Company registration number 09675340 (England and Wales)
ORAM (LEICESTER) LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ORAM (LEICESTER) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
ORAM (LEICESTER) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
3,075,157
3,075,157
Current assets
Debtors
4
16,867
23,679
Cash at bank and in hand
173,608
110,074
190,475
133,753
Creditors: amounts falling due within one year
5
(2,486,060)
(2,499,426)
Net current liabilities
(2,295,585)
(2,365,673)
Total assets less current liabilities
779,572
709,484
Provisions for liabilities
(116,757)
(116,757)
Net assets
662,815
592,727
Capital and reserves
Called up share capital
6
1
1
Revaluation reserve
7
411,622
411,622
Profit and loss reserves
251,192
181,104
Total equity
662,815
592,727

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

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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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 and signed by the director and authorised for issue on 28 November 2024
M B Wheeler
Director
Company registration number 09675340 (England and Wales)
ORAM (LEICESTER) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 April 2022
1
411,622
132,376
543,999
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
-
160,728
160,728
Dividends
-
-
(112,000)
(112,000)
Balance at 31 March 2023
1
411,622
181,104
592,727
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
-
144,088
144,088
Dividends
-
-
(74,000)
(74,000)
Balance at 31 March 2024
1
411,622
251,192
662,815
ORAM (LEICESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Oram (Leicester) Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Walk Building, 110 Regent Road, Leicester, LE1 7LT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including 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, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Rental income comprises rent receivable from investment properties and is recognised on a receivable basis.

1.3
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. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

1.5
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. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ORAM (LEICESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
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 profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

2
Employees

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

2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
3,075,157

The director has incorporated professional valuations carried out historically, in respect of certain investment properties. The valuations were carried out in 2014 and 2018 by Andrew & Ashwell, Chartered Surveyors and Mather Jamie, Chartered Surveyors respectively. It is the director's opinion that the fair value of the remaining investment properties and those properties professionally valued have not materially changed. The director's therefore consider that all investment properties owned by the company are included in the financial statements at fair value.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
16,641
23,462
Prepayments and accrued income
226
217
16,867
23,679
ORAM (LEICESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
34
3,121
Amounts due to parent undertaking
2,114,385
2,144,385
Corporation tax
47,197
36,628
Other taxation and social security
14,917
7,122
Other creditors
285,350
276,950
Accruals and deferred income
24,177
31,220
2,486,060
2,499,426
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Share of £1 each
1
1
1
1
7
Revaluation reserve
2024
2023
£
£
At beginning and end of year
411,622
411,622
8
Related party transactions

During the year dividends totalling £74,000 (2023 - £112,000) were paid to the parent entity.

9
Parent company

The company is a wholly owned subsidiary of Goodman (Leicester) Limited a private company limited by shares and incorporated in England and Wales. The registered office is 110 Regent Road, Leicester, LE1 7LT.

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