DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: W Onderski





REGISTERED OFFICE: 34 Stanley Road
Hornchurch
RM12 4JN





REGISTERED NUMBER: 11415485 (England and Wales)





ACCOUNTANTS: J.Dauman Finance Ltd
Chartered Accountants
Craven House
Ground Floor
40-44 Uxbridge Road
Ealing
London
W5 2BS

OURCITY DEVELOPMENTS LTD (REGISTERED NUMBER: 11415485)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,348,019 1,100,000
1,348,019 1,100,000

CURRENT ASSETS
Cash at bank and in hand 23,923 72,883

CREDITORS
Amounts falling due within one year 6 214,967 1,112
NET CURRENT (LIABILITIES)/ASSETS (191,044 ) 71,771
TOTAL ASSETS LESS CURRENT LIABILITIES 1,156,975 1,171,771

CREDITORS
Amounts falling due after more than one year 7 872,385 877,996
NET ASSETS 284,590 293,775

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 284,490 293,675
284,590 293,775

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 21 December 2023 and were signed by:





W Onderski - Director


OURCITY DEVELOPMENTS LTD (REGISTERED NUMBER: 11415485)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Ourcity Developments 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 as modified by the revaluation of certain assets.

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 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

OURCITY DEVELOPMENTS LTD (REGISTERED NUMBER: 11415485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 794
Disposals (794 )
At 30 June 2023 -
DEPRECIATION
At 1 July 2022 794
Eliminated on disposal (794 )
At 30 June 2023 -
NET BOOK VALUE
At 30 June 2023 -

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 July 2022 1,100,000
Additions 248,019
At 30 June 2023 1,348,019
NET BOOK VALUE
At 30 June 2023 1,348,019
At 30 June 2022 1,100,000

Cost or valuation at 30 June 2023 is represented by:
£   
Valuation in 2020 276,809
Cost 1,071,210
1,348,019

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 119 49
Taxation and social security 479 479
Other creditors 214,369 584
214,967 1,112

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 872,385 877,996

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 833,040 833,040