REGISTERED NUMBER: |
Orgen Properties Limited |
Abridged Unaudited Financial Statements |
for the period |
1 April 2023 to 30 September 2024 |
REGISTERED NUMBER: |
Orgen Properties Limited |
Abridged Unaudited Financial Statements |
for the period |
1 April 2023 to 30 September 2024 |
Orgen Properties Limited (Registered number: 12509967) |
Contents of the Financial Statements |
for the period 1 April 2023 to 30 September 2024 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Statement of Financial Position | 3 |
Notes to the Financial Statements | 5 |
Orgen Properties Limited |
Company Information |
for the period 1 April 2023 to 30 September 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
239-241 Kennington Lane |
London |
SE11 5QU |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Orgen Properties Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Orgen Properties Limited for the period ended 30 September 2024 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Orgen Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Orgen Properties Limited and state those matters that we have agreed to state to the director of Orgen Properties Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Orgen Properties Limited and its director for our work or for this report. |
It is your duty to ensure that Orgen Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Orgen Properties Limited. You consider that Orgen Properties Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Orgen Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
239-241 Kennington Lane |
London |
SE11 5QU |
Orgen Properties Limited (Registered number: 12509967) |
Statement of Financial Position |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Orgen Properties Limited (Registered number: 12509967) |
Statement of Financial Position - continued |
30 September 2024 |
The financial statements were approved by the director and authorised for issue on |
Orgen Properties Limited (Registered number: 12509967) |
Notes to the Financial Statements |
for the period 1 April 2023 to 30 September 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover includes revenue earned from investments in properties. The revenue is recognised on an accrual basis in accordance with the tenancy agreement. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
No depreciation is charged on investment property and on the improvement cost under FRS102 standard. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
3. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 March 2023 |
As required by FRS 102, company director undertook to remeasure the investment properties to fair value at each reporting date. The methods used include online tools and free market valuation from local agents. After the assessment, director concluded that there were no significant movements and that market prices were equal to net book values at the reporting date. |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Orgen Properties Limited (Registered number: 12509967) |
Notes to the Financial Statements - continued |
for the period 1 April 2023 to 30 September 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Mortgage loan | 601,457 | 601,453 |
Repayable by instalments |
Bank loans more 5 yr by instal | 299,127 | 327,693 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loan | 367,933 | 381,694 |
Mortgage loan | 601,457 | 601,453 |
All loans are secured by the company assets. |
Orgen Properties Limited (Registered number: 12509967) |
Notes to the Financial Statements - continued |
for the period 1 April 2023 to 30 September 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2023 |
Profit for the period |
Dividends | ( |
) |
At 30 September 2024 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 30 September 2024 and the year ended 31 March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of period | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) |
11. | RELATED PARTY DISCLOSURES |
Transactions with member of key management personnel: |
The amount owed to related party on the balance sheet date is £155 (2023:The amount owed to company £47,116). An interest-free loan is payable on demand and presented within the creditors' note. |
Transactions with entities under common and joint control: |
The amount owed to related party on the balance sheet date is £300,000 (2023:£300,000). An interest -free loan is payable on demand and presented within the creditors' note. |