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REGISTERED NUMBER: 13549929 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

OVINGTON LTD

OVINGTON LTD (REGISTERED NUMBER: 13549929)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OVINGTON LTD

COMPANY INFORMATION
for the Year Ended 31 August 2024







DIRECTORS: Mr M B Dissanayake
Mrs D Dissanayake





REGISTERED OFFICE: 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ





REGISTERED NUMBER: 13549929 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

OVINGTON LTD (REGISTERED NUMBER: 13549929)

BALANCE SHEET
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 6,490 2,170
Investment property 5 998,985 988,985
1,005,475 991,155

CURRENT ASSETS
Debtors 6 3,670 3,560
Cash at bank and in hand 1,805 2,896
5,475 6,456
CREDITORS
Amounts falling due within one year 7 18,938 4,145
NET CURRENT (LIABILITIES)/ASSETS (13,463 ) 2,311
TOTAL ASSETS LESS CURRENT
LIABILITIES

992,012

993,466

CREDITORS
Amounts falling due after more than one
year

8

(989,250

)

(989,225

)

PROVISIONS FOR LIABILITIES 9 (587 ) (868 )
NET ASSETS 2,175 3,373

CAPITAL AND RESERVES
Called up share capital 10 1 1
Fair value reserve 11 23,690 15,590
Retained earnings (21,516 ) (12,218 )
SHAREHOLDERS' FUNDS 2,175 3,373

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

OVINGTON LTD (REGISTERED NUMBER: 13549929)

BALANCE SHEET - continued
31 August 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 21 May 2025 and were signed on its behalf by:





Mr M B Dissanayake - Director


OVINGTON LTD (REGISTERED NUMBER: 13549929)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Ovington Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes derived from ordinary activities. Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

OVINGTON LTD (REGISTERED NUMBER: 13549929)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

OVINGTON LTD (REGISTERED NUMBER: 13549929)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023 2,158 675 2,833
Additions 4,980 - 4,980
At 31 August 2024 7,138 675 7,813
DEPRECIATION
At 1 September 2023 419 244 663
Charge for year 435 225 660
At 31 August 2024 854 469 1,323
NET BOOK VALUE
At 31 August 2024 6,284 206 6,490
At 31 August 2023 1,739 431 2,170

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 988,985
Revaluations 10,000
At 31 August 2024 998,985
NET BOOK VALUE
At 31 August 2024 998,985
At 31 August 2023 988,985

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2023 19,247
Valuation in 2024 10,000
Cost 969,738
998,985

OVINGTON LTD (REGISTERED NUMBER: 13549929)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 3,350 3,350
Prepayments and accrued income 320 210
3,670 3,560

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other creditors 3,350 3,350
Directors' current accounts 14,687 315
Accruals 901 480
18,938 4,145

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans more 5 yrs non-inst 378,507 378,493
Other loans more 5yrs non-inst 305,743 305,732
Directors' loan accounts 305,000 305,000
989,250 989,225

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 378,507 378,493
Other loans more 5yrs non-inst 305,743 305,732
684,250 684,225

Bank and Other Loans are secured by way of a legal charge on the properties concerned.

9. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax
Accelerated capital allowances 1,233 412
Tax losses carried forward (6,203 ) (3,201 )
Other timing differences 5,557 3,657
587 868

OVINGTON LTD (REGISTERED NUMBER: 13549929)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 868
Provided during year (281 )
Balance at 31 August 2024 587

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £0.01 1 1

11. RESERVES
Fair
value
reserve
£   
At 1 September 2023 15,590
Revaluation 8,100

At 31 August 2024 23,690