REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 June 2024 |
for |
Oxygen Property Projects Ltd |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
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 were approved by the director and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
Additions |
At 29 June 2024 |
NET BOOK VALUE |
At 29 June 2024 |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.6.24 | 29.6.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
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 |
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. |