Orinoco Property Portfolio Limited Accounts






Orinoco Property Portfolio Limited

	Company No. 14970206
		Information for Filing with The Registrar
		30 June 2024

at	30 June 2024
Company No.		14970206	Notes	2024
				£
Fixed assets


	Investment property		4	8,208,400

				8,208,400
Current assets

	Debtors		5	340,443

	Cash at bank and in hand			25,321
				365,764
Creditors: Amount falling due within one year			6	(269,090)
Net current assets				96,674
Total assets less current liabilities				8,305,074
Creditors: Amounts falling due after more than one year			7	(6,107,169)



Net assets				2,197,905

Capital and reserves
	Called up share capital			98
	Share premium account		9	2,969,037


	Profit and loss account		9	(771,230)

Total equity				2,197,905



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 16 June 2025 and signed on its behalf by:
D.J. Coughlin
Director
16 June 2025

for the period ended 30 June 2024

General information

Orinoco Property Portfolio Limited is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 14970206

Its registered office is:

1 Hunters Walk

Canal Walk

Chester

CH1 4EB

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the rent receivable under the terms of residential rental contracts.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2024
			Number	Number
		The average monthly number of employees (including directors) during the period:	1	1

4	Investment property
			Freehold Investment Property
			£
		Valuation

		Additions	10,093,400

		Disposals	(1,885,000)
		At 30 June 2024	8,208,400

5	Debtors
			2024
			£






		Other debtors	340,443

			340,443

6	Creditors:
		amounts falling due within one year
			2024
			£

		Bank loans and overdrafts	10,000


		Trade creditors	8,279


		Loans from directors	25,423
		Other creditors	222,387
		Accruals and deferred income	3,001
			269,090

7	Creditors:
		amounts falling due after more than one year
			2024
			£

		Bank loans and overdrafts	6,107,169






			6,107,169

		Liabilities repayable in more than five years after the balance sheet date
		Amount repayable by instalments	6,100,002

			6,100,002

		Mortgage liabilities are secured by fixed charges over the company freehold property.

Share Capital

160 Ordinary Shares of £0.001 each fully paid

Reserves

Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss account - includes all current and prior period retained profits and losses.