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Registration number: 11516074

O.A.J. Investment Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

O.A.J. Investment Holdings Limited

Contents

Company Information

1

Statement of financial position

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

O.A.J. Investment Holdings Limited

Company Information

Director

Mr Oscar Jamieson

Registered office

19 King Street
King's Lynn
Norfolk
PE30 1HB

Accountants

Hayhow & Co.
Chartered Certified Accountants & Business Advisers19 King Street
King's Lynn
Norfolk
PE30 1HB

 

O.A.J. Investment Holdings Limited

(Registration number: 11516074)
Statement of financial position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

10,000

10,000

Tangible assets

5

1,851,176

1,601,568

Investment property

6

3,635,949

3,548,923

 

5,497,125

5,160,491

Current assets

 

Debtors

7

412,056

417,760

Cash at bank and in hand

 

1,487

1,068

 

413,543

418,828

Creditors: Amounts falling due within one year

8

(417,567)

(503,731)

Net current liabilities

 

(4,024)

(84,903)

Total assets less current liabilities

 

5,493,101

5,075,588

Creditors: Amounts falling due after more than one year

8

(2,667,594)

(2,580,546)

Provisions for liabilities

(557,143)

(494,643)

Net assets

 

2,268,364

2,000,399

Capital and reserves

 

Called up share capital

9

100

100

Revaluation reserve

2,076,711

1,889,211

Retained earnings

191,553

111,088

Shareholders' funds

 

2,268,364

2,000,399

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.

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Statement of comprehensive income.

Approved and authorised by the director on 25 October 2024
 

 

O.A.J. Investment Holdings Limited

(Registration number: 11516074)
Statement of financial position as at 31 August 2024

.........................................
Mr Oscar Jamieson
Director

 

O.A.J. Investment Holdings Limited

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:
19 King Street
King's Lynn
Norfolk
PE30 1HB

These financial statements were authorised for issue by the director on 25 October 2024.

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.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

O.A.J. Investment Holdings Limited

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

Land

no depreciation

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.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Entitlements

no amortisation

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

 

O.A.J. Investment Holdings Limited

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

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 statement of comprehensive income 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 1).

 

O.A.J. Investment Holdings Limited

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

4

Intangible assets

Entitlements
 £

Total
£

Cost or valuation

At 1 September 2023

10,000

10,000

At 31 August 2024

10,000

10,000

Amortisation

Carrying amount

At 31 August 2024

10,000

10,000

At 31 August 2023

10,000

10,000

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

1,599,999

2,790

1,602,789

Revaluations

250,000

-

250,000

At 31 August 2024

1,849,999

2,790

1,852,789

Depreciation

At 1 September 2023

-

1,221

1,221

Charge for the year

-

392

392

At 31 August 2024

-

1,613

1,613

Carrying amount

At 31 August 2024

1,849,999

1,177

1,851,176

At 31 August 2023

1,599,999

1,569

1,601,568

Included within the net book value of land and buildings above is £1,849,999 (2023 - £1,599,999) The Land and Buildings have been revalued by the director
 .
 

6

Investment properties

 

O.A.J. Investment Holdings Limited

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

2024
£

At 1 September

3,548,923

Additions

87,026

At 31 August

3,635,949

A valuation of the Investment Property has been carried out by the director

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

-

996

Amounts owed by related parties

12

400,056

404,764

Prepayments

 

12,000

12,000

   

412,056

417,760

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

2,952

2,952

Trade creditors

 

16,339

31,541

Amounts due to related parties

12

346,993

444,105

Social security and other taxes

 

10,781

1,701

Accruals

 

2,150

-

Tax liability

36,690

18,315

Gross amount due to customers for contract work

 

1,662

5,117

 

417,567

503,731

Due after one year

 

Loans and borrowings

11

2,667,594

2,580,546

 

O.A.J. Investment Holdings Limited

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

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

2,667,594

2,580,546

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

80

80

80

80

Ordinary B of £1 each

20

20

20

20

100

100

100

100

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

187,500

187,500

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

325,000

325,000

 

O.A.J. Investment Holdings Limited

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

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,667,594

2,580,546

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,952

2,952

Other borrowings

The carrying amount of at year end is £Nil (2023 - £Nil).

12

Related party transactions

Summary of transactions with entities with joint control or significant interest

Loans to Drove Orchards Limited a company which has mutual directors.

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

404,765

404,765

Repaid

(4,709)

(4,709)

At end of period

400,056

400,056

2023

Entities with joint control or significant influence
£

Total
£

At start of period

444,886

444,886

Repaid

(40,121)

(40,121)

At end of period

404,765

404,765