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REGISTERED NUMBER: 02156907 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 31 March 2024

for

ODSEY PROPERTIES LIMITED

ODSEY PROPERTIES LIMITED (REGISTERED NUMBER: 02156907)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

ODSEY PROPERTIES LIMITED

Company Information
for the year ended 31 March 2024







DIRECTORS: C J K Fordham MA
C H C Fordham
S S Fordham
L Butcher
R P Fordham
Mrs A N Denehy





SECRETARY: L Butcher





REGISTERED OFFICE: Estate Office
Odsey Park
Ashwell
Baldock
Hertfordshire
SG7 6SD





REGISTERED NUMBER: 02156907 (England and Wales)





ACCOUNTANTS: Trevor Jones & Partners Ltd
Unit 14
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ

ODSEY PROPERTIES LIMITED (REGISTERED NUMBER: 02156907)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks - 81,918
Debtors 4 92,735 84,130
Cash at bank 396 1,532
93,131 167,580
CREDITORS
Amounts falling due within one year 5 69,032 65,600
NET CURRENT ASSETS 24,099 101,980
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,099

101,980

CREDITORS
Amounts falling due after more than one year 6 604,420 604,420
NET LIABILITIES (580,321 ) (502,440 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (580,421 ) (502,540 )
SHAREHOLDERS' FUNDS (580,321 ) (502,440 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ODSEY PROPERTIES LIMITED (REGISTERED NUMBER: 02156907)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





C H C Fordham - Director


ODSEY PROPERTIES LIMITED (REGISTERED NUMBER: 02156907)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Odsey Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Stocks
Stocks and work in progress are stated at lower of cost and net realisable value as established by the directors. Cost comprises land and development expenditure incurred to the present state of the project.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
VAT 30 1,553

Amounts falling due after more than one year:
Accumulated rent charged to FFP 92,705 82,577

Aggregate amounts 92,735 84,130

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,215 3,911
Tax - 1,107
Project Capital from FFP 1 23,078 23,078
Project Capital from FFP 2 14,538 8,368
Project Capital from LB 14,500 14,500
Project Capital from AND 12,500 12,500
Accrued expenses 2,201 2,136
69,032 65,600

ODSEY PROPERTIES LIMITED (REGISTERED NUMBER: 02156907)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Directors` loan accounts 604,420 604,420

Directors` loans consist of £604,420 (2023 - £604,420 ) Due to C.H.C. Fordham £550,395 (2023 - £550,395) due to C.J.K. Fordham and £54,025 (2023 - £54,025).

These other loans and the directors` loans are unsecured, interest free and there are no fixed repayment dates. The loan holders, however, have agreed that they will neither withdraw their support within a year of approval of the accounts nor demand repayment until the company makes sufficient profits to enable repayments to be made.

7. RELATED PARTY DISCLOSURES

During the year the company earned rent of £7,000 (2023 - £7,000) from Fordham Farming Partnership on a normal commercial basis. The company directors are partners in Fordham Farming Partnership.

8. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party

9. GOING CONCERN

The financial statements have been prepared on a going concern basis. This basis may not be appropriate because the company had a balance sheet deficit of £580,321 at 31 March 2024. The directors have already committed substantial sums of money to the company and have undertaken to continue to support the company so that, together with the bank facilities available, the company is able to meet its liabilities as they fall due and to carry on its business without a significant curtailment of operations.

Should the company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify long term liabilities as current liabilities.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Odsey Properties Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Odsey Properties Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Odsey Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Odsey Properties Limited and state those matters that we have agreed to state to the Board of Directors of Odsey Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Odsey Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Odsey Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Odsey Properties Limited. You consider that Odsey Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Odsey Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Trevor Jones & Partners Ltd
Unit 14
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ


12 December 2024