COMPANY REGISTRATION NUMBER:
8754600
|
OCEANDALE PROPERTIES LIMITED |
|
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
|
OCEANDALE PROPERTIES LIMITED |
|
PERIOD ENDED 29 SEPTEMBER 2024
|
Officers and Professional Advisers |
1 |
|
|
|
Notes to the Financial Statements |
4 |
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|
OCEANDALE PROPERTIES LIMITED |
|
29 September 2024
FIXED ASSETS
|
Investments |
5 |
|
1,270,277 |
|
1,270,277 |
|
|
|
|
|
|
CURRENT ASSETS
|
Debtors |
6 |
2,328,366 |
|
2,198,339 |
|
|
Cash at bank and in hand |
25,429 |
|
33,632 |
|
|
------------- |
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------------- |
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|
2,353,795 |
|
2,231,971 |
|
|
|
|
|
|
|
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CREDITORS: amounts falling due within one year |
7 |
(
1,125,781) |
|
(
1,439,487) |
|
|
------------- |
|
------------- |
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NET CURRENT ASSETS |
|
1,228,014 |
|
792,484 |
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|
------------- |
|
------------- |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
|
2,498,291 |
|
2,062,761 |
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|
------------- |
|
------------- |
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NET ASSETS |
|
2,498,291 |
|
2,062,761 |
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|
------------- |
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------------- |
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|
|
|
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CAPITAL AND RESERVES
|
Called up share capital |
|
1,000 |
|
1,000 |
|
Share premium account |
|
1,262,752 |
|
1,262,752 |
|
Profit and loss account |
|
1,234,539 |
|
799,009 |
|
|
------------- |
|
------------- |
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SHAREHOLDER FUNDS |
|
2,498,291 |
|
2,062,761 |
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|
------------- |
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------------- |
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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 profit and loss account has not been delivered.
For the period ending 29 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
OCEANDALE PROPERTIES LIMITED |
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BALANCE SHEET (continued) |
|
29 September 2024
These financial statements were approved by the
board of directors
and authorised for issue on
24 April 2026
, and are signed on behalf of the board by:
Company registration number:
8754600
|
OCEANDALE PROPERTIES LIMITED |
|
|
NOTES TO THE FINANCIAL STATEMENTS |
|
PERIOD ENDED 29 SEPTEMBER 2024
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.
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 (rounded to the nearest pound), which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The directors do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the period.
Taxation
Tax on the profit or loss for the period comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income. Current tax is expected tax payable or receivable on the taxable income or loss for the period, using rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. 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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
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 are 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.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the period, including the directors, amounted to nil (2023: nil).
5.
INVESTMENTS
|
Shares in participating interests |
|
£ |
|
Cost |
|
|
At 1 October 2023 and 29 September 2024 |
1,270,277 |
|
------------- |
|
Impairment |
|
|
At 1 October 2023 and 29 September 2024 |
– |
|
------------- |
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|
|
Carrying amount |
|
|
At 29 September 2024 |
1,270,277 |
|
------------- |
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At 30 September 2023 |
1,270,277 |
|
------------- |
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|
The company beneficially holds 50% of the issued share capital of Crownage Limited, Landfield Limited and Oceanstorm Homes Limited, 20.25% of the issued share capital of Radford Way Homes Limited, 15% of the issued share capital of Heathrock Homes Limited and 8.33% of the issued share capital of Data Science House Limited, all of which are incorporated in Great Britain and registered in England.
6.
DEBTORS
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
7,500 |
7,500 |
|
Amounts owed by undertakings in which the company has a participating interest |
1,780,195 |
1,650,168 |
|
Other debtors |
540,671 |
540,671 |
|
------------- |
------------- |
|
2,328,366 |
2,198,339 |
|
------------- |
------------- |
|
|
|
Other debtors include £537,872 (2023: £537,872) due to companies whose directors include the director of the company.
7.
CREDITORS:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
5,040 |
2,400 |
|
Corporation tax |
2,595 |
3,903 |
|
Other creditors |
1,118,146 |
1,433,184 |
|
------------- |
------------- |
|
1,125,781 |
1,439,487 |
|
------------- |
------------- |
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Other creditors include £1,053,405 (2023: £1,374,776) payable to companies whose directors include the director of the company. Also within other creditors is an amount of £51,801 due to the director of the company.