Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09111212 2023-01-01 2023-12-31 09111212 2022-01-01 2022-12-31 09111212 2023-12-31 09111212 2022-12-31 09111212 c:Director1 2023-01-01 2023-12-31 09111212 d:FurnitureFittings 2023-01-01 2023-12-31 09111212 d:FurnitureFittings 2023-12-31 09111212 d:FurnitureFittings 2022-12-31 09111212 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09111212 d:CurrentFinancialInstruments 2023-12-31 09111212 d:CurrentFinancialInstruments 2022-12-31 09111212 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09111212 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09111212 d:ShareCapital 2023-12-31 09111212 d:ShareCapital 2022-12-31 09111212 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09111212 d:RetainedEarningsAccumulatedLosses 2023-12-31 09111212 d:RetainedEarningsAccumulatedLosses 2022-12-31 09111212 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09111212 c:OrdinaryShareClass1 2023-12-31 09111212 c:OrdinaryShareClass1 2022-12-31 09111212 c:FRS102 2023-01-01 2023-12-31 09111212 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09111212 c:FullAccounts 2023-01-01 2023-12-31 09111212 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09111212 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09111212










Oxlo Properties Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
Oxlo Properties Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Oxlo Properties Limited for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oxlo Properties Limited for the year ended 31 December 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Oxlo Properties Limited, as a body, in accordance with the terms of our engagement letter dated 27 January 2020Our work has been undertaken solely to prepare for your approval the financial statements of Oxlo Properties Limited and state those matters that we have agreed to state to the Board of directors of Oxlo Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oxlo Properties Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Oxlo Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Oxlo Properties Limited. You consider that Oxlo Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Oxlo Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
London
29 January 2025
Page 1

 
Oxlo Properties Limited
Registered number: 09111212

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,597
2,414

  
1,597
2,414

Current assets
  

Debtors: amounts falling due within one year
 5 
70,473
94,110

Bank and cash balances
  
4,856
55,567

  
75,329
149,677

Creditors: amounts falling due within one year
 6 
(26,959)
(61,354)

Net current assets
  
 
 
48,370
 
 
88,323

Total assets less current liabilities
  
49,967
90,737

  

Net assets
  
49,967
90,737


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
 8 
49,867
90,637

  
49,967
90,737


The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 statement of income and retained earnings 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 by: 




R N Harris
Director
Date: 29 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
Oxlo Properties Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

The Company is a private limited company, incorporated and domiciled in England and Wales. The Company's registered office is  2nd Floor, 168 Shoreditch, High Street, London, E1 6RA and their principal activity is that of provision of property management services.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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.

Page 3

 
Oxlo Properties Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% 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.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.
For financial assets measured at cost less impairment, the impairment loss is measured as the
difference between an asset's carrying amount and best estimate of the recoverable amount, which is
an approximation of the amount that the Company would receive for the asset if it were to be sold at
the balance sheet date. 

 
2.7

Creditors

Short-term creditors are measured at the transaction price. 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.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
Oxlo Properties Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

Taxation

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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.


Employees



The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
Oxlo Properties Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 January 2023
8,382



At 31 December 2023

8,382



Depreciation


At 1 January 2023
5,968


Charge for the year on owned assets
817



At 31 December 2023

6,785



Net book value



At 31 December 2023
1,597



At 31 December 2022
2,414


5.


Debtors

2023
2022
£
£


Other debtors
60,934
63,361

Called up share capital not paid
100
100

Prepayments and accrued income
244
30,649

Tax recoverable
9,195
-

70,473
94,110



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
2,981
-

Trade creditors
10,377
3,663

Corporation tax
8,000
20,000

Other taxation and social security
1,564
33,564

Other creditors
627
627

Accruals and deferred income
3,410
3,500

26,959
61,354


Page 6

 
Oxlo Properties Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



8.


Reserves

Profit and loss account

The Profit and loss account comprises all current and prior period retained profits and losses.
Share capital
This represents the nominal value of shares that have been issued by the company.


9.


Related party transactions

During the period, the company charged management fees of £3,740 (2022: £41,258) to Fairfax (Retail) Properties Limited, a company of which R N Harris and H G Williams are also directors. Nothing was outstanding in relation to this at the year end.  
During the period, the company charged management fees of £25,610 (2022: £306,679) to The Calypso Portfolio, a Group of Companies of which R N Harris and H G Williams are also directors. Nothing was outstanding in relation to this at the year end.  
During the period, the directors met expenditure on behalf of the company totalling £143 (2022: £2,111). The company made repayments of £Nil (2023: £1,778). As at the balance sheet date, the company owed £190 (2023: £333) to the directors.
During the period, the company charged management fees of £1,000 (2022: £Nil) to Sarnia Office Properties Limited, a company of which R N Harris and H G Williams are also directors.
 

10.


Controlling party

The company is under the control of its directors.


Page 7