Company Registration No. 08373764 (England and Wales)
OBI Property Limited
Unaudited accounts
for the year ended 30 April 2021
OBI Property Limited
Unaudited accounts
Contents
OBI Property Limited
Company Information
for the year ended 30 April 2021
Directors
Dominic Francis Horridge
William John Lewis
Company Number
08373764 (England and Wales)
Registered Office
80 MOSLEY STREET
MANCHESTER
M2 3FX
Accountants
Accounts Lab Ltd
The Leeming Building
Vicar Lane
Leeds
West Yorkshire
LS2 7JF
OBI Property Limited
Statement of financial position
as at
30 April 2021
Intangible assets
9,485
11,856
Tangible assets
38,662
34,850
Debtors
1,415,112
1,108,596
Cash at bank and in hand
2,639,709
2,643,528
Creditors: amounts falling due within one year
(905,513)
(404,566)
Net current assets
3,149,308
3,347,558
Total assets less current liabilities
3,197,455
3,394,264
Provisions for liabilities
Deferred tax
(7,346)
(5,304)
Net assets
3,190,109
3,388,960
Called up share capital
20
20
Capital redemption reserve
10
10
Profit and loss account
3,190,079
3,388,930
Shareholders' funds
3,190,109
3,388,960
For the year ending 30 April 2021 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2021 and were signed on its behalf by
Dominic Francis Horridge
Director
Company Registration No. 08373764
OBI Property Limited
Notes to the Accounts
for the year ended 30 April 2021
OBI Property Limited is a private company, limited by shares, registered in England and Wales, registration number 08373764. The registered office is 80 MOSLEY STREET, MANCHESTER, M2 3FX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% reducing balance
Fixtures & fittings
20% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
OBI Property Limited
Notes to the Accounts
for the year ended 30 April 2021
4
Intangible fixed assets
Goodwill
Other
Total
At 1 May 2020
1,360,000
15,330
1,375,330
At 30 April 2021
1,360,000
15,330
1,375,330
At 1 May 2020
1,360,000
3,474
1,363,474
Charge for the year
-
2,371
2,371
At 30 April 2021
1,360,000
5,845
1,365,845
At 30 April 2021
-
9,485
9,485
At 30 April 2020
-
11,856
11,856
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2020
63,081
33,328
12,668
109,077
Additions
13,064
-
2,415
15,479
At 30 April 2021
76,145
33,328
15,083
124,556
At 1 May 2020
43,980
21,305
8,942
74,227
Charge for the year
8,357
2,404
906
11,667
At 30 April 2021
52,337
23,709
9,848
85,894
At 30 April 2021
23,808
9,619
5,235
38,662
At 30 April 2020
19,101
12,023
3,726
34,850
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
1,004,186
730,993
Accrued income and prepayments
108,913
78,366
Other debtors
302,013
299,237
7
Creditors: amounts falling due within one year
2021
2020
Trade creditors
121,684
84,230
Taxes and social security
561,749
316,459
Other creditors
5,750
3,877
Loans from directors
9,215
-
OBI Property Limited
Notes to the Accounts
for the year ended 30 April 2021
8
Share capital
2021
2020
Allotted, called up and fully paid:
20 Ordinary shares of £1 each
20
20
9
Transactions with related parties
Studio OBI Limited:
The company is related to Studio OBI Limited by virtue of common shareholders and directors. The amount owed from Studio OBI Limited at the balance sheet date was £64,265 (2020: £62,265).
The Difference (Manchester) Limited:
The company is related to The Difference (Manchester) Limited by virtue of common shareholders and directors. The amount owed from The Difference (Manchester) Limited at the balance sheet date was £170,245 (2020: £177,748).
10
Average number of employees
During the year the average number of employees was 31 (2020: 28).