Outdoor Living Properties Limited - Accounts to registrar (filleted) - small 18.2

Outdoor Living Properties Limited - Accounts to registrar (filleted) - small 18.2

OUTDOOR LIVING PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 05304025 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2021

FOR

OUTDOOR LIVING PROPERTIES LIMITED
OUTDOOR LIVING PROPERTIES LIMITED (REGISTERED NUMBER: 05304025)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


OUTDOOR LIVING PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2021







DIRECTORS: K Newby
P M Margerison





SECRETARY: K Newby





REGISTERED OFFICE: 21 Marina Court
Hull
HU1 1TJ





REGISTERED NUMBER: 05304025 (England and Wales)





ACCOUNTANTS: Banks Cooper Associates Limited
21 Marina Court
Castle Street
Hull
HU1 1TJ
Page 1
OUTDOOR LIVING PROPERTIES LIMITED (REGISTERED NUMBER: 05304025)

ABRIDGED BALANCE SHEET
31 JANUARY 2021

31.1.21 31.1.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1
Investment property 5 840,000 988,393
840,000 988,394

CURRENT ASSETS
Cash at bank 17,608 11,410

CREDITORS
Amounts falling due within one year 397,282 46,254
NET CURRENT LIABILITIES (379,674 ) (34,844 )
TOTAL ASSETS LESS CURRENT LIABILITIES 460,326 953,550

CREDITORS
Amounts falling due after more than one year 62,475 438,150
NET ASSETS 397,851 515,400

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 146,450 294,843
Retained earnings 251,399 220,555
397,851 515,400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 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 notes form part of these financial statements

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OUTDOOR LIVING PROPERTIES LIMITED (REGISTERED NUMBER: 05304025)

ABRIDGED BALANCE SHEET - continued
31 JANUARY 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 August 2021 and were signed on its behalf by:




K Newby - Director



P M Margerison - Director


The notes form part of these financial statements

Page 3
OUTDOOR LIVING PROPERTIES LIMITED (REGISTERED NUMBER: 05304025)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021


1. STATUTORY INFORMATION

Outdoor Living Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the modification to a fair value basis for certain financial instruments as specified below.

These financial statements have been prepared under the going concern principle although the current liabilities of the company exceed its current assets. The company is reliant on the continued support of its shareholders and finance providers.

The directors are confident that such support will continue to be provided and consider that the going concern concept continues to be appropriate and this has therefore been applied. In making this assessment, the directors have also considered the future performance of the business.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

Page 4
OUTDOOR LIVING PROPERTIES LIMITED (REGISTERED NUMBER: 05304025)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2021


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2020
and 31 January 2021 5,217
DEPRECIATION
At 1 February 2020 5,216
Charge for year 1
At 31 January 2021 5,217
NET BOOK VALUE
At 31 January 2021 -
At 31 January 2020 1

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2020 988,393
Revaluations (148,393 )
At 31 January 2021 840,000
NET BOOK VALUE
At 31 January 2021 840,000
At 31 January 2020 988,393

Investment properties have been valued on an open market basis.

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