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REGISTERED NUMBER: 03820915 (England and Wales)















ORProperty Limited

Audited Financial Statements

for the Year Ended 30 April 2024






ORProperty Limited (Registered number: 03820915)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


ORProperty Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: M W Hamlin
Dr M A Hamlin


REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF


REGISTERED NUMBER: 03820915 (England and Wales)


SENIOR STATUTORY AUDITOR: Nigel Blannin


AUDITORS: Maxwells
Chartered Accountants
and Statutory Auditor
4 King Square
Bridgwater
Somerset
TA6 3YF


BANKERS: National Westminster Bank plc
7 High Street
Wells
Somerset
BA5 2AD

ORProperty Limited (Registered number: 03820915)

Abridged Statement of Financial Position
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 5,608,803 5,604,920

CURRENT ASSETS
Debtors 100,845 100,845
Cash at bank 6,960 28,187
107,805 129,032
CREDITORS
Amounts falling due within one year 3,070,114 3,056,967
NET CURRENT LIABILITIES (2,962,309 ) (2,927,935 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,646,494

2,676,985

CREDITORS
Amounts falling due after more than one
year

1,209,066

1,272,638
NET ASSETS 1,437,428 1,404,347

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 782,377 782,377
Retained earnings 654,951 621,870
SHAREHOLDERS' FUNDS 1,437,428 1,404,347

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





M W Hamlin - Director


ORProperty Limited (Registered number: 03820915)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

ORProperty Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared in accordance with applicable accounting standards and estimation techniques.

At the time of approving the financial statements the director has a reasonable expectation that the Company has adequate resources to continue in operation existence for the foreseeable future.

Turnover
Turnover consists wholly of rental income which is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Freehold investment properties are included at their open market value.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

ORProperty Limited (Registered number: 03820915)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 May 2023 5,777,126
Additions 8,148
At 30 April 2024 5,785,274
DEPRECIATION
At 1 May 2023 172,206
Charge for year 4,265
At 30 April 2024 176,471
NET BOOK VALUE
At 30 April 2024 5,608,803
At 30 April 2023 5,604,920

Cost or valuation at 30 April 2024 is represented by:

Totals
£   
Valuation in 2013 782,377
Cost 5,002,897
5,785,274

If freehold property had not been revalued it would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 4,809,365 4,809,365

Freehold property was valued on an open market value basis on 30 April 2024 by the Directors .

6. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 1,590,079 1,653,651

The bank loan is secured by a fixed charge over the property of the company and the directors life insurance policy.

ORProperty Limited (Registered number: 03820915)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. RESERVES
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 782,377

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nigel Blannin (Senior Statutory Auditor)
for and on behalf of Maxwells

9. RELATED PARTY DISCLOSURES

The company received rent of £148,000 (2023: £134,000) from Organisation Resource Limited during the year, a company controlled by M W Hamlin. At the year end the company owed Organisation Resource Limited £2,675,890 (2023: £2,631,812).

All transactions were at arms length and current market value.

10. ULTIMATE CONTROLLING PARTY

The company was controlled during the current and previous period by its directors M W and M A Hamlin, and members of their close family, who own all of the issued ordinary share capital.