REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
OUTSTANDING PROPERTY LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
OUTSTANDING PROPERTY LTD |
OUTSTANDING PROPERTY LTD (REGISTERED NUMBER: 11473362) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
OUTSTANDING PROPERTY LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BANKERS: |
Leicester |
LE87 2BB |
OUTSTANDING PROPERTY LTD (REGISTERED NUMBER: 11473362) |
ABRIDGED BALANCE SHEET |
31 JULY 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Revaluation reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges his 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. |
OUTSTANDING PROPERTY LTD (REGISTERED NUMBER: 11473362) |
ABRIDGED BALANCE SHEET - continued |
31 JULY 2024 |
The financial statements were approved by the director and authorised for issue on |
OUTSTANDING PROPERTY LTD (REGISTERED NUMBER: 11473362) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
Outstanding Property Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis the director having agreed to continue to support the company. |
Turnover |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
Investment property |
All of the company's investment properties are held for long-term investment and are included in the Balance Sheet at open market value. The surpluses or deficits on revaluation of freehold properties are transferred to the investment property revaluation reserve which is a departure from Financial Reporting Standard 102. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 August 2023 |
Revaluations |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Cost or valuation at 31 July 2024 is represented by: |
£ |
Valuation in 2024 | 144,686 |
Cost | 235,314 |
380,000 |
OUTSTANDING PROPERTY LTD (REGISTERED NUMBER: 11473362) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
4. | INVESTMENT PROPERTY - continued |
If investment had not been revalued they would have been included at the following historical cost: |
31.7.24 | 31.7.23 |
£ | £ |
Cost | 235,314 | 235,314 |
investment properties were valued on an open market basis on 31 July 2024 by Mr M Cameron . |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 31.7.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
6. | RELATED PARTY DISCLOSURES |
At 31st July 2023 Mr M Cameron, a director of the company, had on an unsecured advanced £337,263 (2022: £330,586) to the company, of this amount £320,000 is of a longer term nature and will not be withdrawn within 12 months of the balance sheet date. |
The company was charged to 31st July 2023 £6,000 (2022:£6,000) interest on the advance. |
7. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr M Cameron. |