OCTAGON PROPERTIES LIMITED - Filleted accounts

Registered number

01789845

OCTAGON PROPERTIES LIMITED

Unaudited Filleted Accounts

31 March 2025

OCTAGON PROPERTIES LIMITED
Registered number:		01789845
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		3,220,023			3,231,130
			3,220,023			3,231,130

Current assets
Debtors	4	67,250			22,999
Investments held as current assets	5	627,697			400,000
Cash at bank and in hand		556,031			592,211
		1,250,978			1,015,210

Creditors: amounts falling due within one year	6	(346,581)			(312,706)

Net current assets			904,397			702,504

Total assets less current liabilities			4,124,420			3,933,634

Provisions for liabilities			(184,025)			(184,025)

Net assets			3,940,395			3,749,609

Capital and reserves
Called up share capital			200			200
Revaluation reserve	7		1,206,971			1,206,971
Profit and loss account			2,733,224			2,542,438

Shareholders' funds			3,940,395			3,749,609

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Y T Watfa
Director
Approved by the board on 1 December 2025

OCTAGON PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover represents rental and service charges received, excluding VAT.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Land			over 50 years
	Leasehold land and buildings			over the lease term
	Motor Vehicles			over 4 years

	Investment Properties
	Investment Properties for which fair value can be measured reliably without undue cost or effort
	are measured at fair value at each reporting date with changes in fair value recognised in profit
	or loss.
	The method and significant assumptions used to ascertain the fair value at the Balance Sheet
	date and fair value movement included in the profit for the year are as follows:
	Properties are valued using open market valuation and are conducted by Professional Property
	Valuers.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Current Asset Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments and Unlisted investments are measured at fair value unless the value cannot be measured reliably or the gain is insignificant, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.



	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					3		3


3	Tangible fixed assets
		Investment Properties		Leasehold Premises		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	3,198,430		25,044		39,421		3,262,895
	Additions	-		-		-		-
	Surplus on revaluation	-		-		-		-
	Disposals	-		-		-		-
	At 31 March 2025	3,198,430		25,044		39,421		3,262,895

	Depreciation
	At 1 April 2024	-		21,910		9,855		31,765
	Charge for the year	-		1,252		9,855		11,107
	Surplus on revaluation	-		-		-		-
	On disposals	-		-		-		-
	At 31 March 2025	-		23,162		19,710		42,872

	Net book value
	At 31 March 2025	3,198,430		1,882		19,711		3,220,023
	At 31 March 2024	3,198,430		3,134		29,566		3,231,130


	Freehold land and buildings:					2025		2024
£							£
	Historical cost					1,886,821		1,886,821
						1,886,821		1,886,821
	Investment Properties were valued in 2018 using open market valuation and conducted by
	Professional Property Valuers.


4	Debtors					2025		2024
£							£

	Trade debtors					57,018		8,096
	Other debtors					10,232		14,903
						67,250		22,999

	Amounts due after more than one year included above					-		-


5	Investments held as current assets					2025		2024
£							£
	Fair value
	UK Fixed Income Securities					208,054		200,000
	UK Short Dated Gilts					419,643		200,000
						627,697		400,000

	The Historic Book Cost of the Investments was £606,554 (2024 - £400,000)

6	Creditors: amounts falling due within one year					2025		2024
£							£

	Directors' Loan					55,895		33,359
	Accruals and deferred income					89,076		72,113
	Trade creditors					2,021		3,790
	Taxation and social security costs					67,754		54,153
	Other creditors					131,835		149,291
						346,581		312,706

7	Revaluation reserve					2025		2024
£							£

	At 1 April 2024					1,206,971		936,615
	Gain on revaluation of land and buildings					-		270,356

	At 31 March 2025					1,206,971		1,206,971

8	Profit and Loss Account					2025		2024
£							£
	At 1 April 2024					2,542,438		2,373,417
	Profit for the Year					190,786		439,377
	Transfer to Revaluation Reserve - Gain on revaluation of
	Land & Building					-		(270,356)
	At 31 March 2025					2,733,224		2,542,438

9	Capital commitments

	There were no capital commitments 31 March 2025. (31.3.2024 - Nil)

10	Related party transactions

	On 29 August 2019, Y T Watfa, transferred his Freehold interest in 11 Elvaston Place, London SW7 5QG to Jett Partners LLP, a Limited Liabilty Partnership incorporated in England. Jett Partners LLP is 100% controlled by Y T Wafa and his immediate family. Rental income paid by the company in the period under review to Jett Partners LLP was £80,000 (2024 - £80,000).

11	Controlling party

	The company is controlled by the Director Mr Y T Watfa who together with his immediate family, has 99.5% interest in its share capital.

12	Other information

	OCTAGON PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Flat 1
	249 Goldhurst Terrace
	London
	NW6 3EP