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 |