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REGISTERED NUMBER: 11955106 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

O'CONNOR PROPERTY SERVICES LIMITED

O'CONNOR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11955106)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 7


O'CONNOR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11955106)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 86 114
Investment property 5 1,118,370 1,178,499
1,118,456 1,178,613

CURRENT ASSETS
Debtors 6 46,171 8,464
Cash at bank 52,351 71,940
98,522 80,404
CREDITORS
Amounts falling due within one year 7 (293,424 ) (388,275 )
NET CURRENT LIABILITIES (194,902 ) (307,871 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

923,554

870,742

CREDITORS
Amounts falling due after more than one
year

8

(796,883

)

(770,531

)

PROVISIONS FOR LIABILITIES (33,548 ) (23,385 )
NET ASSETS 93,123 76,826

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 143,027 99,694
Retained earnings (50,004 ) (22,968 )
93,123 76,826

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

O'CONNOR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11955106)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





D O'Connor - Director


O'CONNOR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11955106)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

O'Connor Property Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11955106

Registered office: c/o DPC
Stone House, Stone Road Business Park
Stone Road
Stoke-on-Trent
Staffordshire
ST4 6SR

The principal activity of the company during the year was that of an investment property company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investment properties

The open market value of the investment properties has been determined by the directors, based on their experience of the market.

Revenue recognition
Turnover represents rental income which is recognised in the relevant rental period.

Tangible fixed assets
Computer equipment - 20% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

O'CONNOR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11955106)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

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 or loss.

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.

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 loss is recognised in profit or loss immediately.

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.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


O'CONNOR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11955106)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The accounts have been prepared on the going concern basis. The directors believe this to be appropriate as the connected company has expressed it's willingness to support the business financially for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2023
and 30 April 2024 143
DEPRECIATION
At 1 May 2023 29
Charge for year 28
At 30 April 2024 57
NET BOOK VALUE
At 30 April 2024 86
At 30 April 2023 114

O'CONNOR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11955106)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 1,178,499
Additions 17,967
Disposals (131,593 )
Revaluations 53,497
At 30 April 2024 1,118,370
NET BOOK VALUE
At 30 April 2024 1,118,370
At 30 April 2023 1,178,499

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2022 109,494
Valuation in 2023 13,585
Valuation in 2024 53,497
Cost 941,794
1,118,370

The directors consider the investment properties to be stated at fair value as at 30 April 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors - 136
Amounts owed by connected
companies - 2,300
Deferred tax asset 9,057 5,428
Prepayments 37,114 600
46,171 8,464

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other loans 100,000 125,000
Trade creditors 123 -
Amounts owed to connected
companies 181,369 251,241
Accruals and deferred income 11,932 12,034
293,424 388,275

Amounts owed to connected companies are unsecured, interest free and repayable on demand.

The bank loans are secured by fixed charges over the investment properties.

O'CONNOR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 11955106)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans more 5 years
non-instalment 796,883 770,531
796,883 770,531

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 years
non-instalment 796,883 770,531
796,883 770,531

The bank loans are secured by fixed charges over the investment properties.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.24 30.4.23
£    £   
Within one year 5,310 -
Between one and five years 9,292 -
14,602 -

10. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.

11. GOING CONCERN

The accounts have been prepared on the going concern basis. The directors believe this to be appropriate as the connected company has expressed it's willingness to support the business financially for the foreseeable future.