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REGISTERED NUMBER: 12080551 (England and Wales)










Otendal Property Investments Ltd

Unaudited Financial Statements

for the Year Ended 30 July 2024






Otendal Property Investments Ltd (Registered number: 12080551)






Contents of the Financial Statements
for the Year Ended 30 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Otendal Property Investments Ltd

Company Information
for the Year Ended 30 July 2024







DIRECTORS: Mr U Otendal
Mr M Otendal





REGISTERED OFFICE: Shacter Cohen & Bor
31 Sackville Street
Manchester
M1 3LZ





REGISTERED NUMBER: 12080551 (England and Wales)






Otendal Property Investments Ltd (Registered number: 12080551)

Balance Sheet
30 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 837,384 648,269

CURRENT ASSETS
Debtors 6 225,000 -
Cash at bank 1,858 319,937
226,858 319,937
CREDITORS
Amounts falling due within one year 7 (414,757 ) (472,409 )
NET CURRENT LIABILITIES (187,899 ) (152,472 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

649,485

495,797

CREDITORS
Amounts falling due after more than one year 8 (550,010 ) (606,346 )

PROVISIONS FOR LIABILITIES (47,444 ) -
NET ASSETS/(LIABILITIES) 52,031 (110,549 )

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Revaluation reserve 11 142,332 -
Retained earnings (100,301 ) (120,549 )
SHAREHOLDERS' FUNDS 52,031 (110,549 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 July 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.

Otendal Property Investments Ltd (Registered number: 12080551)

Balance Sheet - continued
30 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





Mr U Otendal - Director


Otendal Property Investments Ltd (Registered number: 12080551)

Notes to the Financial Statements
for the Year Ended 30 July 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:
Shacter Cohen & Bor
31 Sackville Street
Manchester
England
M1 3LZ

2. 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).

3. ACCOUNTING POLICIES

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.

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.

GOING CONCERN
The financial statements have been prepared on a going concern basis on the assumption of continual support of the directors.

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.

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:




Otendal Property Investments Ltd (Registered number: 12080551)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2024

Asset class Depreciation method and rate
Computer Equipment 20% Written Down Value

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Otendal Property Investments Ltd (Registered number: 12080551)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2024

5. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST OR VALUATION
At 31 July 2023 644,966 4,129 649,095
Revaluations 189,776 - 189,776
At 30 July 2024 834,742 4,129 838,871
DEPRECIATION
At 31 July 2023 - 826 826
Charge for year - 661 661
At 30 July 2024 - 1,487 1,487
NET BOOK VALUE
At 30 July 2024 834,742 2,642 837,384
At 30 July 2023 644,966 3,303 648,269

Cost or valuation at 30 July 2024 is represented by:

Freehold Computer
property equipment Totals
£    £    £   
Valuation in 2024 189,776 - 189,776
Cost 644,966 4,129 649,095
834,742 4,129 838,871

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors- Morecambe Bay Construction
LTD

225,000

-

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 83 1,356
Directors' current accounts 412,514 469,013
Accruals 2,160 2,040
414,757 472,409

Otendal Property Investments Ltd (Registered number: 12080551)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans (see note 9) 550,010 606,346

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due between one and two years:
Other Loans- HTB 260,240 260,110
HTB Loan Re: Albert Rd & Thornton Rd 269,212 269,178
Louise Otendal 20,558 77,058
550,010 606,346

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary share 1 10,000 10,000

11. RESERVES
Revaluation
reserve
£   
Revaluation on assets 142,332

At 30 July 2024 142,332