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Registered number: 12005042
Origin Management Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 May 2024
360 Accountants Limited
19 Albion Street
Hull
East Yorkshire
HU1 3TG
Contents
Page
Company Information 1
Abridged Balance Sheet 2—3
Notes to the Abridged Financial Statements 4—5
Page 1
Company Information
Directors Ms K C Ting
Mr S Yew Ting
Mrs S Lau
Mr X Tan
Company Number 12005042
Registered Office 21 Buxworth Close
Hull
East Yorkshire
HU3 5DZ
Accountants 360 Accountants Limited
19 Albion Street
Hull
East Yorkshire
HU1 3TG
Bankers Lloyds TSB Bank Plc
1 - 7 George Street
Hull
East Yorkshire
HU1 3BB
Page 1
Page 2
Abridged Balance Sheet
Registered number: 12005042
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,263,478 1,263,478
1,263,478 1,263,478
CURRENT ASSETS
Cash at bank and in hand 10,974 5,763
10,974 5,763
Creditors: Amounts Falling Due Within One Year (636,700 ) (773,828 )
NET CURRENT ASSETS (LIABILITIES) (625,726 ) (768,065 )
TOTAL ASSETS LESS CURRENT LIABILITIES 637,752 495,413
Creditors: Amounts Falling Due After More Than One Year (494,427 ) (583,584 )
NET ASSETS/(LIABILITIES) 143,325 (88,171 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 143,225 (88,271 )
SHAREHOLDERS' FUNDS 143,325 (88,171)
Page 2
Page 3
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr S Yew Ting
Director
26th February 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Abridged Financial Statements
1. General Information
Origin Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12005042 . The registered office is 21 Buxworth Close, Hull, East Yorkshire, HU3 5DZ.
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. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 1,263,478
Disposals -
As at 31 May 2024 1,263,478
5. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 596,145 695,711
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Page 5
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7. Ultimate Controlling Party
In the opinion of the directors, there is no one ultimate controlling party.
8. Exemption From Preparing Group Accounts
These accounts represent information as a single entity. Group accounts are not required as the group qualifies as a small sized group.
Page 5