REGISTERED NUMBER: |
Octavia Chelsea Limited |
Unaudited Financial Statements |
for the Year Ended 31st December 2023 |
REGISTERED NUMBER: |
Octavia Chelsea Limited |
Unaudited Financial Statements |
for the Year Ended 31st December 2023 |
Octavia Chelsea Limited (Registered number: 07916837) |
Contents of the Financial Statements |
for the Year Ended 31st December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Octavia Chelsea Limited |
Company Information |
for the Year Ended 31st December 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Accountants |
4th Floor |
100 Fenchurch Street |
London |
EC3M 5JD |
Octavia Chelsea Limited (Registered number: 07916837) |
Statement of Financial Position |
31st December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Revaluation reserve |
Retained earnings |
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. |
Octavia Chelsea Limited (Registered number: 07916837) |
Statement of Financial Position - continued |
31st December 2023 |
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 |
Octavia Chelsea Limited (Registered number: 07916837) |
Notes to the Financial Statements |
for the Year Ended 31st December 2023 |
1. | Statutory information |
Octavia Chelsea Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition |
Turnover represents the total value of sales made during the year, excluding Value Added Tax. |
Investment property |
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. |
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. |
Operating leases |
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income. |
3. | Employees and directors |
The average number of employees during the year was |
Octavia Chelsea Limited (Registered number: 07916837) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2023 |
4. | Investment property |
Total |
£ |
Fair value |
At 1st January 2023 |
and 31st December 2023 |
Net book value |
At 31st December 2023 |
At 31st December 2022 |
Fair value at 31st December 2023 is represented by: |
£ |
Valuation in 2018 | 338,014 |
Valuation in 2021 | 1,914,156 |
Cost | 2,632,830 |
4,885,000 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
VAT |
Prepayments |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loan is secured against the company's investment property. |
Octavia Chelsea Limited (Registered number: 07916837) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2023 |
8. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |