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REGISTERED NUMBER: 13256029 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Olsam Property Ltd

Olsam Property Ltd (Registered number: 13256029)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

Olsam Property Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs S C Crooks
O W Crooks
S M Crooks





REGISTERED OFFICE: Home Farm
Park Lane
Castle Donington
Derbyshire
DE74 2RS





REGISTERED NUMBER: 13256029 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Olsam Property Ltd (Registered number: 13256029)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 70,032
Investment property 5 439,877 -
439,877 70,032

CURRENT ASSETS
Debtors 6 303,050 212,027
Cash at bank 145,850 266,161
448,900 478,188
CREDITORS
Amounts falling due within one year 7 (875,927 ) (547,988 )
NET CURRENT LIABILITIES (427,027 ) (69,800 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,850

232

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 12,750 132
SHAREHOLDERS' FUNDS 12,850 232

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:



Mrs S C Crooks - Director


Olsam Property Ltd (Registered number: 13256029)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Olsam Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023 70,032
Reclassification/transfer (70,032 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 70,032

Olsam Property Ltd (Registered number: 13256029)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 369,845
Reclassification/transfer 70,032
At 31 March 2024 439,877
NET BOOK VALUE
At 31 March 2024 439,877

Included in fair value of investment property is freehold land of £ 10,000 which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,000 -
Amounts owed by participating interests 300,000 200,000
Other debtors 50 12,027
303,050 212,027

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 216 35,220
Taxation and social security 2,835 120
Other creditors 872,876 512,648
875,927 547,988

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

Mrs S C Crooks
Director


The director Mrs S C Crooks has given a loan to the company of £872,298, which they are not going to withdraw until the company has sufficient funds to repay without affecting the cashflow of the company.


Loan outstanding from British & Continental Finance Co. Ltd at the year end of £300,000 (2023 - £200,000).
The directors Mr O W Crooks and Mr S M Crooks are directors of British & Continental Finance Co. Ltd.
This loan is repayable on demand and interest of £15,000 has been charged for the year ended 31 March 2024.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Olsam Property Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Olsam Property Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Olsam Property Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Olsam Property Ltd and state those matters that we have agreed to state to the Board of Directors of Olsam Property Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Olsam Property Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Olsam Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Olsam Property Ltd. You consider that Olsam Property Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Olsam Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


4 September 2024