REGISTERED NUMBER: 10181194 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2025

for

O'Donnell Property (NE) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M O'Donnell

M O'Donnell

S O'Donnell

R O'Donnell

REGISTERED OFFICE:

Eshton Suite 2

Wynyard Business Park

Wynyard Avenue

Billingham

TS22 5TB

REGISTERED NUMBER:

10181194 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Wynyard Business Park

Wynyard Avenue

Billingham

Cleveland

TS22 5TB

Fixed assets

Tangible assets

3

45,527

388

Investment property

4

805,000

870,000

850,527

870,388

Current assets

Debtors

5

4,055

-

Cash at bank

5,444

112,780

9,499

112,780

Creditors

Amounts falling due within one year

6

(329,648

)

(491,013

)

Net current liabilities

(320,149

)

(378,233

)

Total assets less current liabilities

530,378

492,155

Provisions for liabilities

(73,690

)

(74,351

)

Net assets

456,688

417,804

Capital and reserves

Called up share capital

100

100

Other reserves

7

323,392

315,171

Retained earnings

7

133,196

102,533

456,688

417,804

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

M O'Donnell - Director

1.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

GOING CONCERN NOTE

The financial statements have been prepared on a going concern basis, the director believes this assumption to be appropriate based on the continuing financial support of the company`s directors.

If the going concern basis was not appropriate, adjustments would have to be made to restate the value of the assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2024

-

399

399

Additions

53,000

-

53,000

At 31 May 2025

53,000

399

53,399

DEPRECIATION

At 1 June 2024

-

11

11

Charge for year

7,729

132

7,861

At 31 May 2025

7,729

143

7,872

NET BOOK VALUE

At 31 May 2025

45,271

256

45,527

At 31 May 2024

-

388

388

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

870,000

Disposals

(90,000

)

Revaluations

25,000

At 31 May 2025

805,000

NET BOOK VALUE

At 31 May 2025

805,000

At 31 May 2024

870,000

Fair value at 31 May 2025 is represented by:

£

Valuation in 2019

(31,797

)

Valuation in 2020

30,000

Valuation in 2021

131,451

Valuation in 2022

246,000

Valuation in 2023

11,000

Valuation in 2024

2,868

Valuation in 2025

25,000

Cost

390,478

805,000

The above properties valuation is based upon estimates provided by the director. These are based upon the market value of nearby properties and with regard to the condition of the property and area. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

4,055

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Corporation tax

-

4,568

Directors' current accounts

324,484

481,365

Accrued expenses

5,164

5,080

329,648

491,013

7.

RESERVES

PROFIT AND LOSS RESERVES

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES

The Company uses the revaluation model for the measurement of its investment properties. The reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.