Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-3011The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-01falseNo description of principal activityfalsetruefalse 07220494 2023-05-01 2024-04-30 07220494 2022-05-01 2023-04-30 07220494 2024-04-30 07220494 2023-04-30 07220494 c:Director1 2023-05-01 2024-04-30 07220494 c:RegisteredOffice 2023-05-01 2024-04-30 07220494 d:PlantMachinery 2023-05-01 2024-04-30 07220494 d:PlantMachinery 2024-04-30 07220494 d:PlantMachinery 2023-04-30 07220494 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07220494 d:MotorVehicles 2023-05-01 2024-04-30 07220494 d:MotorVehicles 2024-04-30 07220494 d:MotorVehicles 2023-04-30 07220494 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07220494 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07220494 d:FreeholdInvestmentProperty 2024-04-30 07220494 d:FreeholdInvestmentProperty 2023-04-30 07220494 d:CurrentFinancialInstruments 2024-04-30 07220494 d:CurrentFinancialInstruments 2023-04-30 07220494 d:Non-currentFinancialInstruments 2024-04-30 07220494 d:Non-currentFinancialInstruments 2023-04-30 07220494 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 07220494 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07220494 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 07220494 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 07220494 d:ShareCapital 2024-04-30 07220494 d:ShareCapital 2023-04-30 07220494 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 07220494 d:RetainedEarningsAccumulatedLosses 2024-04-30 07220494 d:RetainedEarningsAccumulatedLosses 2023-04-30 07220494 c:OrdinaryShareClass1 2023-05-01 2024-04-30 07220494 c:OrdinaryShareClass1 2024-04-30 07220494 c:OrdinaryShareClass1 2023-04-30 07220494 c:FRS102 2023-05-01 2024-04-30 07220494 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07220494 c:FullAccounts 2023-05-01 2024-04-30 07220494 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07220494 2 2023-05-01 2024-04-30 07220494 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 07220494 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 07220494 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 07220494 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 07220494 d:RetirementBenefitObligationsDeferredTax 2024-04-30 07220494 d:RetirementBenefitObligationsDeferredTax 2023-04-30 07220494 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07220494










OVERTON ESTATES LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




















 
OVERTON ESTATES LTD
 
 
Company Information


Director
J Lamond 




Registered number
07220494



Registered office
3rd Floor
12 Gough Square

London

EC4A 3DW





 
OVERTON ESTATES LTD
Registered number: 07220494

Balance sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
36,066
1,835

Investments
 6 
25
25

Investment property
 7 
850,000
850,000

  
886,091
851,860

Current assets
  

Debtors: amounts falling due within one year
 8 
-
4,340

Cash at bank and in hand
  
387,014
324,410

  
387,014
328,750

Creditors: amounts falling due within one year
 9 
(27,854)
(84,146)

Net current assets
  
 
 
359,160
 
 
244,604

Total assets less current liabilities
  
1,245,251
1,096,464

Creditors: amounts falling due after more than one year
 10 
(318,644)
(316,833)

Provisions for liabilities
  

Deferred tax
 11 
(39,438)
(1,414)

  
 
 
(39,438)
 
 
(1,414)

Net assets
  
887,169
778,217


Capital and reserves
  

Called up share capital 
 12 
1
1

Profit and loss account
 13 
887,168
778,216

  
887,169
778,217


Page 1

 
OVERTON ESTATES LTD
Registered number: 07220494
    
Balance sheet (continued)
As at 30 April 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 January 2025.



J Lamond
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
OVERTON ESTATES LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

1.


General information

Overton Estates Ltd is a private limited company, incorporated in the United Kingdom and registered in England and Wales. The Company's registered office address is 3rd Floor, 12 Gough Square, London, EC4A 3DW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Investments in associates

Investments in associates are shown at cost less provision of impairment.

 
2.3

Turnover and other operating income

Turnover comprises consultancy fees receivable during the year, exclusive of Value Added Tax.
Other operating income comprises rental income receivable during the year, exclusive of Value Added Tax.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Other fixed assets
-
20% reducing balance
Motor vehicles
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
OVERTON ESTATES LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment properties are shown at their open market value, as determined by the directors. The surplus or deficit arising from the annual revaluation is transferred to the Profit and loss account.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Basic financial instruments, including trade and other creditors are measured at the transaction price less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.  

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
OVERTON ESTATES LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the Director is required to make judgments, estimates and assumptions about the carrying value of assets and liabilities. The estimates and associated assumptions are based on historic experience and other factors that are relevant.
The following judgments have had the most significant effect on the amounts recognised in the financial statements:
The investment property is valued at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset.


4.


Employees




The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
1
1

Page 5

 
OVERTON ESTATES LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 May 2023
17,404
-
17,404


Additions
-
43,244
43,244



At 30 April 2024

17,404
43,244
60,648



Depreciation


At 1 May 2023
15,568
-
15,568


Charge for the year on owned assets
367
8,648
9,015



At 30 April 2024

15,935
8,648
24,583



Net book value



At 30 April 2024
1,469
34,596
36,065



At 30 April 2023
1,836
-
1,836


6.


Fixed asset investments





Investments in associates

£



Cost or valuation


At 1 May 2023
25



At 30 April 2024
25





Participating interests


The company holds 25% of the nominal value of the ordinary share capital in Four Developments Inc Limited.

Page 6

 
OVERTON ESTATES LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

7.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
850,000



At 30 April 2024
850,000

The investment property valuations were made by the director's valuation at the balance sheet date, on an open market value for existing use basis, and is not depreciated. The historic cost of the investment property at the balance sheet date was £590,204 (2023: £590,204).







8.


Debtors

2024
2023
£
£


Prepayments and accrued income
-
500

Tax recoverable
-
3,840

-
4,340



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
5,983
-

Corporation tax
2,600
-

Other taxation and social security
-
23,878

Other creditors
3,031
39,091

Accruals and deferred income
6,240
11,177

27,854
84,146


Page 7

 
OVERTON ESTATES LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
318,644
316,833

318,644
316,833


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable other than by instalments
288,538
283,500

288,538
283,500

Included in bank loans is £30,106 (2023: 33,334) which consists of an unsecured bounce back loan, repayable in instalments until August 2026.
Included in bank loans is £288,538 (2023: £280,000) which is secured on the freehold investment property.

Page 8

 
OVERTON ESTATES LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

11.


Deferred taxation




2024


£






At beginning of year
(1,414)


Charged to profit or loss
(38,024)



At end of year
(39,438)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Gain on investment property
(30,422)
(30,422)

Tax losses carried forward
-
29,008

Accelerated capital allowances
(9,016)
-

(39,438)
(1,414)






12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



13.


Reserves

Profit & loss account

Included in the profit and loss account are non-distributable reserves of £229,374 (2023: £229,374).

Page 9

 
OVERTON ESTATES LTD
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

14.


Related party transactions

At 30 April 2024 an associated company owed £Nil (2023: £122) to Overton Estates Ltd in respect of expenses paid on the associates behalf, this amount is interest free and repayable on demand. The recovery of this debt is doubtful and a provision of £Nil (2023: £122) was made against the debt during the year. 
During the year rental income of £17,015 (2023: £17,015) was received from a close family member. No amounts were outstanding at the year end (2023: £Nil).

 
Page 10