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REGISTERED NUMBER: 11362651 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Otterbrook Developments Ltd.

Otterbrook Developments Ltd. (Registered number: 11362651)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Otterbrook Developments Ltd.

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Mr M F Mitchell





REGISTERED OFFICE: 1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS





REGISTERED NUMBER: 11362651 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

Otterbrook Developments Ltd. (Registered number: 11362651)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,060 -
Investments 6 1,337,122 1,097,999
Investment property 7 1,000,000 -
2,338,182 1,097,999

CURRENT ASSETS
Debtors 8 286,399 1,112,915
Cash at bank 43,357 623,189
329,756 1,736,104
CREDITORS
Amounts falling due within one year 9 42,015 121,200
NET CURRENT ASSETS 287,741 1,614,904
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,625,923

2,712,903

PROVISIONS FOR LIABILITIES 10,416 -
NET ASSETS 2,615,507 2,712,903

CAPITAL AND RESERVES
Called up share capital 10 150 150
Non distributable reserve 11 31,219 5,480
Retained earnings 2,584,138 2,707,273
SHAREHOLDERS' FUNDS 2,615,507 2,712,903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Otterbrook Developments Ltd. (Registered number: 11362651)

Balance Sheet - continued
30 November 2023


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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:





Mr M F Mitchell - Director


Otterbrook Developments Ltd. (Registered number: 11362651)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Otterbrook Developments 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 the company's share of the profits of the partnership.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business is being amortised in full on acquisition.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

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.

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.

Otterbrook Developments Ltd. (Registered number: 11362651)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022 27,037
Additions 71,834
At 30 November 2023 98,871
AMORTISATION
At 1 December 2022 27,037
Charge for year 71,834
At 30 November 2023 98,871
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 1,137
At 30 November 2023 1,137
DEPRECIATION
Charge for year 77
At 30 November 2023 77
NET BOOK VALUE
At 30 November 2023 1,060

Otterbrook Developments Ltd. (Registered number: 11362651)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. FIXED ASSET INVESTMENTS
Interest
in Other
associate investments Totals
£    £    £   
COST OR VALUATION
At 1 December 2022 50 1,097,949 1,097,999
Additions - 769,101 769,101
Disposals - (566,123 ) (566,123 )
Revaluations - 36,145 36,145
At 30 November 2023 50 1,337,072 1,337,122
NET BOOK VALUE
At 30 November 2023 50 1,337,072 1,337,122
At 30 November 2022 50 1,097,949 1,097,999

Cost or valuation at 30 November 2023 is represented by:

Interest
in Other
associate investments Totals
£    £    £   
Valuation in 2023 - 157,103 157,103
Cost 50 1,179,969 1,180,019
50 1,337,072 1,337,122

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,000,000
At 30 November 2023 1,000,000
NET BOOK VALUE
At 30 November 2023 1,000,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 253,423 711,917
Directors' current accounts 31,626 400,998
Prepayments and accrued income 1,350 -
286,399 1,112,915

Otterbrook Developments Ltd. (Registered number: 11362651)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 14,519 -
Tax 2,959 106,194
VAT 1,827 -
Other creditors 6,432 5,806
Accruals and deferred income 16,278 9,200
42,015 121,200

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
150 Ordinary 1 150 150

11. RESERVES
Non
distributable
reserve
£   
At 1 December 2022 5,480
Non distributable reserve 25,739

At 30 November 2023 31,219

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 November 2023 and the period ended 30 November 2022:

2023 2022
£    £   
Mr M F Mitchell
Balance outstanding at start of year 400,998 -
Amounts advanced 213,314 3,240,513
Amounts repaid (582,686 ) (2,839,515 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,626 400,998

The director's loan account was repaid within nine months of the year end. Interest was charged on the overdrawn director's loan account at HM Revenue & Customs official rate of interest during the year being 2% per annum to 5th April 2023 and 2.25% thereafter.