Registered number
04408002
OFFSPRING INVESTMENTS LIMITED
Filleted Accounts
30 April 2024
OFFSPRING INVESTMENTS LIMITED
Registered number: 04408002
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 378 473
Investments 4 426,000 386,000
426,378 386,473
Current assets
Debtors 5 687 -
Cash at bank and in hand 10,267 7,643
10,954 7,643
Creditors: amounts falling due within one year 6 (87,282) (13,835)
Net current liabilities (76,328) (6,192)
Total assets less current liabilities 350,050 380,281
Creditors: amounts falling due after more than one year 7 (173,653) (248,491)
Provisions for liabilities (37,149) (29,567)
Net assets 139,248 102,223
Capital and reserves
Called up share capital 2 2
Revaluation reserve 9 158,065 125,665
Profit and loss account (18,819) (23,444)
Shareholders' funds 139,248 102,223
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M G Kennedy
Director
Approved by the board on 10 January 2025
OFFSPRING INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rents receivable from investment properties.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Furniture and equipment 20% per annum reducing balance basis
Investments
Are properties held to earn rentals and/or for capital appreciation and are initially measured at cost, including transaction costs. Subsequently they are measured at fair value on an open market basis. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair value of investment properties are included in the Statement of Income and Retained Earnings in the period in which they arise.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company did not operate a pension scheme during the year.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 2
3 Tangible fixed assets
Furniture & equipment
£
Cost
At 1 May 2023 9,146
At 30 April 2024 9,146
Depreciation
At 1 May 2023 8,673
Charge for the year 95
At 30 April 2024 8,768
Net book value
At 30 April 2024 378
At 30 April 2023 473
4 Investments
Other
investments
£
Valuation
At 1 May 2023 386,000
Revaluation 40,000
At 30 April 2024 426,000
Historical cost
At 1 May 2023 230,858
At 30 April 2024 230,858
5 Debtors 2024 2023
£ £
Trade debtors and prepayments 687 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors and accruals 916 1,602
Corporation tax 1,103 2,107
Other creditors - directors' loan accounts 85,263 10,126
87,282 13,835
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 173,653 248,491
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 173,653 248,491
9 Profit & loss account - non distributable 2024 2023
£ £
At 1 May 2023 125,665 125,665
Gain on revaluation of land and buildings 40,000 -
Deferred taxation arising on the revaluation of land and buildings (7,600) -
At 30 April 2024 158,065 125,665
10 Events after the reporting date
There were no events after the reporting date which would affect the user's understanding of these accounts.
11 Contingent liabilities
There were no contingent liabilities in existence at the year end.
12 Controlling party
Mr and Mrs M G Kennedy own 100% of the issued ordinary share capital of the company.
13 Other information
OFFSPRING INVESTMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
24 Oswald Road
Chorlton Cum Hardy
Manchester
M21 9LP
OFFSPRING INVESTMENTS LIMITED 04408002 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 Mr M G Kennedy No description of principal activity 04408002 2022-05-01 2023-04-30 04408002 core:RevaluationReserve core:LandBuildings 2022-05-01 2023-04-30 04408002 core:RevaluationReserve 2022-05-01 2023-04-30 04408002 core:WithinOneYear 2023-04-30 04408002 core:AfterOneYear 2023-04-30 04408002 core:ShareCapital 2023-04-30 04408002 core:OtherReservesSubtotal 2023-04-30 04408002 core:RetainedEarningsAccumulatedLosses 2023-04-30 04408002 core:RevaluationReserve 2022-04-30 04408002 2023-05-01 2024-04-30 04408002 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04408002 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 04408002 bus:Director40 2023-05-01 2024-04-30 04408002 1 2023-05-01 2024-04-30 04408002 2 2023-05-01 2024-04-30 04408002 core:PlantMachinery 2023-05-01 2024-04-30 04408002 core:RevaluationReserve core:LandBuildings 2023-05-01 2024-04-30 04408002 core:RevaluationReserve 2023-05-01 2024-04-30 04408002 countries:England 2023-05-01 2024-04-30 04408002 bus:FRS102 2023-05-01 2024-04-30 04408002 bus:FilletedAccounts 2023-05-01 2024-04-30 04408002 2024-04-30 04408002 core:WithinOneYear 2024-04-30 04408002 core:AfterOneYear 2024-04-30 04408002 core:ShareCapital 2024-04-30 04408002 core:OtherReservesSubtotal 2024-04-30 04408002 core:RetainedEarningsAccumulatedLosses 2024-04-30 04408002 core:PlantMachinery 2024-04-30 04408002 core:RevaluationsIncreaseDecreaseInInvestments 2024-04-30 04408002 core:RevaluationReserve 2024-04-30 04408002 2023-04-30 04408002 core:PlantMachinery 2023-04-30 04408002 core:RevaluationReserve 2023-04-30 iso4217:GBP xbrli:pure