Oldrose Estates Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 4961433

Oldrose Estates Limited

Filleted Unaudited Financial Statements

30 November 2024

Oldrose Estates Limited

Statement of Financial Position

30 November 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6	2,397,500	2,390,000
Investments	7	21,448	21,448
		------------	------------
		2,418,948	2,411,448

Current assets

Debtors	8	140,842	49,098
Cash at bank and in hand		13,985	1,496
		---------	--------
		154,827	50,594

Creditors: amounts falling due within one year	9	93,024		109,082
		---------		---------
Net current assets/(liabilities)			61,803	( 58,488)
			------------	------------
Total assets less current liabilities			2,480,751	2,352,960

Creditors: amounts falling due after more than one year	10		1,256,858	1,146,030

Provisions

Taxation including deferred tax	144,268	142,843
	------------	------------
Net assets	1,079,625	1,064,087
	------------	------------

Capital and reserves

Called up share capital	100	100
Fair value reserve	615,037	608,962
Profit and loss account	464,488	455,025
	------------	------------
Shareholders funds	1,079,625	1,064,087
	------------	------------

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 30 November 2024 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 .

Oldrose Estates Limited

Statement of Financial Position (continued)

30 November 2024

These financial statements were approved by the board of directors and authorised for issue on 26 November 2025 , and are signed on behalf of the board by:

T M Lazenbury Esq.	A J Rafferty Esq.
Director	Director

Company registration number: 4961433

Oldrose Estates Limited

Notes to the Financial Statements

Year ended 30 November 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 TML House, 1A The Anchorage, Gosport, Hampshire, PO12 1LY.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	2,220	8,066
Adjustments in respect of prior periods	–	( 2)
	-------	-------
Total current tax	2,220	8,064
	-------	-------

Deferred tax:

Origination and reversal of timing differences	1,425	6,650
	-------	--------
Tax on profit	3,645	14,714
	-------	--------

6. Tangible assets

	Freehold property	Long leasehold property	Total
	£	£	£
Cost or valuation
At 1 December 2023	100,000	2,290,000	2,390,000
Revaluations	–	7,500	7,500
	---------	------------	------------
At 30 November 2024	100,000	2,297,500	2,397,500
	---------	------------	------------
Depreciation
At 1 December 2023 and 30 November 2024	–	–	–
	---------	------------	------------
Carrying amount
At 30 November 2024	100,000	2,297,500	2,397,500
	---------	------------	------------
At 30 November 2023	100,000	2,290,000	2,390,000
	---------	------------	------------

The company holds investment property with a cost price of £1,638,195 (2023: £1,638,195). The properties are reflected in the accounts at their fair value at the balance sheet date. The valuation is carried out annually by the directors with reference to the open market.

7. Investments

	Shares in group undertakings	Other investments other than loans	Total
	£	£	£
Cost
At 1 December 2023 and 30 November 2024	6	21,442	21,448
	----	--------	--------
Impairment
At 1 December 2023 and 30 November 2024	–	–	–
	----	--------	--------

Carrying amount
At 30 November 2024	6	21,442	21,448
	----	--------	--------
At 30 November 2023	6	21,442	21,448
	----	--------	--------

The company owns 100 per cent of the issued share capital of Buildfine Estates Limited. As at 30th November 2024 Buildfine Estates Limited had capital and reserves of £142,604 (2023: £129,483) and a profit within the year before taxation of £16,298 (2023: £19,973).

Under the provision of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

8. Debtors

	2024	2023
	£	£
Trade debtors	2,401	5,515
Other debtors	138,441	43,583
	---------	--------
	140,842	49,098
	---------	--------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	4,000	4,001
Corporation tax	3,471	21,403
Other creditors	85,553	83,678
	--------	---------
	93,024	109,082
	--------	---------

10. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	1,131,858	1,021,030
Other creditors	125,000	125,000
	------------	------------
	1,256,858	1,146,030
	------------	------------

The bank loans totalling £1,135,858 (2023: £1,025,029) are secured over all the company's leasehold land and buildings.

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
T M Lazenbury Esq.	( 12,009)	2,548	( 9,461)
A J Rafferty Esq.	( 99,110)	( 2,844)	( 101,954)
	---------	-------	---------
	( 111,119)	( 296)	( 111,415)
	---------	-------	---------

	2023
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
T M Lazenbury Esq.	( 10,502)	( 1,507)	( 12,009)
A J Rafferty Esq.	( 98,428)	( 682)	( 99,110)
	---------	-------	---------
	( 108,930)	( 2,189)	( 111,119)
	---------	-------	---------

12. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2024	2023	2024	2023
	£	£	£	£
Buildfine Estates Limited	(5,796)	(17,090)	( 10,204)	( 4,409)
Hollyrush Developments Limited	20,478	19,122	28,362	7,884
Lazenbury Limited	15,086	19,947	( 64,130)	( 79,216)
Lazraf Properties Limited	60,163	(1,472)	89,681	29,518
	--------	--------	--------	--------

The company was under the control of Hollyrush Developments Limited and T Lazenbury Esq throughout the current and previous year. Each owns fifty per cent of the issued share capital of the company. Buildfine Estates Limited is the subsidiary company of Oldrose Estates Limited . Lazraf Properties Limited is a company under the control of T Lazenbury Esq and Mrs K J Rafferty.