Registration number:
OE20 Holdings Limited
for the Period from 1 September 2022 to 29 February 2024
OE20 Holdings Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
OE20 Holdings Limited
(Registration number: 12830978)
Balance Sheet as at 29 February 2024
Note |
2024 |
2022 |
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Fixed assets |
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Investment property |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
|
Retained earnings |
(55,708) |
26,968 |
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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:
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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
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OE20 Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 29 February 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Dipford House
Dipford Road
Trull
Taunton
Somerset
TA3 7NR
These financial statements were authorised for issue by the
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
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
Staff numbers |
The average number of persons employed by the company (including the director) during the period was
Investment properties |
2024 |
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At 1 September |
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Disposals |
( |
At 29 February |
- |
Debtors |
Note |
2024 |
2022 |
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Amounts owed by related parties |
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- |
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Other debtors |
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Prepayments |
- |
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Creditors |
Due within one year |
Note |
2024 |
2022 |
Amounts due to related parties |
- |
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Accruals |
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Corporation tax liability |
59,376 |
38,916 |
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Due after one year |
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Loans and borrowings |
- |
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OE20 Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 29 February 2024
Loans and borrowings |
Non-current loans and borrowings
2024 |
2022 |
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Bank borrowings |
- |
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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.
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 |
- |
|
( |
- |
2022 |
At 1 September 2021 |
Advances to director |
Repayments by director |
At 31 August 2022 |
Transactions during the year |
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|
( |
- |
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 |
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Expenditure with and payables to related parties
2022 |
Parent |
Amounts payable to related party |
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