Owl Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04674420

OWL PROPERTIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

OWL PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Investments	5		390,000		513,000

CURRENT ASSETS

Cash at bank and in hand	45,997		14,053

CREDITORS: amounts falling due within one year	6	10,448		104,340
		--------		---------
NET CURRENT ASSETS/(LIABILITIES)			35,549		( 90,287)
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			425,549		422,713

PROVISIONS

Taxation including deferred tax	36,282	45,059
	---------	---------
NET ASSETS	389,267	377,654
	---------	---------

CAPITAL AND RESERVES

Called up share capital	7	4	4
Fair value reserve		187,318	241,341
Profit and loss account		201,945	136,309
		---------	---------
SHAREHOLDERS FUNDS		389,267	377,654
		---------	---------

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.

For the year ending 31 March 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 .

OWL PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 4 December 2025 , and are signed on behalf of the board by:

P C H Howell	N S Howell
Director	Director

Company registration number: 04674420

OWL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 36 Chapel Lane, Codsall, Wolverhampton, WV8 2EJ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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. The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Revenue recognition

Turnover shown in the profit and loss account represents rents received in the year.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Fixtures and fittings	-	20% straight line
Capital additions	-	10% straight line

Investments

Investment properties are included at fair value with gains and losses charged through the profit and loss account. Fair value is based upon open market value as determined by the directors.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. TANGIBLE ASSETS

	Fixtures and fittings	Capital additions	Total
	£	£	£
Cost
At 1 April 2024	4,364	10,963	15,327
Disposals	( 819)	( 3,200)	( 4,019)
	-------	--------	--------
At 31 March 2025	3,545	7,763	11,308
	-------	--------	--------
Depreciation
At 1 April 2024	4,364	10,963	15,327
Disposals	( 819)	( 3,200)	( 4,019)
	-------	--------	--------
At 31 March 2025	3,545	7,763	11,308
	-------	--------	--------
Carrying amount
At 31 March 2025	–	–	–
	-------	--------	--------
At 31 March 2024	–	–	–
	-------	--------	--------

5. INVESTMENTS

	Investment properties
	£
Cost or valuation
At 1 April 2024	513,000
Disposals	( 123,000)
	---------
At 31 March 2025	390,000
	---------
Impairment
At 1 April 2024 and 31 March 2025	–
	---------

Carrying amount
At 31 March 2025	390,000
	---------
At 31 March 2024	513,000
	---------

Investment properties were revalued during the year ended 31 March 2024 based upon the directors estimate of open market values.

6. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	8,901	2,345
Other creditors	1,547	101,995
	--------	---------
	10,448	104,340
	--------	---------

7. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	4	4	4	4
	----	----	----	----