Company registration number 11185920 (England and Wales)
OWBRUK HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
OWBRUK HOLDINGS LIMITED
COMPANY INFORMATION
Director
Mr J Sharrock
Company number
11185920
Registered office
Laurel House
173 Chorley New Road
Bolton
United Kingdom
BL1 4QZ
Accountants
Azets
Laurel House
173 Chorley New Road
Bolton
United Kingdom
BL1 4QZ
OWBRUK HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
OWBRUK HOLDINGS LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
375,453
334,544
Current assets
Debtors
5
100
100
Cash at bank and in hand
-
0
174
100
274
Creditors: amounts falling due within one year
6
(297,428)
(332,720)
Net current liabilities
(297,328)
(332,446)
Net assets
78,125
2,098
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
78,025
1,998
Total equity
78,125
2,098

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 23 February 2024
Mr J Sharrock
Director
Company Registration No. 11185920
OWBRUK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information

Owbruk Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Laurel House, 173 Chorley New Road, Bolton, United Kingdom, BL1 4QZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Income

The company generates income from its portfolio of investments.

 

Returns on fixed asset investments are dividends and interest receivable which are recognised in the profit and loss account as Interest receivable and other income.

1.4
Fixed asset investments

The company holds a portfolio of assets which are publically traded. The listed investments are initially recognised at cost and subsequently measured at fair value at the year end, with any changes in valuation being processed through the profit and loss account.

 

Any disposals of the listed investments may cause a gain or loss to arise, which is also recognised in the profit and loss account.

 

Listed investments are classified as non-current as they are held within an investment portfolio and intended to be held for a period greater than 12 months.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

OWBRUK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 3 -
1.6
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 of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 creditors, bank loans, loans from fellow group companies and preference shares that are classified 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. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
OWBRUK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
3
Fixed asset investments
2023
2022
£
£
Other investments other than loans
375,453
334,544
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 March 2022
334,544
Valuation changes
69,222
Disposals
(28,313)
At 28 February 2023
375,453
Carrying amount
At 28 February 2023
375,453
At 28 February 2022
334,544
4
Financial instruments
2023
2022
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
375,453
334,544
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
100
100
6
Creditors: amounts falling due within one year
2023
2022
£
£
Director's current account
291,888
330,080
Accruals and deferred income
5,540
2,640
297,428
332,720
OWBRUK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
90
90
90
90
Ordinary B of £1 each
5
5
5
5
Ordinary C of £1 each
5
5
5
5
100
100
100
100
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