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Registered number: 13926894
Oricon Properties Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
MICROTAX ACCOUNTANTS LTD
318 Barking Road
London
E13 8HL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13926894
28 February 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 750,000 750,000
750,000 750,000
CURRENT ASSETS
Debtors 5 26,025 2,025
Cash at bank and in hand 3,827 28,275
29,852 30,300
Creditors: Amounts Falling Due Within One Year 6 (450 ) -
NET CURRENT ASSETS (LIABILITIES) 29,402 30,300
TOTAL ASSETS LESS CURRENT LIABILITIES 779,402 780,300
Creditors: Amounts Falling Due After More Than One Year 7 (697,369 ) (716,746 )
NET ASSETS 82,033 63,554
CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve 9 63,214 63,214
Profit and Loss Account 18,818 339
SHAREHOLDERS' FUNDS 82,033 63,554
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr MOHAMMAD NAZMUL HODA
Director
24/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Oricon Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13926894 . The registered office is 318 Barking Road, London, E13 8HL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 March 2023 750,000
As at 28 February 2024 750,000
...CONTINUED
Page 3
Page 4
Net Book Value
As at 28 February 2024 750,000
As at 1 March 2023 750,000
5. Debtors
28 February 2024 28 February 2023
£ £
Due within one year
Trade debtors 26,025 2,025
6. Creditors: Amounts Falling Due Within One Year
28 February 2024 28 February 2023
£ £
Other creditors 450 -
7. Creditors: Amounts Falling Due After More Than One Year
28 February 2024 28 February 2023
£ £
Bank loans 394,000 400,000
Directors loan account 303,369 316,746
697,369 716,746
8. Share Capital
28 February 2024 28 February 2023
£ £
Allotted, Called up and fully paid 1 1
9. Reserves
Revaluation Reserve
£
As at 1 March 2023 63,214
As at 28 February 2024 63,214
Page 4