Registered number
03199550
Ottoman Estates Limited
Unaudited Filleted Accounts
31 May 2024
Ottoman Estates Limited
Registered number: 03199550
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 730,112 730,671
Current assets
Debtors 4 11,753 12,522
Cash at bank and in hand 39,622 3,767
51,375 16,289
Creditors: amounts falling due within one year 5 (203,730) (163,714)
Net current liabilities (152,355) (147,425)
Total assets less current liabilities 577,757 583,246
Creditors: amounts falling due after more than one year 6 (14,167) (24,167)
Provisions for liabilities (76,885) (76,885)
Net assets 486,705 482,194
Capital and reserves
Called up share capital 49,250 49,250
Capital Redemption Reserve Brought forward 19,390 19,390
Profit and loss account 418,065 413,554
Shareholders' funds 486,705 482,194
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Ahmet
Director
Approved by the board on 26 February 2025
Ottoman Estates Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and 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).
Turnover
Turnover represents the rentals chargeable to tenants.
Tangible fixed assets
Depreciation is provided at the following rates in order to write off the assets over their expected useful lives, as follows:
Plant and machinery over 5 years
Investment Properties
The Investment Properties are shown at their fair value as estimated by the Directors. Any movements in fair value are recognized in arriving at the profit before tax. Deferred tax is provided for against these movements.
Deferred Taxation
Deferred tax is recognised in respect of all timing differences (including fair value adjustments) that have originated but not reveresed by the Balance Sheet date. Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing differences are expected to reverse.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 730,000 6,096 736,096
At 31 May 2024 730,000 6,096 736,096
Depreciation
At 1 June 2023 - 5,425 5,425
Charge for the year - 559 559
At 31 May 2024 - 5,984 5,984
Net book value
At 31 May 2024 730,000 112 730,112
At 31 May 2023 730,000 671 730,671
4 Debtors 2024 2023
£ £
Trade debtors 8,532 8,932
Other debtors 3,221 3,590
11,753 12,522
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 23,602 21,397
Taxation and social security costs 14,752 14,670
Other creditors 155,376 117,647
203,730 163,714
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,167 24,167
7 Controlling party
No one individual is the company's controlling party.
8 Other information
Ottoman Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Tolherst Court, Turkey Mill Business Park
Ashford Road
Maidstone
Kent
ME14 5SF
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