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REGISTERED NUMBER: 08284708 (England and Wales)















Financial Statements for the Year Ended 29th November 2023

for

O & C Properties Ltd.

O & C Properties Ltd. (Registered number: 08284708)






Contents of the Financial Statements
for the Year Ended 29th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


O & C Properties Ltd.

Company Information
for the Year Ended 29th November 2023







DIRECTORS: M C Borland
O P Croom-Johnson
J N Borland
J R P Croom-Johnson





REGISTERED OFFICE: Second Floor
34 Lime Street
London
EC3M 7AT





REGISTERED NUMBER: 08284708 (England and Wales)





ACCOUNTANTS: Sampson Fielding Ltd
34 - 35 Clarges Street
Mayfair
London
W1J 7EJ

O & C Properties Ltd. (Registered number: 08284708)

Balance Sheet
29th November 2023

29/11/23 29/11/22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 11,449,256 11,370,256

CURRENT ASSETS
Debtors 5 - 10,116
Cash at bank 24,269 147,306
24,269 157,422
CREDITORS
Amounts falling due within one year 6 8,834,243 9,131,041
NET CURRENT LIABILITIES (8,809,974 ) (8,973,619 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,639,282 2,396,637

PROVISIONS FOR LIABILITIES 206,165 206,165
NET ASSETS 2,433,117 2,190,472

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 1,085,084 1,085,084
Retained earnings 1,347,933 1,105,288
SHAREHOLDERS' FUNDS 2,433,117 2,190,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th August 2024 and were signed on its behalf by:




O P Croom-Johnson - Director



M C Borland - Director


O & C Properties Ltd. (Registered number: 08284708)

Notes to the Financial Statements
for the Year Ended 29th November 2023

1. STATUTORY INFORMATION

O & C 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.

Turnover
Turnover represents net rent, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In accordance with FRS 102 1A no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

O & C Properties Ltd. (Registered number: 08284708)

Notes to the Financial Statements - continued
for the Year Ended 29th November 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30th November 2022 11,370,256
Additions 79,000
At 29th November 2023 11,449,256
NET BOOK VALUE
At 29th November 2023 11,449,256
At 29th November 2022 11,370,256

Fair value at 29th November 2023 is represented by:
£   
Valuation in 2015 7,353,000
Valuation in 2016 2,048,737
Valuation in 2017 88,254
Valuation in 2018 304,043
Valuation in 2019 72,141
Valuation in 2020 1,126,825
Valuation in 2021 377,256
Valuation in 2023 79,000
11,449,256

If investment properties had not been revalued they would have been included at the following historical cost:

29/11/23 29/11/22
£    £   
Cost 10,285,172 10,285,172

Investment properties were valued on an open market basis on 30th November 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/11/23 29/11/22
£    £   
Other debtors - 10,116

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/11/23 29/11/22
£    £   
Taxation and social security 76,039 62,726
Other creditors 8,758,204 9,068,315
8,834,243 9,131,041

7. RESERVES
Fair
value
reserve
£   
At 30th November 2022
and 29th November 2023 1,085,084