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REGISTERED NUMBER: 01958706 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

OM PROPERTIES INVESTMENT COMPANY
LIMITED

OM PROPERTIES INVESTMENT COMPANY
LIMITED (REGISTERED NUMBER: 01958706)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OM PROPERTIES INVESTMENT COMPANY
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr A M Chugani



REGISTERED OFFICE: The Pantiles Gartree Road
Oadby
Leicester
Leicestershire
LE2 2FB



REGISTERED NUMBER: 01958706 (England and Wales)



BANKERS: Barclays Bank PLC
2 Blackbird Road
Leicester
Leicestershire
LE4 0FS

OM PROPERTIES INVESTMENT COMPANY
LIMITED (REGISTERED NUMBER: 01958706)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,182 13,727
Investments 5 400,000 400,000
Investment property 6 41,178,995 41,178,995
41,593,177 41,592,722

CURRENT ASSETS
Debtors 7 102,691 79,810
Cash at bank 2,446,985 1,759,925
2,549,676 1,839,735
CREDITORS
Amounts falling due within one year 8 1,770,422 1,901,226
NET CURRENT ASSETS/(LIABILITIES) 779,254 (61,491 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,372,431

41,531,231

CREDITORS
Amounts falling due after more than one
year

9

(2,197,595

)

(2,559,438

)

PROVISIONS FOR LIABILITIES (3,268,463 ) (2,996,150 )
NET ASSETS 36,906,373 35,975,643

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 11 13,061,746 13,061,746
Retained earnings 23,834,627 22,903,897
SHAREHOLDERS' FUNDS 36,906,373 35,975,643

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

OM PROPERTIES INVESTMENT COMPANY
LIMITED (REGISTERED NUMBER: 01958706)

BALANCE SHEET - continued
31 MARCH 2023


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 director and authorised for issue on 23 November 2023 and were signed by:





Mr A M Chugani - Director


OM PROPERTIES INVESTMENT COMPANY
LIMITED (REGISTERED NUMBER: 01958706)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

OM Properties Investment Company 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover relates to the commercial letting of properties and is recognised within the accounts in line with the period of rental.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 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.

OM PROPERTIES INVESTMENT COMPANY
LIMITED (REGISTERED NUMBER: 01958706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 169,714 6,823 176,537
Additions - 4,579 4,579
At 31 March 2023 169,714 11,402 181,116
DEPRECIATION
At 1 April 2022 159,172 3,638 162,810
Charge for year 2,108 2,016 4,124
At 31 March 2023 161,280 5,654 166,934
NET BOOK VALUE
At 31 March 2023 8,434 5,748 14,182
At 31 March 2022 10,542 3,185 13,727

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 400,000
NET BOOK VALUE
At 31 March 2023 400,000
At 31 March 2022 400,000

Cost or valuation at 31 March 2023 is represented by:

Other
investments
£   
Cost 400,000

OM PROPERTIES INVESTMENT COMPANY
LIMITED (REGISTERED NUMBER: 01958706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 41,178,995
NET BOOK VALUE
At 31 March 2023 41,178,995
At 31 March 2022 41,178,995

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 2,696,272
Cost 38,482,723
41,178,995

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 299,901 258,651
Bad debt provision (216,333 ) (197,754 )
Prepayments 19,123 18,913
102,691 79,810

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 186,635 445,886
Taxation 281,652 293,527
VAT 136,444 152,281
Other creditors 427,606 286,152
Rent deposits 306,662 304,162
Accrued expenses 431,423 419,218
1,770,422 1,901,226

OM PROPERTIES INVESTMENT COMPANY
LIMITED (REGISTERED NUMBER: 01958706)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 238,468
Bank loans - 2-5 years - 55,427
Other creditors 2,197,595 2,265,543
2,197,595 2,559,438

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 186,635 739,781

The bank loans and overdraft facilities are secured by a charge over the assets of the company including freehold investment properties. The bank loans are repayable over 15 years.

11. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 13,061,746