Company registration number 09812216 (England and Wales)
OAKMONT PROPERTY GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
OAKMONT PROPERTY GROUP LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
OAKMONT PROPERTY GROUP LTD
BALANCE SHEET
AS AT 29 JUNE 2023
29 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
141,934
206,159
Cash at bank and in hand
63,155
150
205,089
206,309
Creditors: amounts falling due within one year
4
(2,850)
(1,880)
Net current assets
202,239
204,429
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
202,139
204,329
Total equity
202,239
204,429

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 1 March 2024 and are signed on its behalf by:
Mr C Daniel
Director
Company Registration No. 09812216
OAKMONT PROPERTY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023
- 2 -
1
Accounting policies
Company information

Oakmont Property Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Office 4003, 87 Kimber Road, London, SW18 4FS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.5

Other creditors

Other creditors are measured at their transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at prevailing market rate of interest.

1.6

Other debtors

Other debtors are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest.

OAKMONT PROPERTY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
141,934
206,159
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
2,850
1,880
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
6
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

At the year end the company was owed £141,934 (2022 - £206,159) by companies under common control, this amount is included in other debtors.

 

At year end the company owed the directors £700 (2022 - £200), this amount is included in other creditors, is interest free and repayable on demand.

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