Oyster Mutual Properties Limited
Unaudited Financial Statements
For the year ended 30 June 2024
Pages for Filing with Registrar
Company Registration No. 06323967 (England and Wales)
Oyster Mutual Properties Limited
Company Information
Directors
J. J. Suett
R. M. Suett
Company number
06323967
Registered office
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Oyster Mutual Properties Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
Oyster Mutual Properties Limited
Balance Sheet
As at 30 June 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
3
420,000
420,000
Current assets
Cash at bank and in hand
21,626
13,399
Creditors: amounts falling due within one year
4
(160,137)
(161,772)
Net current liabilities
(138,511)
(148,373)
Total assets less current liabilities
281,489
271,627
Provisions for liabilities
(20,096)
(20,096)
Net assets
261,393
251,531
Capital and reserves
Called up share capital
5
100
100
Revaluation reserve
148,151
148,151
Profit and loss reserves
113,142
103,280
Total equity
261,393
251,531

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Oyster Mutual Properties Limited
Balance Sheet (Continued)
As at 30 June 2024
Page 2

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 September 2024 and are signed on its behalf by:
J. J. Suett
R. M. Suett
Director
Director
Company Registration No. 06323967
Oyster Mutual Properties Limited
Statement of Changes in Equity
For the year ended 30 June 2024
Page 3
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 July 2022
100
153,382
94,119
247,601
Year ended 30 June 2023:
Profit for the year
-
-
3,930
3,930
Other comprehensive income:
Transfers
-
(5,231)
-
(5,231)
Total comprehensive income for the year
-
(5,231)
3,930
(1,301)
Transfers
-
-
0
5,231
5,231
Balance at 30 June 2023
100
148,151
103,280
251,531
Year ended 30 June 2024:
Profit and total comprehensive income for the year
-
-
9,862
9,862
Balance at 30 June 2024
100
148,151
113,142
261,393
Oyster Mutual Properties Limited
Notes to the Financial Statements
For the year ended 30 June 2024
Page 4
1
Accounting policies
Company information

Oyster Mutual Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least twelve months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable from rent in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Oyster Mutual Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
Page 5
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2023:2).

3
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
420,000

The investment properties were valued at the year end by the directors. The historical cost of the properties is £251,754 (2023: £251,754).

4
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
2,313
4,521
Other creditors
155,001
155,001
Accruals and deferred income
2,823
2,250
160,137
161,772
5
Called up share capital
2024
2023
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
Oyster Mutual Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 6
6
Related party transactions

Included within creditors due within one year is a loan amounting to £155,000 (2023: £155,000) owed to T.Bush (Billingsgate) Limited, a company which is controlled by the directors.

2024-06-302023-07-01false30 September 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityR. M. SuettR. M. Suettfalsefalse063239672023-07-012024-06-3006323967bus:ChiefExecutive2023-07-012024-06-3006323967bus:Director12023-07-012024-06-3006323967bus:Director22023-07-012024-06-3006323967bus:RegisteredOffice2023-07-012024-06-30063239672024-06-30063239672023-06-3006323967core:CurrentFinancialInstruments2024-06-3006323967core:CurrentFinancialInstruments2023-06-3006323967core:ShareCapital2024-06-3006323967core:ShareCapital2023-06-3006323967core:RevaluationReserve2024-06-3006323967core:RevaluationReserve2023-06-3006323967core:RetainedEarningsAccumulatedLosses2024-06-3006323967core:RetainedEarningsAccumulatedLosses2023-06-3006323967core:ShareCapital2022-06-3006323967core:RevaluationReserve2022-06-3006323967core:RetainedEarningsAccumulatedLosses2022-06-3006323967core:RetainedEarningsAccumulatedLosses2022-07-012023-06-30063239672022-07-012023-06-3006323967core:RetainedEarningsAccumulatedLosses2023-07-012024-06-3006323967core:RevaluationReserve2022-07-012023-06-30063239672023-06-3006323967bus:PrivateLimitedCompanyLtd2023-07-012024-06-3006323967bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3006323967bus:FRS1022023-07-012024-06-3006323967bus:AuditExemptWithAccountantsReport2023-07-012024-06-3006323967bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP