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REGISTERED NUMBER: 03001396 (England and Wales)









OCCUPYEARLY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






OCCUPYEARLY LIMITED (REGISTERED NUMBER: 03001396)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


OCCUPYEARLY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D Scantlebury
H Scantlebury
D J Daley





REGISTERED OFFICE: 41 Furzehatt Road
Plymstock
Plymouth
Devon
PL9 8QX





REGISTERED NUMBER: 03001396 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

OCCUPYEARLY LIMITED (REGISTERED NUMBER: 03001396)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 750,000 750,000

CURRENT ASSETS
Debtors 3,573 3,080
Cash at bank 10,630 53,746
14,203 56,826
CREDITORS
Amounts falling due within one year 31,306 36,111
NET CURRENT (LIABILITIES)/ASSETS (17,103 ) 20,715
TOTAL ASSETS LESS CURRENT LIABILITIES 732,897 770,715

CREDITORS
Amounts falling due after more than one year (58,333 ) (128,032 )

PROVISIONS FOR LIABILITIES (65,286 ) (65,286 )
NET ASSETS 609,278 577,397

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 609,276 577,395
609,278 577,397

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

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

OCCUPYEARLY LIMITED (REGISTERED NUMBER: 03001396)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


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 Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:




D Scantlebury - Director



D J Daley - Director


OCCUPYEARLY LIMITED (REGISTERED NUMBER: 03001396)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Occupyearly 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.

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


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.

Turnover
Turnover represents the gross rental income receivable by the company for the year.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price, less any impairment.

Investment property
In accordance with FRS 102, investment properties are included in the financial statements initially at cost, and are subsequently reviewed at each reporting date to ensure they are carried at fair value in the financial statements..

Any movements in the fair value of investment properties at each reporting date are recognised in the profit and loss account. This revaluation is omitted when calculating the chargeable profits for taxation however the revalued amount is taken into consideration for deferred capital gains tax.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

OCCUPYEARLY LIMITED (REGISTERED NUMBER: 03001396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 750,000
NET BOOK VALUE
At 31 December 2023 750,000
At 31 December 2022 750,000

Cost or valuation at 31 December 2023 is represented by:

Totals
£   
Valuation in 2006 10,656
Valuation in 2008 210,538
Valuation in 2014 40,000
Cost 488,806
750,000

There was a professional revaluation conducted in a previous year. The property portfolio was valued at £750,000 so the value within the financial statements remains the same (2022: £750,000).

The original cost of the property portfolio was £488,806.

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 78,333 147,588

This loan is secured against the assets of the company, namely the property owned.