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REGISTERED NUMBER: 07916837 (England and Wales)
















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: Mr R I Meins
Mr J G Palin





Registered office: Octavia House
1 The Boulevard
Imperial Wharf
London
SW6 2UB





Registered number: 07916837 (England and Wales)





Accountants: Wilson Stevens
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 4,885,000 4,885,000

Current assets
Debtors 5 - 18,475
Cash at bank 119,314 88,491
119,314 106,966
Creditors
Amounts falling due within one year 6 796,690 752,842
Net current liabilities (677,376 ) (645,876 )
Total assets less current liabilities 4,207,624 4,239,124

Creditors
Amounts falling due after more than one
year

7

(150,000

)

(400,000

)

Provisions for liabilities (464,311 ) (464,311 )
Net assets 3,593,313 3,374,813

Capital and reserves
Called up share capital 1,500 1,500
Revaluation reserve 1,787,859 1,787,859
Retained earnings 1,803,954 1,585,454
3,593,313 3,374,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

Octavia Chelsea Limited (Registered number: 07916837)

Statement of Financial Position - continued
31st December 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 Board of Directors and authorised for issue on 20th September 2024 and were signed on its behalf by:





Mr J G Palin - Director


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 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.

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 2 (2022 - 3 ) .

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 4,885,000
Net book value
At 31st December 2023 4,885,000
At 31st December 2022 4,885,000

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 - 3,079
Prepayments - 15,396
- 18,475

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 1,858 -
Taxation and social security 84,517 45,582
Other creditors 710,315 707,260
796,690 752,842

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 150,000 400,000

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 317,550 317,550
Between one and five years 793,875 1,111,425
1,111,425 1,428,975