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REGISTERED NUMBER: 11325710 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

OLLY ESTATES LIMITED

OLLY ESTATES LIMITED (REGISTERED NUMBER: 11325710)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OLLY ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr S Schapira





REGISTERED OFFICE: 105 Eade Road
OCC Building A
2nd Floor Unit 11D
London
N4 1TJ





REGISTERED NUMBER: 11325710 (England and Wales)





ACCOUNTANTS: DAS Accounting & Partners (UK) LLP
105 Eade Road
OCC Building A
2nd Floor Unit 11D
London
N4 1TJ

OLLY ESTATES LIMITED (REGISTERED NUMBER: 11325710)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,470,000 1,380,000

CURRENT ASSETS
Debtors 6 42,000 10
Cash at bank 95,210 85,804
137,210 85,814
CREDITORS
Amounts falling due within one year 7 (284,393 ) (249,244 )
NET CURRENT LIABILITIES (147,183 ) (163,430 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,322,817

1,216,570

CREDITORS
Amounts falling due after more than one year 8 (1,063,049 ) (1,063,035 )

PROVISIONS FOR LIABILITIES 9 (82,000 ) (60,000 )
NET ASSETS 177,768 93,535

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 177,758 93,525
SHAREHOLDERS' FUNDS 177,768 93,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OLLY ESTATES LIMITED (REGISTERED NUMBER: 11325710)

BALANCE SHEET - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 December 2024 and were signed by:





Mr S Schapira - Director


OLLY ESTATES LIMITED (REGISTERED NUMBER: 11325710)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Olly Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention, except that investment property is measured at fair value through profit and loss.

Judgements and key sources of estimation uncertainty
Judgements made by the director, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are discussed below:

The company's investment property is valued by the director. The valuation of the company's property is inherently subjective, depending on many factors, including the individual nature of the property, its location and expected future net rental value, market yield and comparable market transactions. Therefore the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured ar fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


OLLY ESTATES LIMITED (REGISTERED NUMBER: 11325710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. TANGIBLE FIXED ASSETS
Investment
property
£   
COST OR VALUATION
At 1 January 2023 1,380,000
Revaluations 90,000
At 31 December 2023 1,470,000
NET BOOK VALUE
At 31 December 2023 1,470,000
At 31 December 2022 1,380,000

The director is of the opinion that £1,470,000 represents the open market value of the investment properties at 31 December 2023. The historical cost of the investment properties is £1,141,462 (2022: £1,141,462).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 42,000 10

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 284,393 249,244

OLLY ESTATES LIMITED (REGISTERED NUMBER: 11325710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,063,049 1,063,035

The bank loans are secured by legal charges over the assets of the company.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 82,000 60,000

Deferred
tax
£   
Balance at 1 January 2023 60,000
Charge during the year 22,000
Balance at 31 December 2023 82,000

The provision for deferred tax is in relation to timing differences in respect of the revaluation of investment properties.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10 Ordinary £1 10 10

11. RELATED PARTY DISCLOSURES

Other debtors include amounts of £42,000 (2022: £nil) owed by companies of which the director of the company is also a director.

Other creditors include an amount of £2,000 (2022: £2,000) owed to company of which the director of the company is also a director.

Other than the amounts disclosed above, no transactions with related parties were undertaken such as are required to be disclosed under FRS 102.