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Registration number: 14100563

Oliza Properties Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

Oliza Properties Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Oliza Properties Ltd

Company Information

Directors

Mrs Lucyna Izabela Rynkiewicz-Jones

Mr Martin Jones

Registered office

Onyx House
12 Phoenix Business Park
Avenue Close
Birmingham
West Midlands
B7 4NU

Accountants

Onyx Accountants Limited
Chartered Management AccountantsOnyx House
12 Phoenix Business Park
Avenue Close
Birmingham
West Midlands
B7 4NU

 

Oliza Properties Ltd

(Registration number: 14100563)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,904

34,289

Investment property

372,000

150,000

 

376,904

184,289

Current assets

 

Debtors

5

132,716

44,130

Cash at bank and in hand

 

838

354

 

133,554

44,484

Prepayments and accrued income

 

136

110

Creditors: Amounts falling due within one year

(852)

(150,479)

Net current assets/(liabilities)

 

132,838

(105,885)

Total assets less current liabilities

 

509,742

78,404

Creditors: Amounts falling due after more than one year

(539,062)

(113,495)

Accruals and deferred income

 

(1,140)

(780)

Net liabilities

 

(30,460)

(35,871)

Capital and reserves

 

Called up share capital

10

10

Retained earnings

(30,470)

(35,881)

Shareholders' deficit

 

(30,460)

(35,871)

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

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 May 2025 and signed on its behalf by:
 

 

Oliza Properties Ltd

(Registration number: 14100563)
Abridged Balance Sheet as at 31 May 2024

.........................................
Mrs Lucyna Izabela Rynkiewicz-Jones
Director

 

Oliza Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Onyx House
12 Phoenix Business Park
Avenue Close
Birmingham
West Midlands
B7 4NU
England

These financial statements were authorised for issue by the Board on 21 May 2025.

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 abridged 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 abridged 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.

Going concern

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 deferred 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.

 

Oliza Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Fixtures and fittings

25% on reducing balance

Plant and machinery

25% on reducing balance

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.

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.

 

Oliza Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

45,000

719

45,719

Additions

6,000

-

6,000

Disposals

(33,750)

-

(33,750)

At 31 May 2024

17,250

719

17,969

Depreciation

At 1 June 2023

11,250

180

11,430

Charge for the year

1,500

135

1,635

At 31 May 2024

12,750

315

13,065

Carrying amount

At 31 May 2024

4,500

404

4,904

At 31 May 2023

33,750

539

34,289

Investment properties

 

Oliza Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

2024
£

At 1 June

150,000

Acquired through business combinations

222,000

At 31 May

372,000

There has been no valuation of investment property by an independent valuer.

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.