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Registration number: 12830978

OE20 Holdings Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 September 2022 to 29 February 2024

 

OE20 Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

OE20 Holdings Limited

(Registration number: 12830978)
Balance Sheet as at 29 February 2024

Note

2024
£

2022
£

Fixed assets

 

Investment property

4

-

466,650

Current assets

 

Debtors

5

17,613

10,296

Cash at bank and in hand

 

-

39,098

 

17,613

49,394

Creditors: Amounts falling due within one year

6

(73,221)

(145,630)

Net current liabilities

 

(55,608)

(96,236)

Total assets less current liabilities

 

(55,608)

370,414

Creditors: Amounts falling due after more than one year

6

-

(343,346)

Net (liabilities)/assets

 

(55,608)

27,068

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(55,708)

26,968

Shareholders' (deficit)/funds

 

(55,608)

27,068

 

OE20 Holdings Limited

(Registration number: 12830978)
Balance Sheet as at 29 February 2024

For the financial period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 January 2025
 

Mr J R Higdon
Director

   
     
 

OE20 Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Winchester House
Deane Gate Avenue
Taunton
Somerset
TA1 2UH

The principal place of business is:
Dipford House
Dipford Road
Trull
Taunton
Somerset
TA3 7NR

These financial statements were authorised for issue by the director on 22 January 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared on the break up basis with assets written down to recoverable amounts and liablities provided for in full.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Revenue recognition

Rental income is recognised on a straight line basis over the term of the lease.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

OE20 Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 29 February 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. Changes in fair value are recognised in profit or loss.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

OE20 Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the period was 2 (2022 - 2).

4

Investment properties

2024
£

At 1 September

466,650

Disposals

(466,650)

At 29 February

-

5

Debtors

Note

2024
£

2022
£

Amounts owed by related parties

8

15,105

-

Other debtors

 

2,508

3,846

Prepayments

 

-

6,450

 

17,613

10,296

6

Creditors

Due within one year

Note

2024
£

2022
£

 

Amounts due to related parties

8

-

99,427

Accruals

 

13,845

7,287

Corporation tax liability

59,376

38,916

 

73,221

145,630

Due after one year

 

Loans and borrowings

7

-

343,346

 

OE20 Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 29 February 2024

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2022
£

Bank borrowings

-

343,346


Bank borrowings
Bank loans were denominated in GB pounds with a nominal interest rate of 3.49%. The bank loans were not repayable by instalments and were due for repayment on 3 December 2045. Following repayment during the period, The carrying amount at period end is £Nil (2022 - £343,346).

Each loan was secured against the freehold property acquired with the proceeds of that particular loan.

8

Related party transactions

Transactions with the director

2024

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Transactions during the year

-

32,677

(32,677)

-

 

2022

At 1 September 2021
£

Advances to director
£

Repayments by director
£

At 31 August 2022
£

Transactions during the year

7,716

127,313

(135,029)

-

 

During the year, the director made a loan with the company and subsequently repaid the loan. This loan was repayable on demand and received interest at the HMRC approved rate.

Income and receivables from related parties

2024

Other related parties
£

Amounts receivable from related party

15,105

Expenditure with and payables to related parties

2022

Parent
£

Amounts payable to related party

99,427