Registered number
04063489
Ouhla Properties Limited
Accounts for the year ended
31 October 2023
Ouhla Properties Limited
Registered number: 04063489
Balance Sheet as at 31st October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,600 4,800
Investments 4 18,000,000 18,620,000
18,003,600 18,624,800
Current assets
Debtors 5 637,653 534,778
Cash at bank and in hand 782,107 250,694
1,419,760 785,472
Creditors: amounts falling due within one year 6 (273,337) (255,826)
Net current assets 1,146,423 529,646
Total assets less current liabilities 19,150,023 19,154,446
Provisions for liabilities (1,285,597) (1,034,460)
Net assets 17,864,426 18,119,986
Capital and reserves
Called up share capital 132 132
Revaluation reserve 12,606,779 13,253,607
Profit and loss account 5,257,515 4,866,247
Shareholders' funds 17,864,426 18,119,986
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of the accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
F Ouhla
Director
Approved by the board on 23 August 2024
Ouhla Properties Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost of each asset as follows:
Plant and machinery
Depreciation is not provided on freehold or investment properties.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of gains and losses in the financial statements and their inclusion in tax assessments. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 5
3 Tangible fixed assets
Total
£
Cost
At 1 November 2022 60,926
Additions -
At 31 October 2023 60,926
Depreciation
At 1 November 2022 56,126
Charge for the year 1,200
At 31 October 2023 57,326
Net book value
At 31 October 2023 3,600
At 31 October 2022 4,800
4 Investments
Freehold
Investment
Property
£
Valuation
At 1 November 2022 18,620,000
Additions - 47,124
Revaluation (47,124)
Disposals (620,000)
At 31 October 2023 18,000,000
Historical cost
At 1 November 2022 10,711,723
At 31 October 2023 10,081,399
Freehold investment properties were revalued by the directors as at 31st October 2023 to reflect their open market value. Tax of approximately £ 1,284,697 would be payable if the properties were to be sold at these values.
5 Debtors 2023 2022
£ £
Trade debtors - 28,125
Other debtors 637,653 506,653
637,653 534,778
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - -
Trade creditors 96,417 97,033
Taxation and social security costs 138,596 122,304
Other creditors 38,324 36,489
273,337 255,826
7 Related party transactions
Loan to M Ouhla
Amount due from the estate of M Ouhla 1,077,886 932,886
The loan is accruing interest of 3.75% p.a.
8 Controlling party
The ultimate controlling parties are F. Ouhla, K. Ouhla, Z. Nazir, & A Ouhla who are all equal shareholders.
9 Other information
Ouhla Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Berwyn
39 Hoadly Road
London
SW16 1AE
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