OFFSPRING HOMES LTD

Company Registration Number:
14291059 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2023

Period of accounts

Start date: 11 August 2022

End date: 31 August 2023

OFFSPRING HOMES LTD

Contents of the Financial Statements

for the Period Ended 31 August 2023

Balance sheet
Notes

OFFSPRING HOMES LTD

Balance sheet

As at 31 August 2023


Notes

13 months to 31 August 2023


£
Called up share capital not paid: 0
Fixed assets
Intangible assets:   0
Tangible assets: 3 359,078
Investments:   0
Total fixed assets: 359,078
Current assets
Stocks: 0
Debtors:   0
Cash at bank and in hand: 958
Investments:   0
Total current assets: 958
Creditors: amounts falling due within one year: 4 (367,986)
Net current assets (liabilities): (367,028)
Total assets less current liabilities: (7,950)
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Total net assets (liabilities): (7,950)
Capital and reserves
Called up share capital: 12
Share premium account: 0
Revaluation reserve: 0
Other reserves: 0
Profit and loss account: (7,962)
Shareholders funds: (7,950)

The notes form part of these financial statements

OFFSPRING HOMES LTD

Balance sheet statements

For the year ending 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 01 May 2024
and signed on behalf of the board by:

Name: Steven Bryen
Status: Director

The notes form part of these financial statements

OFFSPRING HOMES LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

OFFSPRING HOMES LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

2. Employees

13 months to 31 August 2023
Average number of employees during the period 0

OFFSPRING HOMES LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

3. Tangible Assets

Total
Cost £
Additions 359,078
Disposals 0
Revaluations 0
Transfers 0
At 31 August 2023 359,078
Depreciation
Charge for year 0
On disposals 0
Other adjustments 0
At 31 August 2023 0
Net book value
At 31 August 2023 359,078

Tangible Assets are sum of purchased asset (Property for development and re-sale) and Renovation Costs.

OFFSPRING HOMES LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

4. Creditors: amounts falling due within one year note

Creditors - Amounts Falling Due Within One YearAmounts Falling Due Within One YearThe company has the following creditors falling due within one year:Bridging Loan: As of 31st August the company has an outstanding bridging loan with Precise Mortgages with a balance of £367,985.94. The bridging loan is due for repayment on 26/01/2024.

OFFSPRING HOMES LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

5. Related party transactions

Name of the related party: Steven Bryen
Relationship:
Director
Description of the Transaction: Related Party TransactionsDuring the reporting period, the company engaged in the following transactions with related parties:Director's Contributions: The directors collectively contributed £50,000 to the company during the reporting period to support its operations and fund its activities. These contributions were made in the form of cash investments by the directors into the company.Steven Bryen - £25,000Shirley Ramchurn - £25,000
£
Balance at 31 August 2023 25,000
Name of the related party: Shirley Ramchurn
Relationship:
Director
Description of the Transaction: Related Party TransactionsDuring the reporting period, the company engaged in the following transactions with related parties:Director's Contributions: The directors collectively contributed £50,000 to the company during the reporting period to support its operations and fund its activities. These contributions were made in the form of cash investments by the directors into the company.Steven Bryen - £25,000Shirley Ramchurn - £25,000
£
Balance at 31 August 2023 25,000

OFFSPRING HOMES LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

6. Post balance sheet events

Post Balance Sheet EventsSubsequent to the balance sheet date of 31/08/2023, the following significant events have occurred:Sale of Property: On 19/01/2024, the company sold asset 682 Princes Road, Dartford for a total consideration of £410,000. The sale of the property resulted in financial losses for the company given initial investment in property, renovation and fees exceeded this price. Details of the sale and its impact on the financial statements will be reflected in the subsequent reporting period.