Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Mrs C England 09/06/2021 Mr S C England 05/08/2013 19 May 2025 The principal activity of the Company during the financial year was that of letting or operating of owned real estate. 08638583 2024-10-31 08638583 bus:Director1 2024-10-31 08638583 bus:Director2 2024-10-31 08638583 2023-10-31 08638583 core:CurrentFinancialInstruments 2024-10-31 08638583 core:CurrentFinancialInstruments 2023-10-31 08638583 core:ShareCapital 2024-10-31 08638583 core:ShareCapital 2023-10-31 08638583 core:RetainedEarningsAccumulatedLosses 2024-10-31 08638583 core:RetainedEarningsAccumulatedLosses 2023-10-31 08638583 core:LandBuildings 2023-10-31 08638583 core:OtherPropertyPlantEquipment 2023-10-31 08638583 core:LandBuildings 2024-10-31 08638583 core:OtherPropertyPlantEquipment 2024-10-31 08638583 core:WithinOneYear 2024-10-31 08638583 core:WithinOneYear 2023-10-31 08638583 core:BetweenOneFiveYears 2024-10-31 08638583 core:BetweenOneFiveYears 2023-10-31 08638583 core:MoreThanFiveYears 2024-10-31 08638583 core:MoreThanFiveYears 2023-10-31 08638583 2023-11-01 2024-10-31 08638583 bus:FilletedAccounts 2023-11-01 2024-10-31 08638583 bus:SmallEntities 2023-11-01 2024-10-31 08638583 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 08638583 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 08638583 bus:Director1 2023-11-01 2024-10-31 08638583 bus:Director2 2023-11-01 2024-10-31 08638583 core:LandBuildings 2023-11-01 2024-10-31 08638583 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 08638583 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Company No: 08638583 (England and Wales)

OWNINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

OWNINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

OWNINGS LIMITED

BALANCE SHEET

As at 31 October 2024
OWNINGS LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 175,347 55,213
Investment property 4 1,273,272 1,000,000
1,448,619 1,055,213
Current assets
Debtors 5 433,818 87,743
Cash at bank and in hand 13,308 27,466
447,126 115,209
Creditors: amounts falling due within one year 6 ( 2,427,633) ( 1,569,287)
Net current liabilities (1,980,507) (1,454,078)
Total assets less current liabilities (531,888) (398,865)
Net liabilities ( 531,888) ( 398,865)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 531,988 ) ( 398,965 )
Total shareholders' deficit ( 531,888) ( 398,865)

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Ownings Limited (registered number: 08638583) were approved and authorised for issue by the Board of Directors on 19 May 2025. They were signed on its behalf by:

Mr S C England
Director
OWNINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
OWNINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ownings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Old Brickyard Farm Shaftesbury Road, Motcombe, Shaftesbury, SP7 9NP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover represents the fair value of services provided under contracts with customers to the extent there is a right to consideration. It is measured at the fair value of consideration due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 10 % reducing balance
Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 November 2023 0 66,285 66,285
Additions 69,489 68,824 138,313
At 31 October 2024 69,489 135,109 204,598
Accumulated depreciation
At 01 November 2023 0 11,072 11,072
Charge for the financial year 2,530 15,649 18,179
At 31 October 2024 2,530 26,721 29,251
Net book value
At 31 October 2024 66,959 108,388 175,347
At 31 October 2023 0 55,213 55,213

4. Investment property

Investment property
£
Valuation
As at 01 November 2023 1,000,000
Additions 273,272
As at 31 October 2024 1,273,272

The investment properties class of fixed assets was revalued on 25 April 2023 by Woolley and Wallis who is external to the company. The basis of the valuation was market value. This class of assets has a current value of £1,273,272 (2023 - £1,000.000) and a carrying amount at historical cost of £1,562,543 (2023 - £1,289,271). The depreciation on this historical cost is £0 (2023 - £0).

The directors do not consider that there has been any significant change in the valuation of investment properties between the date of the last full valuation and the current balance sheet date.

5. Debtors

2024 2023
£ £
Trade debtors 3,180 2,151
Prepayments 4,695 886
VAT recoverable 32,933 23,553
Other debtors 393,010 61,153
433,818 87,743

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 47,642 36,851
Amounts owed to directors 639,952 390,876
Accruals 15,550 11,400
Other creditors 1,724,489 1,130,160
2,427,633 1,569,287

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 38,040 38,040
between one and five years 152,160 152,160
after five years 76,080 114,120
266,280 304,320

8. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
SE Marine Limited 1,724,489 1,130,160

C England and S England are the directors and shareholders of both the companies.