Och Property 1 Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09622824 (England and Wales)

OCH PROPERTY 1 LIMITED

Unaudited Financial Statements

for the Year Ended 30 June 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

Rhonda Joanne Hasell

David Morgan

Leslie Ralph Pendlebury-Bowe

Robert James Brophy

Secretary:

Rhonda Joanne Hasell

Registered office:

New Derwent House

69 -73 Theobalds Road

London

WC1X 8TA

Registered number:

09622824 (England and Wales)

Accountants:

Haines Watts

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

180,000

148,427

Current assets

Cash at bank

6,144

5,193

Creditors

Amounts falling due within one year

5

125,251

129,911

Net current liabilities

(119,107

)

(124,718

)

Total assets less current liabilities

60,893

23,709

Provisions for liabilities

5,999

-

Net assets

54,894

23,709

Capital and reserves

Called up share capital

6

4

4

Retained earnings

7

54,890

23,705

Shareholders' funds

54,894

23,709

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 10 March 2023 and were signed on its behalf by:

Rhonda Joanne Hasell - Director

1.	Statutory information

Och Property 1 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.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Critical accounting judgements and estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical judgements in applying the Company's accounting policies

The Company makes a number of assessments which require judgement in preparing the accounts and can have a significant effect upon the financial statements. However due to the straight forward nature of the Company's business, management does not believe that there are any judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

(b) Key accounting estimates and assumptions

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. However due to the straight forward nature of the Company's business, management does not believe that there are any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Going concern

These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, and cash and bank balances, are initially recognised at transaction price.

Trade receivables are assets due for services that have been acquired in the ordinary course of business from customers. Accounts receivables are classified as current assets if receipt is expected within one year or less. If not, they are presented as non-current assets. Trade receivables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3.	Employees and directors

The average number of employees during the year was NIL (2021 - NIL).

4.	Tangible fixed assets

Freehold

property

£

Cost or valuation

At 1 July 2021

148,427

Revaluations

31,573

At 30 June 2022

180,000

Net book value

At 30 June 2022

180,000

At 30 June 2021

148,427

Cost or valuation at 30 June 2022 is represented by:

Freehold

property

£

Valuation in 2021

148,427

Valuation in 2022

31,573

180,000

5.

Creditors: amounts falling due within one year

2022

2021

£

£

Amounts owed to associates

122,435

126,435

Taxation and social security

1,316

2,516

Other creditors

1,500

960

125,251

129,911

6.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

4

Ordinary

£1

4

4

7.

Reserves

Retained

earnings

£

At 1 July 2021

23,705

Profit for the year

31,185

At 30 June 2022

54,890

Included in Retained earnings is Non-distributable reserves of £31,573 that relates to the revaluation of Freehold property.

8.	Related party disclosures

Included in creditors is a balance of £122,435 (2020: £126,435) which is due to the directors.

9.	Ultimate controlling party

The company is controlled by the directors.