Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31false2023-08-01Holding company of investment property23truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14263542 2023-08-01 2024-07-31 14263542 2022-07-29 2023-07-31 14263542 2024-07-31 14263542 2023-07-31 14263542 c:Director1 2023-08-01 2024-07-31 14263542 c:Director2 2023-08-01 2024-07-31 14263542 d:FreeholdInvestmentProperty 2023-08-01 2024-07-31 14263542 d:FreeholdInvestmentProperty 2024-07-31 14263542 d:FreeholdInvestmentProperty 2023-07-31 14263542 d:CurrentFinancialInstruments 2024-07-31 14263542 d:CurrentFinancialInstruments 2023-07-31 14263542 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 14263542 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 14263542 d:ShareCapital 2024-07-31 14263542 d:ShareCapital 2023-07-31 14263542 d:RetainedEarningsAccumulatedLosses 2024-07-31 14263542 d:RetainedEarningsAccumulatedLosses 2023-07-31 14263542 c:FRS102 2023-08-01 2024-07-31 14263542 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 14263542 c:FullAccounts 2023-08-01 2024-07-31 14263542 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 14263542 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
Registered number: 14263542






ONE CENT PROPERTIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










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ONE CENT PROPERTIES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ONE CENT PROPERTIES LIMITED
FOR THE YEAR ENDED 31 JULY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of One Cent Properties Limited for the year ended 31 July 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of One Cent Properties Limited, as a body, in accordance with the terms of our engagement letter dated 29 July 2022Our work has been undertaken solely to prepare for your approval the financial statements of One Cent Properties Limited and state those matters that we have agreed to state to the Board of directors of One Cent Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than One Cent Properties Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that One Cent Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of One Cent Properties Limited. You consider that One Cent Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of One Cent Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Venthams
Chartered Accountants
Phoenix House
Redhill Aerodrome
Kings Mill Lane
Redhill
Surrey
RH1 5JY
21 October 2024
Page 1

 
ONE CENT PROPERTIES LIMITED
REGISTERED NUMBER:14263542

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
  
476,677
208,390

  
476,677
208,390

Current assets
  

Debtors: amounts falling due within one year
 5 
196
830

Cash at bank and in hand
 6 
50,500
3,090

  
50,696
3,920

Creditors: amounts falling due within one year
 7 
(516,085)
(214,358)

Net current liabilities
  
 
 
(465,389)
 
 
(210,438)

Total assets less current liabilities
  
11,288
(2,048)

  

Net assets/(liabilities)
  
11,288
(2,048)


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
11,284
(2,052)

  
11,288
(2,048)


Page 2

 
ONE CENT PROPERTIES LIMITED
REGISTERED NUMBER:14263542
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 October 2024.




G V Deninski
L D Velov
Director
Director

Page 3

 
ONE CENT PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

One Cent Properties Limited is a private company limited by shares, incorporated in England and Wales. The registered office is 13a Gurdon Road, London, SE7 7RN. 
The principal activity of the company continued to be that of a holding company for investment properties.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

Page 4

 
ONE CENT PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 -3).


4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
208,390


Additions at cost
268,287



At 31 July 2024
476,677






Page 5

 
ONE CENT PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Other debtors
-
830

Prepayments and accrued income
196
-

196
830



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
50,500
3,090

50,500
3,090



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
3,128
-

Other creditors
511,757
212,508

Accruals and deferred income
1,200
1,850

516,085
214,358



8.


Related party transactions

One Cent Group Ltd is owed £168,538 (2023 £26,538) from the company at the balance sheet date. One Cent Group Ltd is a company under common control of the director, Georgi Deninski.

 
Page 6