Opendoor Properties Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 03229640

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,260,018		1,260,022
Investments	5		387,339		387,339

			1,647,357		1,647,361
CURRENT ASSETS
Debtors	6	1,352,164		172,711
Cash at bank and in hand		16,922		4,896

		1,369,086		177,607
Creditors: Amounts Falling Due Within One Year	7	(1,507,125 )		(382,077 )

NET CURRENT ASSETS (LIABILITIES)			(138,039 )		(204,470 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,509,318		1,442,891

Creditors: Amounts Falling Due After More Than One Year	8		(78,330 )		(81,684 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(189,530 )		(189,530 )

NET ASSETS			1,241,458		1,171,677

CAPITAL AND RESERVES
Called up share capital	9		2		2
Share premium account			50,000		50,000
Revaluation reserve	10		798,952		798,952
Profit and Loss Account			392,504		322,723

SHAREHOLDERS' FUNDS			1,241,458		1,171,677

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Opendoor Properties Limited

Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 2025 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 Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr P H Stannard

Director

11/08/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Opendoor Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03229640 . The registered office is Cumberland House, 24-28 Baxter Avenue, Southend on Sea, Essex, SS2 6HZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Carried at fair value
Plant & Machinery	25% reducing balance

2.4. 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 statement of comprehensive income 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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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.

...CONTINUED

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Opendoor Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.4. Taxation - continued

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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

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

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 February 2024	1,260,000	7,031	1,267,031

As at 31 January 2025	1,260,000	7,031	1,267,031

Depreciation
As at 1 February 2024	-	7,009	7,009
Provided during the period	-	4	4

As at 31 January 2025	-	7,013	7,013

Net Book Value
As at 31 January 2025	1,260,000	18	1,260,018

As at 1 February 2024	1,260,000	22	1,260,022

Included within land and buildings are investment properties carried at fair value of £1,260,000. The Directors do not consider there was any movment in value during this year.

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Opendoor Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 February 2024	387,339

As at 31 January 2025	387,339

Provision
As at 1 February 2024	-

As at 31 January 2025	-

Net Book Value
As at 31 January 2025	387,339

As at 1 February 2024	387,339

6. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	1,196	3,501
Amounts owed by associates companies	643,012	-
Amounts owed by subsidiaries.	707,956	169,210

	1,352,164	172,711

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Bank loans and overdrafts	3,264	3,264
Corporation tax	3,187	2,243
Accruals and deferred income	4,199	3,800
Directors' loan accounts	588,995	106,802
Amounts owed to subsidaries	907,480	265,968

	1,507,125	382,077

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	78,330	81,684

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Opendoor Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

10. Reserves

	Revaluation Reserve
	£
As at 1 February 2024	798,952

As at 31 January 2025	798,952

11. Related Party Transactions

As at the year end, the company was owed £707,956 (2024: £169,210) from Tower Hotel (Southend) Limited, a company of which Opendoor Properties Limited owns 100% of the share capital. All transactions were undertaken at arms length,.

As at the year end, the company owed £970,480 (2024: £265,968) to Limerose Properties Limited, a company if which Opendoor Properties Limited owns 100% of the share capital. All transactions were undertaken at arms length.

As at the year end, Opendoor Properties Limited was owed £643,012 (2024: £0) by Paul Henry Investments Limited.

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