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REGISTERED NUMBER: 08144548 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

OGI PROPERTIES LTD

OGI PROPERTIES LTD (REGISTERED NUMBER: 08144548)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OGI PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mrs R Ogilvie
Dr M P Ogilvie





REGISTERED OFFICE: 2 Mccarthy Avenue
Sturry
Canterbury
Kent
CT2 0PE





REGISTERED NUMBER: 08144548 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Charlton House
Dour Street
DOVER
Kent
CT16 1BL

OGI PROPERTIES LTD (REGISTERED NUMBER: 08144548)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,290,000 1,174,063

CURRENT ASSETS
Cash at bank 102 -

CREDITORS
Amounts falling due within one year 5 939,353 806,514
NET CURRENT LIABILITIES (939,251 ) (806,514 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

350,749

367,549

PROVISIONS FOR LIABILITIES 8 101,759 101,759
NET ASSETS 248,990 265,790

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 305,275 305,275
Retained earnings (57,285 ) (40,485 )
248,990 265,790

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:




Dr M P Ogilvie - Director


OGI PROPERTIES LTD (REGISTERED NUMBER: 08144548)

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

1. STATUTORY INFORMATION

Ogi Properties Ltd 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.

Tangible fixed assets
The company's freehold property is an investment property. Investment properties are accounted for in accordance with FRS 102 section 1A "Small Entities", as follows:

Investment properties are measured at fair value at the balance sheet date. Changes in fair value are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold. Annual depreciation is not provided on investment properties.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

OGI PROPERTIES LTD (REGISTERED NUMBER: 08144548)

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

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1 August 2022 1,174,063
Additions 115,937
At 31 July 2023 1,290,000
NET BOOK VALUE
At 31 July 2023 1,290,000
At 31 July 2022 1,174,063

At the year end the directors valued the freehold investment property on an open market basis at £1,290,000.

Cost or valuation at 31 July 2023 is represented by:

Freehold
property
£   
Valuation in 2023 407,034
Cost 882,966
1,290,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 6) - 83
Other loans (see note 6) 770,000 697,000
Sundry creditors 64,719 26,797
Directors' current accounts 104,634 82,634
939,353 806,514

6. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 83
Sundry loan 770,000 697,000
770,000 697,083

OGI PROPERTIES LTD (REGISTERED NUMBER: 08144548)

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

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Sundry loan 770,000 697,000

The sundry loan is secured by way of a legal charge on the company's freehold property. The company re-financed its borrowings after the year end.

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 101,759 101,759

Deferred
tax
£   
Balance at 1 August 2022 101,759
Balance at 31 July 2023 101,759

9. GOING CONCERN

The directors believe the company is a going concern given the continued support of the shareholders and the loan that is in place.