Ottilie Property Ltd 14302614 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Buying and selling of own real estate Digita Accounts Production Advanced 6.30.9574.0 true true 14302614 2023-09-01 2024-08-31 14302614 2024-08-31 14302614 bus:OrdinaryShareClass1 2024-08-31 14302614 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 14302614 core:FurnitureFittingsToolsEquipment 2024-08-31 14302614 bus:SmallEntities 2023-09-01 2024-08-31 14302614 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 14302614 bus:FilletedAccounts 2023-09-01 2024-08-31 14302614 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 14302614 bus:RegisteredOffice 2023-09-01 2024-08-31 14302614 bus:Director1 2023-09-01 2024-08-31 14302614 bus:Director2 2023-09-01 2024-08-31 14302614 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 14302614 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 14302614 core:FurnitureFittings 2023-09-01 2024-08-31 14302614 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 14302614 countries:EnglandWales 2023-09-01 2024-08-31 14302614 2023-08-31 14302614 core:FurnitureFittingsToolsEquipment 2023-08-31 14302614 2022-08-17 2023-08-31 14302614 2023-08-31 14302614 bus:OrdinaryShareClass1 2023-08-31 14302614 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 14302614 core:FurnitureFittingsToolsEquipment 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14302614

Ottilie Property Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Ottilie Property Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Ottilie Property Ltd

Company Information

Directors

Mr John J Alexander

Mrs Celia C Alexander

Registration number

14302614

Registered office

Wheat Barn
Church Road
Greatworth
Oxfordshire
OX17 2DU

Accountants

mca Shepherd Smail
21 Market Place
Cirencester
Gloucestershire
GL7 2NX

 

Ottilie Property Ltd

(Registration number: 14302614)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,185

5,580

Investment property

5

210,000

170,000

 

214,185

175,580

Current assets

 

Cash at bank and in hand

 

1,790

1,895

Creditors: Amounts falling due within one year

6

(222,999)

(222,540)

Net current liabilities

 

(221,209)

(220,645)

Net liabilities

 

(7,024)

(45,065)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(7,026)

(45,067)

Shareholders' deficit

 

(7,024)

(45,065)

 

Ottilie Property Ltd

(Registration number: 14302614)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 February 2025 and signed on its behalf by:
 

Mr John J Alexander

Director

 

Ottilie Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wheat Barn
Church Road
Greatworth
Oxfordshire
OX17 2DU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Ottilie Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Ottilie Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

7,440

7,440

At 31 August 2024

7,440

7,440

Depreciation

At 1 September 2023

1,860

1,860

Charge for the year

1,395

1,395

At 31 August 2024

3,255

3,255

Carrying amount

At 31 August 2024

4,185

4,185

At 31 August 2023

5,580

5,580

5

Investment properties

2024
£

At 1 September

170,000

Fair value adjustments

40,000

At 31 August

210,000

The investment property was valued at open market value of £210,000 by the directors on 31 August 2024.

There has been no valuation of investment property by an independent valuer.

 

Ottilie Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,200

1,200

Other creditors

221,799

221,340

222,999

222,540

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2