IRIS Accounts Production v23.4.0.336 03727446 director 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037274462022-03-31037274462023-03-31037274462022-04-012023-03-31037274462021-03-31037274462021-04-012022-03-31037274462022-03-3103727446ns15:EnglandWales2022-04-012023-03-3103727446ns14:PoundSterling2022-04-012023-03-3103727446ns10:Director12022-04-012023-03-3103727446ns10:PrivateLimitedCompanyLtd2022-04-012023-03-3103727446ns10:SmallEntities2022-04-012023-03-3103727446ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3103727446ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3103727446ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-3103727446ns10:FullAccounts2022-04-012023-03-3103727446ns10:CompanySecretary12022-04-012023-03-3103727446ns10:RegisteredOffice2022-04-012023-03-3103727446ns5:CurrentFinancialInstruments2023-03-3103727446ns5:CurrentFinancialInstruments2022-03-3103727446ns5:Non-currentFinancialInstruments2023-03-3103727446ns5:Non-currentFinancialInstruments2022-03-3103727446ns5:ShareCapital2023-03-3103727446ns5:ShareCapital2022-03-3103727446ns5:RevaluationReserve2023-03-3103727446ns5:RevaluationReserve2022-03-3103727446ns5:RetainedEarningsAccumulatedLosses2023-03-3103727446ns5:RetainedEarningsAccumulatedLosses2022-03-3103727446ns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-04-012023-03-3103727446ns5:FurnitureFittings2022-04-012023-03-3103727446ns5:LandBuildings2022-03-3103727446ns5:FurnitureFittings2022-03-3103727446ns5:LandBuildings2022-04-012023-03-3103727446ns5:LandBuildings2023-03-3103727446ns5:FurnitureFittings2023-03-3103727446ns5:LandBuildings2022-03-3103727446ns5:FurnitureFittings2022-03-3103727446ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103727446ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3103727446ns5:RevaluationReserve2022-03-31
REGISTERED NUMBER: 03727446 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

A O B (UK) LIMITED

A O B (UK) LIMITED (REGISTERED NUMBER: 03727446)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A O B (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: A O Badejo





SECRETARY: Mrs B B Badejo





REGISTERED OFFICE: 39 Whitehorse Road
Croydon
Surrey
CR0 2JG





REGISTERED NUMBER: 03727446 (England and Wales)





ACCOUNTANTS: Edwards Chartered Accountants
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

A O B (UK) LIMITED (REGISTERED NUMBER: 03727446)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,675,738 4,160,930

CURRENT ASSETS
Debtors 5 17,804 27,267
Cash at bank 1,986 4,507
19,790 31,774
CREDITORS
Amounts falling due within one year 6 716,508 499,998
NET CURRENT LIABILITIES (696,718 ) (468,224 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,979,020

3,692,706

CREDITORS
Amounts falling due after more than one
year

7

2,351,309

2,056,018
NET ASSETS 1,627,711 1,636,688

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 8 1,714,936 1,714,936
Retained earnings (87,227 ) (78,250 )
SHAREHOLDERS' FUNDS 1,627,711 1,636,688

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

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

A O B (UK) LIMITED (REGISTERED NUMBER: 03727446)

BALANCE SHEET - continued
31 MARCH 2023


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 28 March 2024 and were signed by:





A O Badejo - Director


A O B (UK) LIMITED (REGISTERED NUMBER: 03727446)

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

1. STATUTORY INFORMATION

A O B (UK) Limited 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.
Freehold property - not provided
Fixtures and fittings - 20% on cost

No depreciation is provided in respect of freehold properties held as investment properties, which are included in the balance sheet at open market value.

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 2 (2022 - 2 ) .

A O B (UK) LIMITED (REGISTERED NUMBER: 03727446)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 4,127,000 52,582 4,179,582
Additions 525,000 - 525,000
Disposals - (1,521 ) (1,521 )
At 31 March 2023 4,652,000 51,061 4,703,061
DEPRECIATION
At 1 April 2022 - 18,652 18,652
Charge for year - 10,192 10,192
Eliminated on disposal - (1,521 ) (1,521 )
At 31 March 2023 - 27,323 27,323
NET BOOK VALUE
At 31 March 2023 4,652,000 23,738 4,675,738
At 31 March 2022 4,127,000 33,930 4,160,930

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 2014 180,169 - 180,169
Valuation in 2015 63,400 - 63,400
Valuation in 2016 463,682 - 463,682
Valuation in 2017 310,000 - 310,000
Valuation in 2018 290,000 - 290,000
Valuation in 2020 109,185 - 109,185
Valuation in 2021 214,000 - 214,000
Valuation in 2022 84,500 - 84,500
Cost 2,937,064 51,061 2,988,125
4,652,000 51,061 4,703,061

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,937,064 2,412,064

Freehold land and buildings were valued on an open market basis on 31 March 2022 by the director .

A O B (UK) LIMITED (REGISTERED NUMBER: 03727446)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 17,804 27,267

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 3,605 4,662
Other creditors 702,903 485,336
716,508 499,998

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 2,351,309 2,056,018

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 2,330,545 2,024,351

8. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 1,714,936

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A O Badejo.