Oswell Property Limited - Filleted accounts
Oswell Property Limited - Filleted accounts
OSWELL PROPERTY LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED | |||||||||||
30 JUNE 2022 | |||||||||||
Company Registration Number: 13433149 | |||||||||||
OSWELL PROPERTY LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 30 JUNE 2022 | |||||||||||
CONTENTS | PAGES | ||||||||||
Company information | 1 | ||||||||||
Balance sheet | 2 to 3 | ||||||||||
Notes to the financial statements | 4 to 7 | ||||||||||
OSWELL PROPERTY LIMITED | |||||||||||
COMPANY INFORMATION | |||||||||||
FOR THE PERIOD ENDED 30 JUNE 2022 | |||||||||||
DIRECTORS | |||||||||||
appointed |
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appointed |
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SECRETARY | |||||||||||
The company does not have an appointed secretary | |||||||||||
REGISTERED OFFICE | |||||||||||
COMPANY REGISTRATION NUMBER | |||||||||||
13433149 England and Wales | |||||||||||
OSWELL PROPERTY LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 30 JUNE 2022 | |||||||||||
Notes | 2022 | ||||||||||
£ | |||||||||||
FIXED ASSETS | |||||||||||
Investments | 5 | ||||||||||
CURRENT ASSETS | |||||||||||
Debtors | 6 | ||||||||||
Cash at bank and in hand | |||||||||||
CREDITORS: Amounts falling due within one year | 7 | ||||||||||
NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | |||||||||||
CREDITORS: Amounts falling due after more than one year | 8 | ||||||||||
NET (LIABILITIES) | ( |
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CAPITAL AND RESERVES | |||||||||||
Called up share capital | |||||||||||
Distributable profit and loss account | ( |
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SHAREHOLDERS' DEFICIT | ( |
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OSWELL PROPERTY LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 30 JUNE 2022 | |||||||||||
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. | |||||||||||
Signed on behalf of the board of directors | |||||||||||
P N Waite | G L Waite | ||||||||||
Director | Director | ||||||||||
Date approved by the board: |
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OSWELL PROPERTY LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 30 JUNE 2022 | |||||||||||
1 | GENERAL INFORMATION | ||||||||||
Oswell Property Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: | |||||||||||
4 Witan Way | |||||||||||
Witney | |||||||||||
Oxon | |||||||||||
OX28 6FF | |||||||||||
The company incorporated on 2 June 2021 and started to trade on 2 June 2021. | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
Basis of preparation of financial statements | |||||||||||
Going concern | |||||||||||
The accounts have been drawn up on the going concern basis. The company owes its bank £208,265 and the directors £89,998, both of which could be required for repayment without notice. The company is therefore dependent upon the continued support of the bank and the directors. The directors do not consider their own support nor the support of the bank likely to be withdrawn. | |||||||||||
If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets. |
Revenue recognition | |||||||||||
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of rental property services as soon as there is a right to consideration and is determined by reference to the value of the work performed. | |||||||||||
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity. |
OSWELL PROPERTY LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 30 JUNE 2022 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Investment properties | |||||||||||
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. | |||||||||||
Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise. | |||||||||||
Financial Instruments | |||||||||||
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. | |||||||||||
Debtors | |||||||||||
Short term debtors are measured at transaction price, less any impairment. | |||||||||||
Creditors | |||||||||||
OSWELL PROPERTY LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 30 JUNE 2022 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Taxation | |||||||||||
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits. | |||||||||||
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. | |||||||||||
3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | ||||||||||
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements. | |||||||||||
4 | EMPLOYEES | ||||||||||
The average number of persons employed by the company (including directors) during the period was: | |||||||||||
2022 | |||||||||||
Average number of employees | |||||||||||
5 | FIXED ASSET INVESTMENTS | ||||||||||
Investment Property | |||||||||||
£ | |||||||||||
Cost | |||||||||||
Additions | |||||||||||
At 30 June 2022 | 288,881 | ||||||||||
Net book value | |||||||||||
At 30 June 2022 | |||||||||||
The investment property was valued at cost for the period ending 30 June 2022. |
OSWELL PROPERTY LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 30 JUNE 2022 | |||||||||||
6 | DEBTORS | ||||||||||
2022 | |||||||||||
£ | |||||||||||
Other debtors | |||||||||||
7 | CREDITORS: Amounts falling due within one year | ||||||||||
2022 | |||||||||||
£ | |||||||||||
Accruals and deferred income | |||||||||||
Other creditors | |||||||||||
91,097 | |||||||||||
8 | CREDITORS: Amounts falling due after more than one year | ||||||||||
2022 | |||||||||||
£ | |||||||||||
Bank loans and overdrafts | |||||||||||
Included in the amounts falling due after more than one year are the following amounts which are due in more | |||||||||||
than five years: | |||||||||||
2022 | |||||||||||
£ | |||||||||||
Bank loans and overdrafts | |||||||||||
9 | SECURED DEBTS | ||||||||||