REGISTERED NUMBER: 08869983 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2025

for

Open Property Finance Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Cove

J Harris-Cohen

Mrs N Cove

REGISTERED OFFICE:

Suite 1

Europa House

13 Marsham Way

Gerrards Cross

Buckinghamshire

SL9 8BQ

REGISTERED NUMBER:

08869983 (England and Wales)

ACCOUNTANTS:

BBK Partnership Limited

Chartered Accountants

Suite 2C, Brosnan House

175 Darkes Lane

Potters Bar

Hertfordshire

EN6 1BW

FIXED ASSETS

Tangible assets

4

1,746,601

2,334,610

Investments

5

100

100

1,746,701

2,334,710

CURRENT ASSETS

Stocks

6

4,943,260

5,306,462

Debtors

7

4,760,389

4,395,424

Cash at bank and in hand

4,714

13,695

9,708,363

9,715,581

CREDITORS

Amounts falling due within one year

8

4,816,979

4,399,776

NET CURRENT ASSETS

4,891,384

5,315,805

TOTAL ASSETS LESS CURRENT LIABILITIES

6,638,085

7,650,515

CREDITORS

Amounts falling due after more than one year

9

(8,068,229

)

(8,479,037

)

PROVISIONS FOR LIABILITIES

12

(15,000

)

(38,750

)

NET LIABILITIES

(1,445,144

)

(867,272

)

CAPITAL AND RESERVES

Called up share capital

13

1,000

1,000

Investment property

revaluation reserve

14

45,000

94,994

Retained earnings

14

(1,491,144

)

(963,266

)

SHAREHOLDERS' FUNDS

(1,445,144

)

(867,272

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 29 April 2026 and were signed on its behalf by:

J Harris-Cohen - Director

1.	STATUTORY INFORMATION

Open Property Finance 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about Open Property Finance Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents sales of properties and rents received from the stock of properties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Website

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

All properties are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve. The directors consider that this policy results in the accounts giving a true and fair view.

Stocks

Stock of properties are valued at the lower of cost and net realisable value.

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 and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Long

property

leasehold

Website

£

£

£

COST OR VALUATION

At 1 May 2024

1,186,954

1,082,356

27,808

Additions

13,807

21,960

-

Disposals

(416,861

)

(97,115

)

-

Revaluations

(75,000

)

(20,000

)

-

At 30 April 2025

708,900

987,201

27,808

DEPRECIATION

At 1 May 2024

-

-

17,808

Charge for year

-

-

1,500

At 30 April 2025

-

-

19,308

NET BOOK VALUE

At 30 April 2025

708,900

987,201

8,500

At 30 April 2024

1,186,954

1,082,356

10,000

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 May 2024

64,145

21,793

2,383,056

Additions

-

-

35,767

Disposals

-

-

(513,976

)

Revaluations

-

-

(95,000

)

At 30 April 2025

64,145

21,793

1,809,847

DEPRECIATION

At 1 May 2024

14,145

16,493

48,446

Charge for year

12,500

800

14,800

At 30 April 2025

26,645

17,293

63,246

NET BOOK VALUE

At 30 April 2025

37,500

4,500

1,746,601

At 30 April 2024

50,000

5,300

2,334,610

Freehold and leasehold investment properties were revalued by the directors on an open market basis on 30 April 2025.

Cost or valuation at 30 April 2025 is represented by:

Freehold

Long

property

leasehold

Website

£

£

£

Valuation in 2018

148,134

44,728

-

Valuation in 2019

58,829

1,595

-

Valuation in 2020

(24,784

)

6,000

-

Valuation in 2021

(3,249

)

25,137

-

Valuation in 2022

210,000

(5,000

)

-

Valuation in 2023

42,252

78,594

-

Valuation in 2024

(336,183

)

(91,055

)

-

Valuation in 2025

(74,998

)

(19,999

)

-

Cost

688,899

947,201

27,808

708,900

987,201

27,808

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2018

-

-

192,862

Valuation in 2019

-

-

60,424

Valuation in 2020

-

-

(18,784

)

Valuation in 2021

-

-

21,888

Valuation in 2022

-

-

205,000

Valuation in 2023

-

-

120,846

Valuation in 2024

-

-

(427,238

)

Valuation in 2025

-

-

(94,997

)

Cost

64,145

21,793

1,749,846

64,145

21,793

1,809,847

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 May 2024

and 30 April 2025

100

NET BOOK VALUE

At 30 April 2025

100

At 30 April 2024

100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Landlord Buyer Limited

Registered office: Suite 1, Europa House, 13 Marsham Way, Gerrards Cross, England, SL9 8BQ

Nature of business: Property Agents

%

Class of shares:

holding

Ordinary

100.00

6.

STOCKS

30.4.25

30.4.24

£

£

Stock of properties

4,943,260

5,306,462

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Other debtors

4,567,899

4,260,699

Director's loan

101,248

66,405

Amount due from subsidiary

5,025

-

Sundry debtors

76,217

38,320

Prepayments

10,000

30,000

4,760,389

4,395,424

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Bank loans and overdrafts (see note 10)

3,583,965

3,876,262

Hire purchase contracts

44,436

55,122

Trade creditors and accruals

124,797

137,673

Social security and other taxes

5,799

2,655

VAT

66,119

30,921

Sundry loans

991,863

297,143

4,816,979

4,399,776

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.25

30.4.24

£

£

Bank loans (see note 10)

12,037

12,047

Sundry loans (see note 10)

8,056,192

8,466,990

8,068,229

8,479,037

30.4.25

30.4.24

£

£

Amounts falling due in more than five years:

Repayable by instalments

Sundry loans more than 5 years

8,056,192

8,466,990

10.

LOANS

An analysis of the maturity of loans is given below:

30.4.25

30.4.24

£

£

Amounts falling due within one year or on demand:

Bank loans

3,583,965

3,876,262

Amounts falling due between one and two years:

Bank loans - 1-2 years

12,037

12,047

Amounts falling due in more than five years:

Repayable by instalments

Sundry loans more than 5 years

8,056,192

8,466,990

11.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.25

30.4.24

£

£

Bank loans

3,596,002

3,888,309

The bank loans are secured by way of fixed and floating charges over various stock of properties.

12.	PROVISIONS FOR LIABILITIES

30.4.25

30.4.24

£

£

Deferred tax

15,000

38,750

Deferred

tax

£

Balance at 1 May 2024

38,750

Provided during year

(23,750

)

Balance at 30 April 2025

15,000

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.25

30.4.24

value:

£

£

1,000

Ordinary Share

£1.00

1,000

1,000

14.

RESERVES

Investment

property

Retained

revaluation

earnings

reserve

Totals

£

£

£

At 1 May 2024

(963,266

)

94,994

(868,272

)

Deficit for the year

(527,878

)

(527,878

)

Revaluation for the year

-

(49,994

)

(49,994

)

At 30 April 2025

(1,491,144

)

45,000

(1,446,144

)

15.	DIRECTORS LOAN ACCOUNT

The following advances and credits to a director subsisted during the years ended 30 April 2025 and 30 April 2024:

30.4.25

30.4.24

£

£

J Harris-Cohen

Balance outstanding at start of year

66,405

79,016

Amounts advanced

34,843

-

Amounts repaid

-

(12,611

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

101,248

66,405

Mr J Harris-Cohen repaid £47,000 on 13th June 2025.

16.	RELATED PARTY DISCLOSURES

17.	ULTIMATE CONTROLLING PARTY

The controlling party is the directors.