OVAL COMMERCIAL INVESTMENTS LIMITED

OVAL COMMERCIAL INVESTMENTS LIMITED

OVAL COMMERCIAL INVESTMENTS LIMITED - Company Information

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OVAL COMMERCIAL INVESTMENTS LIMITED

Company Registration Number:
06522900 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2020

Period of accounts

Start date: 01 January 2020

End date: 31 December 2020

OVAL COMMERCIAL INVESTMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2020

Balance sheet
Notes

OVAL COMMERCIAL INVESTMENTS LIMITED

Balance sheet

As at 31 December 2020


Notes
2020
2019


£
£
Called up share capital not paid: 0 0
Fixed assets
Investments: 3 1,960,355 1,924,436
Total fixed assets: 1,960,355 1,924,436
Current assets
Stocks: 295,973 295,973
Debtors:   132,743 1,098,026
Cash at bank and in hand: 5 964
Total current assets: 428,721 1,394,963
Creditors: amounts falling due within one year:   (451,036) (732,405)
Net current assets (liabilities): (22,315) 662,558
Total assets less current liabilities: 1,938,040 2,586,994
Creditors: amounts falling due after more than one year: 4 (1,360,067) (2,020,047)
Total net assets (liabilities): 577,973 566,947
Capital and reserves
Called up share capital: 100 100
Revaluation reserve:585,73749,818
Profit and loss account: 492,136 517,029
Shareholders funds: 577,973 566,947

The notes form part of these financial statements

OVAL COMMERCIAL INVESTMENTS LIMITED

Balance sheet statements

For the year ending 31 December 2020 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 06 August 2021
and signed on behalf of the board by:

Name: Mr A G Broadway
Status: Director

The notes form part of these financial statements

OVAL COMMERCIAL INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Valuation and information policy

Inventories have been valued at the lower of cost and estimated selling price less costs to sell. In respect of works in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Other accounting policies

The company only enters into basic financial instruments - transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

OVAL COMMERCIAL INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

2. Employees

2020 2019
Average number of employees during the period 0 0

OVAL COMMERCIAL INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

3. Fixed investments

Investment properties are included in the Statement of Financial Position at their open market value in accordance with the Financial Reporting Standard for Smaller Entities and are not depreciated. This is contrary to the Companies Act 1985 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

OVAL COMMERCIAL INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

4. Creditors: amounts falling due after more than one year note

The properties and plots owned by the company have first charges in favour of Aldermore Bank PLC and Interbay PLC

OVAL COMMERCIAL INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

5. Revaluation reserve

2020
£
Balance at 01 January 2020 49,818
Surplus or deficit after revaluation 35,919
Balance at 31 December 2020 85,737

In accordance with UK GAAP, the directors have updated the valuations using data publicly available on prevailing market values

OVAL COMMERCIAL INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

6. Related party transactions

Oval Estates (Bath) Ltd is the parent company. As at 31 December 2020, Oval Commercial Investments owed Oval Estates (Bath) Ltd £0.