Company Registration No. 13020719 (England and Wales)
OKAVANGO PROPERTY INVESTMENTS LTD
Unaudited accounts
for the year ended 31 October 2024
OKAVANGO PROPERTY INVESTMENTS LTD
Unaudited accounts
Contents
OKAVANGO PROPERTY INVESTMENTS LTD
Company Information
for the year ended 31 October 2024
Company Number
13020719 (England and Wales)
Registered Office
32 Brampton Park Road
Hitchin
Hertfordshire
SG5 1XF
UK
Accountants
The Book Monitor Ltd
121 London Road
Knebworth
Hertfordshire
SG3 6EX
OKAVANGO PROPERTY INVESTMENTS LTD
Statement of financial position
as at 31 October 2024
Investment property
1,294,000
1,294,000
Cash at bank and in hand
100,444
80,596
Creditors: amounts falling due within one year
(10,580)
(11,828)
Net current assets
89,864
68,768
Total assets less current liabilities
1,383,864
1,362,768
Creditors: amounts falling due after more than one year
(12,299)
(12,792)
Provisions for liabilities
Deferred tax
(155,351)
(155,351)
Net assets
1,216,214
1,194,625
Called up share capital
100
100
Share premium
1,025,969
1,025,969
Fair value reserve
112,590
112,590
Profit and loss account
77,555
55,966
Shareholders' funds
1,216,214
1,194,625
For the year ending 31 October 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 January 2025 and were signed on its behalf by
Emma M Wagner
Director
Company Registration No. 13020719
OKAVANGO PROPERTY INVESTMENTS LTD
Notes to the Accounts
for the year ended 31 October 2024
OKAVANGO PROPERTY INVESTMENTS LTD is a private company, limited by shares, registered in England and Wales, registration number 13020719. The registered office is 32 Brampton Park Road, Hitchin, Hertfordshire, SG5 1XF, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention and in accordance with FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the Standard).
The accounts are presented in £ sterling.
Investment properties are included in the Balance Sheet at their fair value in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the Standard) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but, in the opinion of the Director, is necessary in order to give a true and fair view of the financial position of the company. Revaluation gains and losses are recognised in the profit and loss account.
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 rental of investment properties.
Fair value at 1 November 2023
1,294,000
At 31 October 2024
1,294,000
The 2021 valuations were made by the Director, on fair value for existing use basis, at the close of the accounting period.
5
Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,112
1,082
Taxes and social security
8,480
6,983
Loans from directors
988
684
Short term creditors are measured at the transaction price (which is usually the invoice price).
OKAVANGO PROPERTY INVESTMENTS LTD
Notes to the Accounts
for the year ended 31 October 2024
6
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
12,299
12,792
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Transactions with related parties
At the year end there was a balance of £13,290 due to the parent company. No interest was charged and it is repayable on demand.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).