Ox Street Limited 31/01/2025 iXBRL

Company registration number: NI692717

Ox Street Limited

Unaudited filleted financial statements

31 January 2025

Ox Street Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Ox Street Limited

Directors and other information


	Directors	Mr Ian Annesley
		Mrs Avril Annesley
		Mr Stuart Annesley
		Mrs Amy Annesley Pearse
		Mrs Victoria Annesley Turner


	Company number	NI692717


	Registered office	c/o Hill Vellacott
		22 Great Victoria Street
		Belfast
		BT2 7BA


	Accountants	Hill Vellacott
		22 Great Victoria Street
		Belfast
		BT2 7BA




	Bankers	Danske Bank
		Donegall Square West
		Belfast
		BT1 6JS

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Ox Street Limited

Year ended 31 January 2025

In accordance with the engagement letter dated 9 May 2025, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 January 2025 which comprise the statement of financial position and related notes from the company's accounting records and information and explanations you have given us.

As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements detailed at www.charteredaccountants.ie/Professional-Standards/Home.

This report is made solely to the Company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Board of Directors, as a body, for our work, or for this report.

We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland.

You have acknowledged on the balance sheet for the year ended 31 January 2025 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.

Hill Vellacott 10 June 2025

22 Great Victoria Street

Belfast

BT2 7BA

Ox Street Limited

Statement of financial position

31 January 2025

		31/01/25		31/01/24
	Note	£	£	£	£

Fixed assets
Tangible assets	4	10,421,931		10,421,931
		_______		_______
			10,421,931		10,421,931

Current assets
Debtors	5	515,378		53,780
Cash at bank and in hand		129,727		309,415
		_______		_______
		645,105		363,195
Creditors: amounts falling due
within one year	6	( 125,516)		( 111,823)
		_______		_______
Net current assets			519,589		251,372
			_______		_______
Total assets less current liabilities			10,941,520		10,673,303

			_______		_______
Net assets			10,941,520		10,673,303
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			10,941,518		10,673,301
			_______		_______
Shareholders funds			10,941,520		10,673,303
			_______		_______

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.

Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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 statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 10 June 2025 , and are signed on behalf of the board by:

Mr Ian Annesley

Director

Company registration number: NI692717

Ox Street Limited

Notes to the financial statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is c/o Hill Vellacott, 22 Great Victoria Street, Belfast, BT2 7BA.The principal activity of the compamny is that of Investment Property .

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:Market value of Investment PropertyEstimates are made in respect of the market value of investment property. When assessing the market value of these assets, factors including current rent receivable and available data on current yields and activity are considered.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Investment property	Total
	£	£
Cost
At 1 February 2024 and 31 January 2025	10,421,931	10,421,931
	_______	_______
Depreciation
At 1 February 2024 and 31 January 2025	-	-
	_______	_______
Carrying amount
At 31 January 2025	10,421,931	10,421,931
	_______	_______
At 31 January 2024	10,421,931	10,421,931
	_______	_______

Investment property

The 2025 valuations were made by the Director's, on an open market value for exisiting use basis.

5. Debtors

	31/01/25	31/01/24
	£	£
Amounts owed by group undertakings	52,415	52,215
Other debtors	462,963	1,565
	_______	_______
	515,378	53,780
	_______	_______

6. Creditors: amounts falling due within one year

	31/01/25	31/01/24
	£	£
Corporation tax	75,376	61,841
Other creditors	50,140	49,982
	_______	_______
	125,516	111,823
	_______	_______

7. Related party transactions

Ox Street Holdings Limited owns 100% of the shares in Ox Street Limited . At the balance sheet date the amount owed from Ox Street Holdings Limited was £52,215 (2024: £52,115). The loan is unsecured, interest free and repayable upon demand.The company is connected to The Door Store Limited by virtue of common control. In the period the company paid funds of £461,398. At the balance sheet date the amount owed from The Door Store Limited was £462,280 (2024: £882). The loan is unsecured, interest free and repayable upon demand.

8. Controlling party

The immediate controlling party of Ox Street Limited is Ox Street Holdings Limited due to the shareholding in the company. The ultimate controlling party of Ox Street Limited are the trustees of The Annesley Family Trust 2023.

9. Share Capital

Includes all called up issued share capital.