2023-04-012024-03-312024-03-31false11446209O2H COWORK LABS 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O2H COWORK LABS LIMITED

Registered Number
11446209
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

O2H COWORK LABS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Prashant Shah
Sunil Shah

Registered Address

O2h Scitech Park Mill Lane
Hauxton
Cambridge
CB22 5HX

Registered Number

11446209 (England and Wales)
O2H COWORK LABS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property32,439,4022,391,571
2,439,4022,391,571
Current assets
Debtors4434,020
Cash at bank and on hand17,9405,861
18,3839,881
Creditors amounts falling due within one year4(110,620)(56,129)
Net current assets (liabilities)(92,237)(46,248)
Total assets less current liabilities2,347,1652,345,323
Creditors amounts falling due after one year5(2,174,301)(2,219,301)
Net assets172,864126,022
Capital and reserves
Called up share capital2121
Profit and loss account172,843126,001
Shareholders' funds172,864126,022
The financial statements were approved and authorised for issue by the Board of Directors on 31 October 2024, and are signed on its behalf by:
Prashant Shah
Director
Registered Company No. 11446209
O2H COWORK LABS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investment property
Investment property is included at fair value.
2.Average number of employees

20242023
Average number of employees during the year00
3.Investment property
The investment property has been revalued based on the directors’ valuation, to reflect its open market value as at the balance sheet date. The valuation was made by reference to market evidence of transaction prices for similar properties.

£
Fair value at 01 April 232,391,571
Fair value adjustments47,831
At 31 March 242,439,402
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables23,99823,998
Bank borrowings and overdrafts75,00030,000
Taxation and social security-1,380
Accrued liabilities and deferred income11,622751
Total110,62056,129
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties2,174,3012,219,301
Total2,174,3012,219,301
Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.