2023-02-012024-01-312024-01-31false09945433OUTLOOK PROPERTIES 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OUTLOOK PROPERTIES LTD

Registered Number
09945433
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

OUTLOOK PROPERTIES LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

HUTTON, Lisa Clair
PARTON, Derek Alfred

Company Secretary

HUTTON, Lisa Clair

Registered Address

Falcondale Mansion Hotel
Falcondale Drive
Lampeter
SA48 7RX

Registered Number

09945433 (England and Wales)
OUTLOOK PROPERTIES LTD
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property3160,000160,000
160,000160,000
Current assets
Cash at bank and on hand39,24632,868
39,24632,868
Creditors amounts falling due within one year4(105,928)(107,068)
Net current assets (liabilities)(66,682)(74,200)
Total assets less current liabilities93,31885,800
Provisions for liabilities5(8,360)(8,360)
Net assets84,95877,440
Capital and reserves
Called up share capital33
Profit and loss account84,95577,437
Shareholders' funds84,95877,440
The financial statements were approved and authorised for issue by the Board of Directors on 14 March 2024, and are signed on its behalf by:
HUTTON, Lisa Clair
Director
Registered Company No. 09945433
OUTLOOK PROPERTIES LTD
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on a going concern basis.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year00
3.Investment property

£
Fair value at 01 February 23160,000
At 31 January 24160,000
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security1,7633,193
Other creditors103,364103,104
Accrued liabilities and deferred income801771
Total105,928107,068
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.
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)8,3608,360
Total8,3608,360
6.Related party transactions
Included in other creditors is £103,364 (2022: £103,104) owed by the company to its directors. No interest is charged and the amount is repayable on demand.