1.
General Information
OPP Properties Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
10803482
. The registered office is 21 Fullerton Road, London, SW18 1BU.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
In considering the appropriateness of adopting the going concern basis in preparing the financial statements, the director has given due consideration to the future financial operating requirements of the company.
The director expects the company to remain in operational existence for the foreseeable future and is satisfied that the necessary financial support will be available for the twelve months from the date of approval of the financial statements.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.4.
Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
| Computer Equipment |
|
2.5.
Investment Properties
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.
No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6.
Financial Instruments
2.6.
Financial Instruments - continued
The company recognises financial assets and liabilities when it becomes a party to the contractual provisions of the instrument.
Financial Assets
- Cash and Cash Equivalents: Measured at amortised cost, which is equivalent to nominal value.
- Investments:
- Quoted investments are initially recognised at cost and subsequently measured at fair
value at each reporting date.
- Fair value is determined using quoted market prices.
- Changes in fair value are recognised in profit or loss.
...CONTINUED
OPP Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2025
- Unquoted investments are measured at cost less impairment if fair value cannot be reliably
determined.
- Financial Liabilities
Trade and other payables are measured at amortised cost.
2.7.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
OPP Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2025
3.
Average Number of Employees
Average number of employees, during the year was: NIL (2024: NIL)
4.
Tangible Assets
| Computer Equipment | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 March 2024 |
|
| As at 28 February 2025 |
|
| Depreciation | |
| As at 1 March 2024 |
|
| As at 28 February 2025 |
|
| Net Book Value | |
| As at 28 February 2025 |
|
| As at 1 March 2024 |
|
5.
Investment Property
| 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 March 2024 |
|
| Fair value adjustments |
|
| As at 28 February 2025 |
|
Fair value at 28 February 2025 is represented by:
|
Valuation for 2019
|
(57,000)
|
|
Valuation for 2020
|
(48,000)
|
|
Valuation for 2022
|
126,888
|
|
Valuation for 2023
|
(87,544)
|
|
Valuation for 2025
|
55,000
|
|
Cost
|
2,210,656
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
|
2,200,000
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
OPP Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2025
6.
Investments
| Listed | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 March 2024 |
|
| Additions |
|
| Fair value adjustments |
|
| As at 28 February 2025 |
|
| Provision | |
| As at 1 March 2024 |
|
| As at 28 February 2025 |
|
| Net Book Value | |
| As at 28 February 2025 |
|
| As at 1 March 2024 |
|
Fair value at 28 February 2025 is represented by:
|
Valuation in 2025
|
1,004
|
|
Cost
|
57,900
|
|
58,904
|
7.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Other debtors | 47,221 | 1,642 | |
|
|
|
||
| Due after more than one year | |||
| Other debtors | 2,413 | 16,414 | |
|
|
|
||
OPP Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2025
8.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other creditors | 2,160,191 | 1,935,105 | |
| Taxation and social security |
|
|
|
|
|
|
||
9.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
10.
Secured Creditors
Of the creditors the following amounts are secured.
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | - | 297,840 |
12.
Reserves
| Fair Value Reserve | |
|---|---|
| £ | |
| As at 1 March 2024 |
( |
| Transfer to profit and loss |
|
| As at 28 February 2025 |
( |