REGISTERED NUMBER: 00906511 (England and Wales)

Olicana Properties Limited

Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J R Quarmby

Mrs J M Quarmby

Mr O A Quarmby

Mrs L G I Davies

Mrs H M Eames

SECRETARY:

Mr J A Batty

REGISTERED OFFICE:

Holt Farm Farmhouse

Harewood Road

Arthington

Otley

West Yorkshire

LS21 1PN

REGISTERED NUMBER:

00906511 (England and Wales)

AUDITORS:

SMH Jolliffe Cork Audit Ltd

Accountants & Statutory Auditors

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

93

11,565

Investment property

5

9,585,000

9,585,000

9,585,093

9,596,565

CURRENT ASSETS

Debtors

6

514,323

594,082

Cash at bank

166,776

202,745

681,099

796,827

CREDITORS

Amounts falling due within one year

7

440,166

902,843

NET CURRENT ASSETS/(LIABILITIES)

240,933

(106,016

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,826,026

9,490,549

CREDITORS

Amounts falling due after more than one year

8

(263,210

)

-

PROVISIONS FOR LIABILITIES

(550,855

)

(550,855

)

NET ASSETS

9,011,961

8,939,694

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

9,011,861

8,939,594

SHAREHOLDERS' FUNDS

9,011,961

8,939,694

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 31 October 2025 and were signed on its behalf by:

Mr J R Quarmby - Director

1.	STATUTORY INFORMATION

Olicana Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2.	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 represents the amount receivable, in the ordinary course of business, from rental income received in accordance with the leases, excluding value added tax.

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 cost

Equipment

-

15% on cost

Fixed assets are initially recorded at 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.

Fair value has been determined based on similar properties in the local area.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

The company has no 'Other financial assets'.

Financial assets are derecognised when (a) the contractual rights to the cashflow from the asset expire or are settled or (b) substantially all the risks and rewards of ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other creditors and hire purchase contracts, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

The company has no 'Other financial liabilities'.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

Pension costs

The company makes contributions in to the private pension plans in respect of its employees , contributions payable are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

Equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

45,750

30,561

76,311

DEPRECIATION

At 1 April 2024

34,313

30,433

64,746

Charge for year

11,437

35

11,472

At 31 March 2025

45,750

30,468

76,218

NET BOOK VALUE

At 31 March 2025

-

93

93

At 31 March 2024

11,437

128

11,565

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

9,585,000

NET BOOK VALUE

At 31 March 2025

9,585,000

At 31 March 2024

9,585,000

The investment properties have been valued by Feather Smailes Scales, Chartered Surveyors and Valuers, on 25 September 2024 with the exception of Arthington Estate, which was valued by Strutt & Parker, Chartered Surveyors and Valuers, on 24 March 2022. Following the valuation of the Estate by Strutt & Parker on 24th March 2022, the Directors believe that there has not been a material change in value since that date. All investment properties have been valued at their fair value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

74,826

95,460

Amounts owed by group undertakings

396,143

458,573

Prepayments and accrued income

43,354

40,049

514,323

594,082

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

73,660

415,847

Trade creditors

51,889

45,272

Tax

27,527

38,458

Social security and other taxes

6,404

4,403

VAT

15,053

15,457

Directors' current accounts

150,209

270,287

Accruals and deferred income

115,424

113,119

440,166

902,843

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

263,210

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

336,870

415,847

The borrowings of the company are secured by way of a first legal charge over some of the freehold investment land and buildings of the company, excluding Arthington Estate, together with a further fixed charge associated with any assets contained within each property.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Included within retained earnings at 31 March 2025 is an amount of £4,983,314 (2024: £4,983,314) which is non-distributable. This relates to the accumulated fair value adjustments, less the associated deferred tax, on the investment property held by the company.

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Claire Lawton FCA DChA (Senior Statutory Auditor)

for and on behalf of SMH Jolliffe Cork Audit Ltd

13.	RELATED PARTY DISCLOSURES