REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
Osmotherley Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
Osmotherley Properties Limited |
Osmotherley Properties Limited (Registered number: 05878300) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Osmotherley Properties Limited |
Company Information |
for the Year Ended 31 July 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
114-120 Northgate Street |
Chester |
CH1 2HT |
Osmotherley Properties Limited (Registered number: 05878300) |
Statement of Financial Position |
31 July 2024 |
31/7/24 | 31/7/23 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital |
Other reserves | 7 |
Retained earnings | 7 | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
The director acknowledges her 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. |
Osmotherley Properties Limited (Registered number: 05878300) |
Statement of Financial Position - continued |
31 July 2024 |
The financial statements were approved by the director and authorised for issue on |
Osmotherley Properties Limited (Registered number: 05878300) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | Statutory information |
Osmotherley Properties Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Tangible fixed assets |
Office equipment | - |
Fixtures, fittings and equipment | - |
No depreciation is charged on the investment property. |
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. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 of accounting, on the assumption that the director will continue to provide financial support to enable the company to meet its current liabilities, which exceeded its current assets at 31 July 2024. |
Osmotherley Properties Limited (Registered number: 05878300) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
3. | Employees and directors |
The average number of employees during the year was NIL (2023 - NIL). |
4. | Tangible fixed assets |
Fixtures, |
fittings |
Office | and |
equipment | equipment | Totals |
£ | £ | £ |
Cost |
At 1 August 2023 |
and 31 July 2024 |
Depreciation |
At 1 August 2023 |
and 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 August 2023 |
and 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
6. | Creditors: amounts falling due within one year |
31/7/24 | 31/7/23 |
£ | £ |
Trade creditors |
Other creditors |
Osmotherley Properties Limited (Registered number: 05878300) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
7. | Reserves |
Under FRS 102 surpluses on the revaluation of investment property are treated as fair value adjustments and are recognised in the statement of income. However under company law, these surpluses are not distributable. In these financial statements, the cumulative revaluation surpluses have been included in other reserves under profit and loss - not distributable. On disposal of an investment property, any revaluation surplus realised on disposal is transferred to distributable reserves. |
8. | Related party disclosures |
The director has made loans to the company. The balance outstanding on these loans at 31 July 2024 was £ |