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REGISTERED NUMBER: 08860046 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 June 2024

for

Oxygen Property Projects Ltd

Oxygen Property Projects Ltd (Registered number: 08860046)






Contents of the Financial Statements
for the Year Ended 29 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oxygen Property Projects Ltd

Company Information
for the Year Ended 29 June 2024







DIRECTOR: B M Plant





REGISTERED OFFICE: 102 Chaveney Road
Quorn
Loughborough
LE12 8AD





REGISTERED NUMBER: 08860046 (England and Wales)





ACCOUNTANTS: Financial Answers Limited
102 Chaveney Road
Quorn
Loughborough
Leicestershire
LE12 8AD

Oxygen Property Projects Ltd (Registered number: 08860046)

Balance Sheet
29 June 2024

29.6.24 29.6.23
Notes £    £    £    £   
FIXED ASSETS
Investments 5 25,000 -

CURRENT ASSETS
Stocks 1,438,332 34,566
Debtors 6 74,827 52,887
Cash at bank 68,279 46,569
1,581,438 134,022
CREDITORS
Amounts falling due within one year 7 1,135,556 22,923
NET CURRENT ASSETS 445,882 111,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

470,882

111,099

CREDITORS
Amounts falling due after more than one
year

8

377,079

-
NET ASSETS 93,803 111,099

CAPITAL AND RESERVES
Called up share capital 1 1
Share premium 99 99
Retained earnings 93,703 110,999
93,803 111,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Oxygen Property Projects Ltd (Registered number: 08860046)

Balance Sheet - continued
29 June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 February 2025 and were signed by:





B M Plant - Director


Oxygen Property Projects Ltd (Registered number: 08860046)

Notes to the Financial Statements
for the Year Ended 29 June 2024

1. STATUTORY INFORMATION

Oxygen Property Projects Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Investment property
Investment property is initially measured at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised as profit or loss.

If a reliable measure of fair value is not available without undue cost or effort it shall be transferred to tangible assets and accounted for under the cost model until it is expected that fair value will be readily measurable on an ongoing basis.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


Oxygen Property Projects Ltd (Registered number: 08860046)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 25,000
At 29 June 2024 25,000
NET BOOK VALUE
At 29 June 2024 25,000

As a result of events subsequent to the balance sheet date, the investment value is considered to be nil at the date of signing these financial statements.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.6.24 29.6.23
£    £   
Other debtors 74,827 52,887

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.6.24 29.6.23
£    £   
Trade creditors 2,684 22
Taxation and social security - 20,544
Other creditors 1,132,872 2,357
1,135,556 22,923

Oxygen Property Projects Ltd (Registered number: 08860046)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.6.24 29.6.23
£    £   
Other creditors 377,079 -

9. SECURED DEBTS

The following secured debts are included within creditors:

29.6.24 29.6.23
£    £   
Think Property Finance 1,130,947 -

The loan is secured on the property included in work-in-progress and a floating charge over the company's assets.