Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 12215337 Mr Andrew Bygrave Mr Loi Pok Yen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12215337 2022-12-31 12215337 2023-12-31 12215337 2023-01-01 2023-12-31 12215337 frs-core:CurrentFinancialInstruments 2023-12-31 12215337 frs-core:Non-currentFinancialInstruments 2023-12-31 12215337 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 12215337 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 12215337 frs-core:ShareCapital 2023-12-31 12215337 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 12215337 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12215337 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 12215337 frs-bus:SmallEntities 2023-01-01 2023-12-31 12215337 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12215337 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12215337 frs-bus:Director1 2023-01-01 2023-12-31 12215337 frs-bus:Director2 2023-01-01 2023-12-31 12215337 frs-countries:EnglandWales 2023-01-01 2023-12-31 12215337 2021-12-31 12215337 2022-12-31 12215337 2022-01-01 2022-12-31 12215337 frs-core:CurrentFinancialInstruments 2022-12-31 12215337 frs-core:Non-currentFinancialInstruments 2022-12-31 12215337 frs-core:ShareCapital 2022-12-31 12215337 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 12215337
OP Hounslow Ltd
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12215337
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,202,533 18,202,533
18,202,533 18,202,533
CURRENT ASSETS
Debtors 5 1,990,539 1,412,229
Cash at bank and in hand 20 200
1,990,559 1,412,429
Creditors: Amounts Falling Due Within One Year 6 (9,944,088 ) (8,815,669 )
NET CURRENT ASSETS (LIABILITIES) (7,953,529 ) (7,403,240 )
TOTAL ASSETS LESS CURRENT LIABILITIES 10,249,004 10,799,293
Creditors: Amounts Falling Due After More Than One Year 7 (10,357,000 ) (10,957,000 )
NET LIABILITIES (107,996 ) (157,707 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (108,096 ) (157,807 )
SHAREHOLDERS' FUNDS (107,996) (157,707)
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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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Bygrave
Director
17/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
OP Hounslow Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12215337 . The registered office is 14a Meadway Court, Rutherford Close, Stevenage, Hertfordshire, SG1 2EF.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis. The company has a deficit on shareholders' funds and relies upon the support of the parent company, which has been confirmed for a period of at least twelve months from the approval of the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes rental revenue earned from the investment property and is recognised based on rents receivable in accordance with the lease.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account. Deferred tax is provided on the gain at the rate expected to apply when the property is sold. A transfer is made from retained earnings to a non-distributable fair value reserve equivalent to the unrealised gain on investment property.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 January 2023 18,202,533
As at 31 December 2023 18,202,533
Net Book Value
As at 31 December 2023 18,202,533
As at 1 January 2023 18,202,533
Cost or valuation as at 31 December 2023 represented by:
Investment Properties
£
At valuation 18,202,533
18,202,533
The investment property was valued by the directors on an open market basis at 31 December 2023 and they consider the value to be the same as original cost.
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 1,990,539 1,412,229
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 864 -
Amounts owed to group undertakings 9,810,077 8,801,894
Other creditors 133,147 13,775
9,944,088 8,815,669
Amounts due to group undertaking due within one year includes a loan of £600,000 (2022 - £NIL) from UD (Staines Road) Ltd, the parent company. Interest is being charged on this loan at a rate of 4% per annum.
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Amounts owed to group undertaking 10,357,000 10,957,000
Amounts due to group undertaking due after one year includes a loan of £10,357,000 (2022 - £10,957,000) from UD (Staines Road) Ltd, the parent company. Interest is being charged on this loan at a rate of 4% per annum.
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The company has provided a guarantee by way of a charge against its investment property in respect of a bank loan of the parent company of £10,957,000 (2022 - £10,957,000).
10. Related Party Transactions
Other debtors includes £1,985,234 (2022 - £1,409,112) owed by Odyssey Partners Global Ltd, a company in which Mr Andrew Bygrave is a director.
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