Caseware UK (AP4) 2024.0.164 2024.0.164 578844057884402023-07-01falseNo description of principal activity33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NI636919 2023-07-01 2024-06-30 NI636919 2022-07-01 2023-06-30 NI636919 2024-06-30 NI636919 2023-06-30 NI636919 c:Director1 2023-07-01 2024-06-30 NI636919 d:Buildings 2023-07-01 2024-06-30 NI636919 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 NI636919 d:MotorVehicles 2023-07-01 2024-06-30 NI636919 d:FreeholdInvestmentProperty 2024-06-30 NI636919 d:FreeholdInvestmentProperty 2023-06-30 NI636919 d:LeaseholdInvestmentProperty 2024-06-30 NI636919 d:LeaseholdInvestmentProperty 2023-06-30 NI636919 d:CurrentFinancialInstruments 2024-06-30 NI636919 d:CurrentFinancialInstruments 2023-06-30 NI636919 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 NI636919 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 NI636919 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 NI636919 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 NI636919 d:ShareCapital 2024-06-30 NI636919 d:ShareCapital 2023-06-30 NI636919 d:SharePremium 2024-06-30 NI636919 d:SharePremium 2023-06-30 NI636919 d:RetainedEarningsAccumulatedLosses 2024-06-30 NI636919 d:RetainedEarningsAccumulatedLosses 2023-06-30 NI636919 c:OrdinaryShareClass1 2023-07-01 2024-06-30 NI636919 c:OrdinaryShareClass1 2024-06-30 NI636919 c:OrdinaryShareClass1 2023-06-30 NI636919 c:FRS102 2023-07-01 2024-06-30 NI636919 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 NI636919 c:FullAccounts 2023-07-01 2024-06-30 NI636919 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI636919 d:OtherDeferredTax 2024-06-30 NI636919 d:OtherDeferredTax 2023-06-30 NI636919 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: NI636919










Oldstone Properties Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2024

 
Oldstone Properties Ltd
Registered number:NI636919

Balance Sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
2,160
-

Investment property
 5 
2,894,220
2,894,220

  
2,896,380
2,894,220

Current assets
  

Debtors: amounts falling due within one year
 6 
93,837
110,216

  
93,837
110,216

Creditors: amounts falling due within one year
 7 
(303,596)
(290,718)

Net current liabilities
  
 
 
(209,759)
 
 
(180,502)

Total assets less current liabilities
  
2,686,621
2,713,718

Creditors: amounts falling due after more than one year
  
(1,202,053)
(1,275,883)

Provisions for liabilities
  

Deferred tax
  
(513)
-

  
 
 
(513)
 
 
-

Net assets
  
1,484,055
1,437,835


Capital and reserves
  

Called up share capital 
 9 
4
4

Share premium account
  
1,316,383
1,316,383

Profit and loss account
  
167,668
121,448

  
1,484,055
1,437,835


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Page 1

 
Oldstone Properties Ltd
Registered number:NI636919

Balance Sheet (continued)
As at 30 June 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 April 2025.

 

Abram King
Director

The notes on pages 3 to 8 form part of these financial statements.

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Page 2

 
Oldstone Properties Ltd
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

1.


General information

Oldstone Properties Ltd is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors of Oldstone Properties Ltd have reviewed the resources available and believe that the company has adequate resources to continue in operational existence for the foreseeable future. 
Accordingly, Oldstone Properties Ltd continues to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue 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 contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

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Page 3

 
Oldstone Properties Ltd
 

Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
4%
Straight Line Method
Long-term leasehold property
-
4%
Straight Line Method
Motor vehicles
-
20%
Straight Line Method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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Page 4

 
Oldstone Properties Ltd
 

Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No significant judgments have been made in the process of applying the above accounting policies. There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 


4.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

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Page 5

 
Oldstone Properties Ltd
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

5.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 July 2023
1,572,952
1,321,268
2,894,220



At 30 June 2024
1,572,952
1,321,268
2,894,220

The 2024 valuations were made by the directors, on an open market value for existing use basis.

The Directors have considered the valuation as at 30 June 2024 and are satisfied that the value in the accounts equates to the fair value of the assets. As a result no fair value adjustment is recognised in the profit or loss.




6.


Debtors

2024
2023
£
£


Trade debtors
4,800
650

Other debtors
89,037
109,566

93,837
110,216



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
25,883
7,595

Bank loans
158,288
158,288

Corporation tax
29,098
29,478

Other taxation and social security
10,555
19,659

Other creditors
32,735
49,121

Accruals and deferred income
47,037
26,577

303,596
290,718


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Page 6

 
Oldstone Properties Ltd
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

8.


Deferred taxation




2024


£






Charged to profit or loss
(513)



At end of year
(513)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Movement in the year
(513)
-

(513)
-


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



4 (2023 - 4) Ordinary shares shares of £1.00 each
4
4



10.


Related party transactions

At the year end the following amounts were due from the following related parties:
 


2024
2023
£
£

E&Z Properties
23,780
28,980
Ballyclare Car Hire Ltd
23,570
24,251
Ballyclare Motor Auction
41,685
56,335
Zara Glover
(27,631)
(27,631)
Abram and Elizabeth King
(1,853)
(18,945)
59,551
62,990

Amounts owed from the deemed related parties is presented within debtors and creditors: amounts falling due within one year respectively.

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Page 7

 
Oldstone Properties Ltd
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

11.


Controlling party

The company is controlled by the board of directors.


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Page 8