REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
OYSTER WHARF DEVELOPMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
OYSTER WHARF DEVELOPMENTS LIMITED |
OYSTER WHARF DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10676402) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
OYSTER WHARF DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Solar House |
282 Chase Road |
London |
N14 6NZ |
OYSTER WHARF DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10676402) |
BALANCE SHEET |
30 JUNE 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
OYSTER WHARF DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10676402) |
BALANCE SHEET - continued |
30 JUNE 2024 |
The financial statements were approved by the director and authorised for issue on |
OYSTER WHARF DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10676402) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Oyster Wharf Developments Limited is a |
All the activities of the company are from continuing operations. |
The company has no other recognised items of income and expenses other than the results of the year as set out above. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Investments |
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated |
impairment losses. |
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss. |
Investments in associates |
Investments in associates accounted for in accordance with the cost model are recorded at cost less any |
accumulated impairment losses. |
Investments in associates accounted for in accordance with the fair value model are initially recorded at the |
transaction price. At each reporting date, the investments are measured at fair value, with changes in fair |
value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair |
value reliably without undue cost or effort, the cost model will be adopted. |
Dividends and other distributions received from the investment are recognised as income without regard to |
whether the distributions are from |
OYSTER WHARF DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10676402) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Investments in joint ventures |
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at |
cost less any accumulated impairment losses. |
Investments in jointly controlled entities accounted for in accordance with the fair value model are initially |
recorded at the transaction price. At each reporting date, the investments are measured at fair value, with |
changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to |
measure fair value reliably without undue cost or effort, the cost model will be adopted. |
Dividends and other distributions received from the investment are recognised as income without regard to |
whether the distributions are from accumulated profits of the joint venture arising before or after the date of |
acquisition |
Impairment of fixed assets |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount |
being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the |
asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting |
date. |
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an |
individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the |
asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset |
and generates cash inflows that largely independent of the cash inflows from other assets or groups of |
assets. |
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the |
acquisition date, allocated to each of the cash-generating units that are expected to benefit from the |
synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned |
to those units. |
Financial Instruments |
A financial asset or a financial liability is recognised only when the company becomes a party to the |
contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement |
constitutes a financing transaction, where it is recognised at the present value of the future payments |
discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost. |
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference |
shares are publicly traded or their fair value can otherwise be measured reliably, the investment is |
subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such |
investments are subsequently measured at cost less impairment. |
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for |
an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, |
in which case the asset is measured at the present value of the future payments discounted at a market rate |
of interest for a similar debt instrument. |
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit |
or loss, with the exception of hedging instruments in a designated hedging relationship. |
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of |
impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment |
OYSTER WHARF DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10676402) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
loss is recognised in profit or loss immediately. |
Financial instruments (continued) |
For all equity instruments regardless of significance, and other financial assets that are individually |
significant, these are assessed individually for impairment. Other financial assets are either assessed |
individually or grouped on the basis of similar credit risk characteristics. |
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal |
does not result in a carrying amount of the financial asset that exceeds what the carrying amount would |
have been had the impairment not previously been recognised. |
Operating leases |
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate costs of lease incentives are recognised as a reduction to income over the lease term on a straight line basis. Costs, including depreciation, incurred in earning the leases income are recognised as a expenses. Any initial direct costs incurred and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the basis as the lease income. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | STOCKS |
30.6.24 | 30.6.23 |
£ | £ |
Work in progress |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Amount due from related |
party |
Accrued interest receivable |
Other debtors |
VAT |
OYSTER WHARF DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10676402) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
Other Debtors include an Unsecured Perpetual Annuity Bond of £3,248,520 issued by the wholly owned |
subsidiary Oyster Wharf Trading Limited. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade creditors |
Amount due to related parties |
Directors' current accounts |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Shareholders Loans | 2,114,905 | 2,114,905 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary shares | 1 | 1,761,000 | 1,761,000 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 July 2023 | ( |
) |
Profit for the year |
At 30 June 2024 | ( |
) |