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COMPANY REGISTRATION NUMBER: 03900010
Overdale Properties (South Wales) Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Overdale Properties (South Wales) Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
Overdale Properties (South Wales) Limited
Officers and Professional Advisers
Director
Mr M D Chapman
Registered office
Millers Avenue
Brynmenyn Industrial Estate
Bridgend
CF32 9TD
Accountants
Clay Shaw Thomas Ltd
2 Oldfield Road
Bocam Park
Bridgend
CF35 5LJ
Overdale Properties (South Wales) Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
150,000
150,000
Current assets
Debtors
6
312,500
313,025
Creditors: amounts falling due within one year
7
13,691
12,583
---------
---------
Net current assets
298,809
300,442
---------
---------
Total assets less current liabilities
448,809
450,442
---------
---------
Net assets
448,809
450,442
---------
---------
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss account
447,809
449,442
---------
---------
Shareholders funds
448,809
450,442
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024 , and are signed on behalf of the board by:
Mr M D Chapman
Director
Company registration number: 03900010
Overdale Properties (South Wales) Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Millers Avenue, Brynmenyn Industrial Estate, Bridgend, CF32 9TD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents the amount of rental income received, net of VAT, on a straight line basis over the lease term.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Investment property
£
Valuation
At 1 January 2023 and 31 December 2023
150,000
---------
Depreciation
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
150,000
---------
At 31 December 2022
150,000
---------
The investment property is held at the Director's assessment of fair value at the reporting period to be £150,000 (2022: £150,000).
6. Debtors
2023
2022
£
£
Other debtors
312,500
313,025
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
13,691
12,583
--------
--------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------
9. Director's advances, credits and guarantees
Included within debtors are directors advances of £250,000 (2023: £250,000). There are no fixed terms of repayment or interest charged.
10. Ultimate controlling party
The ultimate controlling party is Mr M D Chapman who owns 66% of the called up share capital.