Registered number
07812450
Oatley and Overy Property Ltd
Filleted Accounts
31 October 2024
Oatley and Overy Property Ltd
Registered number: 07812450
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 365,000 365,000
Current assets
Debtors 4 2,815 2,815
Cash at bank and in hand 7,067 27,525
9,882 30,340
Creditors: amounts falling due within one year 5 (346,837) (196,045)
Net current liabilities (336,955) (165,705)
Total assets less current liabilities 28,045 199,295
Creditors: amounts falling due after more than one year 6 (203,231) (262,526)
Net liabilities (175,186) (63,231)
Capital and reserves
Called up share capital 100 100
Profit and loss account (175,286) (63,331)
Shareholders' funds (175,186) (63,231)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr N Overy
Director
Approved by the board on 4 June 2025
Oatley and Overy Property Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Are not depreciated
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2023 365,000
At 31 October 2024 365,000
Depreciation
At 31 October 2024 -
Net book value
At 31 October 2024 365,000
At 31 October 2023 365,000
4 Debtors 2024 2023
£ £
Other debtors 2,815 2,815
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 997 808
Taxation and social security costs 95 95
Other creditors 345,745 195,142
346,837 196,045
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 203,231 262,526
7 Other information
Oatley and Overy Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
14 Foster Street
Maidstone
Kent
ME15 6NH
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