Company Registration No. 12770925 (England and Wales)
Owner.ly Ltd
Unaudited accounts
for the year ended 31 July 2025
Owner.ly Ltd
Unaudited accounts
Contents
Owner.ly Ltd
Company Information
for the year ended 31 July 2025
Directors
Elizabeth Oni-Iyiola
Temidayo Oni-Iyiola
Company Number
12770925 (England and Wales)
Registered Office
5 Jessamine Terrace
Birchwood Road
Swanley
BR8 7PY
England
Accountants
Russells Associates Limited
27 Old Gloucester Street
London
WC1N 3AX
Owner.ly Ltd
Statement of financial position
as at 31 July 2025
Investment property
107,000
104,000
Cash at bank and in hand
606
733
Creditors: amounts falling due within one year
(27,852)
(27,462)
Net current liabilities
(26,471)
(26,354)
Total assets less current liabilities
80,529
77,646
Creditors: amounts falling due after more than one year
(72,318)
(72,318)
Called up share capital
2
2
Profit and loss account
8,209
5,326
Shareholders' funds
8,211
5,328
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2026 and were signed on its behalf by
Temidayo Oni-Iyiola
Director
Company Registration No. 12770925
Owner.ly Ltd
Notes to the Accounts
for the year ended 31 July 2025
Owner.ly Ltd is a private company, limited by shares, registered in England and Wales, registration number 12770925. The registered office is 5 Jessamine Terrace, Birchwood Road, Swanley, BR8 7PY, England.
2
Compliance with accounting standards
These are the first financial statements prepared in accordance with FRS 102 Section 1A. The date of transition is 1 August 2023. The transition from FRS 105 (micro-entity provisions) has resulted in the reclassification of the company's property from a tangible fixed asset at historic cost to investment property measured at fair value.
The effect of this transition and the resulting prior period adjustment are set out in Note 9.
These financial statements for the year ended
31 July 2025 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2023.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note
11 below.
The accounts have been prepared under the historical cost convention as modified to include investment property at fair value.
The accounts are presented in £ sterling.
Investment property is property held to earn rental income or for capital appreciation, or both. In accordance with FRS 102 Section 16, investment property is measured at fair value at each reporting date. Changes in fair value are recognised in the profit and loss account in the period in which they arise. No depreciation is charged on investment property held at fair value.
Rental income is recognised on a straight-line basis over the period of the tenancy agreement.
The company has elected to apply the provisions of Section 11 Basic Financial Instruments of FRS 102 in respect of its financial instruments. Basic financial instruments, including debtors, creditors, bank loans and director loans, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method.
The tax charge for the year is based on the profit for the year. No deferred tax asset has been recognised in respect of tax losses carried forward as it is not considered sufficiently probable that future taxable profits will be available against which those losses can be utilised (FRS 102 s.29.7). The deferred tax on the fair value uplift of the investment property has not been recognised on the same basis.
Owner.ly Ltd
Notes to the Accounts
for the year ended 31 July 2025
The directors have considered the company's financial position and future prospects. The company holds an investment property generating rental income and the directors consider it appropriate to prepare the financial statements on a going concern basis.
Fair value at 1 August 2024
104,000
Net gain from fair value adjustments
3,000
The investment property comprises the freehold property at 113 Hardy Street, Hull, HU5 2PH, held for the purpose of earning rental income.
The fair value of £107,000 at 31 July 2025 (2024: £104,000) has been determined by the directors by reference to comparable market transactions in the same street and postcode. The valuation reflects the condition and location of the property at the balance sheet date.
One Savings Bank Plc holds a fixed charge over the property, registered at HM Land Registry.
The gain on revaluation of investment property of £3,000 (2024: £nil) is included within 'Income from investments' on the face of the income statement.
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2025
2024
Loans from directors
27,348
26,958
Director loans are unsecured, interest-free and repayable on demand. As the loans are repayable on demand they are classified as current liabilities.
7
Creditors: amounts falling due after more than one year
2025
2024
The bank loan is secured by a fixed charge over the investment property at 113 Hardy Street, Hull, HU5 2PH. The loan was advanced by One Savings Bank Plc and is repayable in accordance with the terms of the mortgage deed. Interest is charged at the rate agreed with One Savings Bank Plc and is reflected in the interest payable charge for the year.
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Owner.ly Ltd
Notes to the Accounts
for the year ended 31 July 2025
9
Transactions with related parties
During the year the company received loans from its directors. The balance outstanding at 31 July 2025 was £27,348 (2024: £26,958). The loans are unsecured, interest-free and repayable on demand. No interest has been charged on these loans.
No other related party transactions requiring disclosure have occurred during the year.
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).
11
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 August 2023
31 July 2024
Capital and reserves (as previously stated)
(11,927)
5,328
Prior year adjustment
20,621
-
Capital and reserves (as restated)
8,694
5,328
During the year, the company adopted FRS 102 for the first time, having previously prepared its financial statements under FRS 105.
On transition, the company reclassified its property as investment property and measured it at fair value. The resulting net adjustment of £20,621, was recognised directly in retained earnings at the date of transition.
The fair value uplift of £20,621 does not affect the 2024 income statement. It is recognised entirely as a prior period adjustment to opening equity. No fair value movement arose during the year ended 31 July 2024 (the property was carried at £104,000 at both the opening and closing balance sheet dates for that year).
The 31 July 2024 comparative figures have been prepared on an FRS 102 basis following the prior period adjustment recognised at 1 August 2023. No further adjustment was required to the 31 July 2024 closing position