1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,396,346 1,190,112 4,586,458 2,343 2,343 4,584,115 3,396,346 xbrli:pure xbrli:shares iso4217:GBP 09652779 2023-10-01 2024-09-30 09652779 2024-09-30 09652779 2023-09-30 09652779 2022-10-01 2023-09-30 09652779 2023-09-30 09652779 2022-09-30 09652779 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 09652779 bus:Director1 2023-10-01 2024-09-30 09652779 core:LandBuildings 2024-09-30 09652779 core:LandBuildings 2023-10-01 2024-09-30 09652779 core:WithinOneYear 2024-09-30 09652779 core:WithinOneYear 2023-09-30 09652779 core:AfterOneYear 2023-09-30 09652779 core:ShareCapital 2024-09-30 09652779 core:ShareCapital 2023-09-30 09652779 core:RetainedEarningsAccumulatedLosses 2024-09-30 09652779 core:RetainedEarningsAccumulatedLosses 2023-09-30 09652779 core:LandBuildings 2023-09-30 09652779 core:LandBuildings 2023-09-30 09652779 bus:SmallEntities 2023-10-01 2024-09-30 09652779 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 09652779 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 09652779 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09652779 bus:FullAccounts 2023-10-01 2024-09-30 09652779 bus:OrdinaryShareClass1 2024-09-30 09652779 bus:OrdinaryShareClass1 2023-09-30 09652779 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 09652779
Olave Properties Limited
Unaudited financial statements
30 September 2024
Olave Properties Limited
Statement of financial position
30 September 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
4,584,115
3,396,346
Current assets
Debtors
6
44,640
15,907
Cash at bank and in hand
536,226
2,399,797
---------
-----------
580,866
2,415,704
Creditors: Amounts falling due within one year
7
( 91,730)
( 2,453,221)
---------
-----------
Net current assets/(liabilities)
489,136
( 37,517)
-----------
-----------
Total assets less current liabilities
5,073,251
3,358,829
Creditors: Amounts falling due after more than one year
8
( 464,462)
Provisions
Taxation including deferred tax
( 3,504)
Accruals and deferred income
( 62,450)
( 3,100)
-----------
-----------
Net assets
5,007,297
2,891,267
-----------
-----------
Capital and reserves
Called up share capital
9
10
10
Profit and loss account
5,007,287
2,891,257
-----------
-----------
Shareholders funds
5,007,297
2,891,267
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Olave Properties Limited
Statement of financial position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 22 January 2025 , and are signed on behalf of the board by:
A W Doidge
Director
Company registration number: 09652779
Olave Properties Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sixty Six, North Quay, Great Yarmouth, Norfolk, NR30 1HE, United Kingdom. The company's principal place of business is Morton Peto Road, Harfreys Industrial Estate, Great Yarmouth, Norfolk, NR31 0LT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expense recognised will be recovered.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
0% straight line & 10% reducing balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
4. Employee numbers
The average number of employees during the year was 1 (2023: 1 ).
5. Tangible assets
Investment properties
£
Cost
At 1 October 2023
3,396,346
Additions
1,190,112
-----------
At 30 September 2024
4,586,458
-----------
Depreciation
At 1 October 2023
Charge for the year
2,343
-----------
At 30 September 2024
2,343
-----------
Carrying amount
At 30 September 2024
4,584,115
-----------
At 30 September 2023
3,396,346
-----------
6. Debtors
2024
2023
£
£
Trade debtors
33,039
Other debtors
11,601
15,907
-------
-------
44,640
15,907
-------
-------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans
58,737
Trade creditors
390
1,290
Social security and other taxes
91,340
53,194
Other creditors
2,340,000
-------
-----------
91,730
2,453,221
-------
-----------
The bank loans are secured on the investment properties
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans
464,462
----
---------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
10
10
10
10
----
----
----
----
10. Related party transactions
At the year end the amount owed by Doidge Limited to the company was £3,184 (2023: -£2,340,000)