Company registration number 11701849 (England and Wales)
O'GRADY INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
O'GRADY INVESTMENTS LIMITED
COMPANY INFORMATION
Directors
J G O'Grady
M Barbero-Vaquero
Company number
11701849
Registered office
29 Park Street West
Luton
LU1 3BE
Accountants
Grunberg & Co Limited
5 Technology Park
Colindeep Lane
Colindale
London
United Kingdom
NW9 6BX
O'GRADY INVESTMENTS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
O'GRADY INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
131,832
194,216
Investment property
4
8,019,500
6,319,500
8,151,332
6,513,716
Current assets
Debtors
5
105,204
169,048
Cash at bank and in hand
52,731
9,653
157,935
178,701
Creditors: amounts falling due within one year
6
(126,526)
(149,635)
Net current assets
31,409
29,066
Total assets less current liabilities
8,182,741
6,542,782
Creditors: amounts falling due after more than one year
7
(5,364,690)
(3,939,993)
Provisions for liabilities
(531,327)
(483,161)
Net assets
2,286,724
2,119,628
Capital and reserves
Called up share capital
2
2
Revaluation reserve
1,464,370
1,319,871
Profit and loss reserves
822,352
799,755
Total equity
2,286,724
2,119,628
O'GRADY INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 31 March 2024 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 of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 31 October 2024 and are signed on its behalf by:
J G O'Grady
Director
Company registration number 11701849 (England and Wales)
O'GRADY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

O'Grady Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 29 Park Street West, Luton, LU1 3BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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 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 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
Turnover

Turnover represents rents receivable, excluding value added tax. Rental income is recognised on a calendar basis.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on reducing balance
Motor vehicles
20% on reducing balance
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.

Investment properties whose fair value cannot be measured reliably, without undue cost or effort on an on-going basis, are included in other fixed assets at cost less accumulated depreciation and accumulated impairment losses.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

O'GRADY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

O'GRADY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

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

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
216,874
86,100
302,974
Additions
5,064
-
0
5,064
Disposals
-
0
(60,000)
(60,000)
At 31 March 2024
221,938
26,100
248,038
Depreciation and impairment
At 1 April 2023
76,818
31,940
108,758
Depreciation charged in the year
29,992
4,176
34,168
Eliminated in respect of disposals
-
0
(26,720)
(26,720)
At 31 March 2024
106,810
9,396
116,206
Carrying amount
At 31 March 2024
115,128
16,704
131,832
At 31 March 2023
140,056
54,160
194,216
O'GRADY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Investment property
2024
£
Fair value
At 1 April 2023
6,164,367
Additions
1,515,584
Revaluations
339,549
At 31 March 2024
8,019,500

Investment properties were valued on an open market basis on 31 March 2024 by the directors.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
5,920,124
4,559,672
Accumulated depreciation
-
-
Carrying amount
5,920,124
4,559,672
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
95,747
169,048
Prepayments and accrued income
9,457
-
0
105,204
169,048
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
64,256
80,787
Obligations under finance leases
-
0
3,998
Trade creditors
18,223
1,440
Corporation tax
30,114
39,266
Other taxation and social security
398
-
0
Other creditors
8,286
-
0
Accruals and deferred income
5,249
24,144
126,526
149,635
O'GRADY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
3,767,146
3,282,934
Obligations under finance leases
-
0
5,674
Other borrowings
575,707
196,272
Other creditors
826,897
315,113
Accruals and deferred income
194,940
140,000
5,364,690
3,939,993

The bank loans are secured by way of a fixed and floating charge over the investment properties of the company.

8
Related party disclosures

Included in other debtors and other creditors are amounts due from and due to related companies in which the directors have a material interest or significant control. These amounts are interest free and repayable on demand.

 

Rent receivable is from a related company in which the directors have a material interest or significant control.

2024-03-312023-04-01false31 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityJ G O'GradyM Barbero-Vaquerofalsefalse117018492023-04-012024-03-3111701849bus:Director12023-04-012024-03-3111701849bus:Director22023-04-012024-03-3111701849bus:RegisteredOffice2023-04-012024-03-31117018492024-03-31117018492023-03-3111701849core:FurnitureFittings2024-03-3111701849core:MotorVehicles2024-03-3111701849core:FurnitureFittings2023-03-3111701849core:MotorVehicles2023-03-3111701849core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3111701849core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3111701849core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3111701849core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3111701849core:CurrentFinancialInstruments2024-03-3111701849core:CurrentFinancialInstruments2023-03-3111701849core:Non-currentFinancialInstruments2024-03-3111701849core:Non-currentFinancialInstruments2023-03-3111701849core:ShareCapital2024-03-3111701849core:ShareCapital2023-03-3111701849core:RevaluationReserve2024-03-3111701849core:RevaluationReserve2023-03-3111701849core:RetainedEarningsAccumulatedLosses2024-03-3111701849core:RetainedEarningsAccumulatedLosses2023-03-3111701849core:FurnitureFittings2023-04-012024-03-3111701849core:MotorVehicles2023-04-012024-03-31117018492022-04-012023-03-3111701849core:FurnitureFittings2023-03-3111701849core:MotorVehicles2023-03-31117018492023-03-3111701849core:Non-currentFinancialInstruments12024-03-3111701849core:Non-currentFinancialInstruments12023-03-3111701849bus:PrivateLimitedCompanyLtd2023-04-012024-03-3111701849bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111701849bus:FRS1022023-04-012024-03-3111701849bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3111701849bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP