ONATCO PROPERTIES COMPANY LIMITED

ONATCO PROPERTIES COMPANY LIMITED

ONATCO PROPERTIES COMPANY LIMITED - Company Information

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ONATCO PROPERTIES COMPANY LIMITED

Company Registration Number:
NI011614 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 December 2021

Period of accounts

Start date: 01 January 2021

End date: 31 December 2021

ONATCO PROPERTIES COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2021

Balance sheet
Notes

ONATCO PROPERTIES COMPANY LIMITED

Balance sheet

As at 31 December 2021


Notes
2021
2020


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks: 0
Debtors: 3 60,843 44,954
Cash at bank and in hand: 0 0
Investments:   0 0
Total current assets: 60,843 44,954
Creditors: amounts falling due within one year: 4 (12,148) (10,818)
Net current assets (liabilities): 48,695 34,136
Total assets less current liabilities: 48,695 34,136
Creditors: amounts falling due after more than one year: 5 (67,814) (67,814)
Total net assets (liabilities): (19,119) (33,678)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (19,219) (33,778)
Shareholders funds: (19,119) (33,678)

The notes form part of these financial statements

ONATCO PROPERTIES COMPANY LIMITED

Balance sheet statements

For the year ending 31 December 2021 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 24 March 2023
and signed on behalf of the board by:

Name: Nicholas Doherty
Status: Director

The notes form part of these financial statements

ONATCO PROPERTIES COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

1. Accounting policies

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

Turnover policy

The financial statements have been prepared on the going concern basis and in accordance with thehistorical cost convention modified to include certain items at fair value. The financial reportingframework that has been applied in their preparation is the Companies Act 2006 (the Act) and FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland issued by theFinancial Reporting Council. The company qualifies as a small company for the period, as definedby section 382 of the Act, in respect of the financial year, and has applied the rules of the ‘SmallCompanies Regime’ in accordance with section 381 of the Act and Section 1A of FRS 102The company made a profit after tax of £14,559 and has net current assets of £48,695 and netliabilities of £19,119.Turnover represents amounts chargeable, net of value added tax, in respect of ground rent.

Other accounting policies

Current tax is recognised on taxable profit for the current and past periods. Current tax is measuredat the amounts of tax expected to pay or recover using the tax rates and laws that have beenenacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences that have originated but not reversed atthe balance sheet date where transactions or events have occurred at that date that will result in anobligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:Deferred tax assets are recognised only to the extent that the directors consider that it is more likelythan not that there will be suitable taxable profits from which the future reversal of the underlyingtiming differences can be deducted.Cash consists of cash on hand and demand deposits.All borrowings by the company are initially recorded at the amount of cash received less separatelyincurred transaction costs, unless the arrangement constitutes, in effect, a financing transaction, inwhich case it is measured at the present value of future payments discounted at a market rate ofinterest for a similar debt instrument. Subsequently, borrowings are stated at amortised cost usingthe effective interest rate method.The ordinary share capital of the company is presented as equity.

ONATCO PROPERTIES COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

2. Employees

2021 2020
Average number of employees during the period 0 0

The average number of persons employed by the company during the financial year, including thedirectors, amount to Nil (2020: Nil).

ONATCO PROPERTIES COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

3. Debtors

2021 2020
££
Debtors due after more than one year: 0 0

All debtors are due within one year. Amounts owed by group companies are interest free and repayableon demand.

ONATCO PROPERTIES COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

4. Creditors: amounts falling due within one year note

Trade creditors £ 531 Other creditors £ 11,617 Total creditors - amounts falling due within one year £ 12,148 The repayment terms of trade creditors vary between on demand and ninety days. Trade creditors do notattract interest.The terms of the accruals are based on the underlying contract.

ONATCO PROPERTIES COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

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

Bank loans and overdrafts £ 67,814The company's bank loans are interest free and are due for repayment in August 2027 and are securedby the following:First fixed charges over all assets of the Group and, where possible, second and subsequent chargesover all other assets of the Group;Floating charges over the assets and undertaking of all incorporated EPF Acquisition Co 65 Sarl obligors;andFirst fixed charges over shares from companies within the Group.

ONATCO PROPERTIES COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

6. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under FRS102 Section 1A.