Registered number
10162882
ORANGE TREE PROPERTY MANAGEMENT & LETTINGS LTD
Filleted Accounts
31 May 2023
ORANGE TREE PROPERTY MANAGEMENT & LETTINGS LTD
Registered number: 10162882
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 784,532 583,956
Creditors: amounts falling due within one year 4 (221,831) (58,953)
Net current liabilities (221,831) (58,953)
Total assets less current liabilities 562,701 525,003
Creditors: amounts falling due after more than one year 5 (445,155) (453,755)
Net assets 117,546 71,248
Capital and reserves
Called up share capital 1 1
Profit and loss account 117,545 71,247
Shareholder's funds 117,546 71,248
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms L Donegan
Director
Approved by the board on 23 February 2024
ORANGE TREE PROPERTY MANAGEMENT & LETTINGS LTD
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of gross property rentals and property management fees receivable.
Investment properties
Investment properties are not depreciated and are stated in the accounts at fair value. Any surplus or deficit in arriving at the fair value is dealt with through the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment property
£
Cost
At 1 June 2022 583,956
Additions 200,576
At 31 May 2023 784,532
Depreciation
At 31 May 2023 -
Net book value
At 31 May 2023 784,532
At 31 May 2022 583,956
Freehold land and buildings: 2023 2022
£ £
Historical cost 784,532 583,956
Cumulative depreciation based on historical cost - -
784,532 583,956
In the opinion of the director the fair value of the investment property as at the balance sheet date does not vary significantly from the actual cost of the property as stated above.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 18,913 14,226
Taxation and social security costs 19,085 18,249
Other creditors 183,833 26,478
221,831 58,953
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 445,155 453,755
6 Other information
ORANGE TREE PROPERTY MANAGEMENT & LETTINGS LTD is a private company limited by shares and incorporated in England. Its registered office is:
26 Hillfield Park
London
N21 3QH
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