Silverfin false false 30/06/2023 01/07/2022 30/06/2023 D Lloyd 24/03/2004 30 July 2024 The principal activity of the Company during the financial year was rental of a residential property. 05083265 2023-06-30 05083265 bus:Director1 2023-06-30 05083265 2022-06-30 05083265 core:CurrentFinancialInstruments 2023-06-30 05083265 core:CurrentFinancialInstruments 2022-06-30 05083265 core:Non-currentFinancialInstruments 2023-06-30 05083265 core:Non-currentFinancialInstruments 2022-06-30 05083265 core:ShareCapital 2023-06-30 05083265 core:ShareCapital 2022-06-30 05083265 core:RetainedEarningsAccumulatedLosses 2023-06-30 05083265 core:RetainedEarningsAccumulatedLosses 2022-06-30 05083265 core:CostValuation 2022-06-30 05083265 core:CostValuation 2023-06-30 05083265 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-06-30 05083265 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-06-30 05083265 bus:OrdinaryShareClass1 2023-06-30 05083265 2022-07-01 2023-06-30 05083265 bus:FilletedAccounts 2022-07-01 2023-06-30 05083265 bus:SmallEntities 2022-07-01 2023-06-30 05083265 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 05083265 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05083265 bus:Director1 2022-07-01 2023-06-30 05083265 2021-07-01 2022-06-30 05083265 core:Non-currentFinancialInstruments 2022-07-01 2023-06-30 05083265 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 05083265 bus:OrdinaryShareClass1 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05083265 (England and Wales)

ORIGIN PROPERTY MANAGEMENT LTD

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

ORIGIN PROPERTY MANAGEMENT LTD

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

ORIGIN PROPERTY MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
ORIGIN PROPERTY MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 0 250,000
Investments 4 1,384 1,384
1,384 251,384
Current assets
Debtors 5 100,264 13,254
Cash at bank and in hand 144 331
100,408 13,585
Creditors: amounts falling due within one year 6 ( 86,614) ( 105,804)
Net current assets/(liabilities) 13,794 (92,219)
Total assets less current liabilities 15,178 159,165
Creditors: amounts falling due after more than one year 7 0 ( 161,165)
Net assets/(liabilities) 15,178 ( 2,000)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 15,078 ( 2,100 )
Total shareholder's funds/(deficit) 15,178 ( 2,000)

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Origin Property Management Ltd (registered number: 05083265) were approved and authorised for issue by the Director on 30 July 2024. They were signed on its behalf by:

D Lloyd
Director
ORIGIN PROPERTY MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
ORIGIN PROPERTY MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Origin Property Management Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Delta Place, 27 Bath Road, Cheltenham, GL53 7TH, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

During the period, the company sold its investment property and so has no further source of income. Assets have been written down to amounts expected to be recoverable and the accounts have been prepared on this basis. The company is supported by loans from a connected company and the director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements, and the connected company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Investment property

Investment property
£
Valuation
As at 01 July 2022 250,000
Disposals (250,000)
As at 30 June 2023 0

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 July 2022 1,384 1,384
At 30 June 2023 1,384 1,384
Carrying value at 30 June 2023 1,384 1,384
Carrying value at 30 June 2022 1,384 1,384

Other investments comprise listed investments at fair value and other investments at cost less impairment.

5. Debtors

2023 2022
£ £
Amounts owed by director 74,949 8,325
Corporation tax 25,215 2,729
Other debtors 100 2,200
100,264 13,254

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 1,400
Trade creditors 6,052 4,498
Amounts owed to related parties 56,522 92,746
Accruals 1,554 5,960
Taxation and social security 22,486 0
Other creditors 0 1,200
86,614 105,804

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 161,165

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and not yet paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's director

At the balance sheet date, the company was owed £74,949 by its director (2022: £8,325). Interest has been charged at 2%/2.25% and the loan is repayable on demand.