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Registered number: 06961211









OAKTREE PROPERTY COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
OAKTREE PROPERTY COMPANY LIMITED
REGISTERED NUMBER: 06961211

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023


2023

2022
Note
£
£
£
£

Fixed assets
  

Investments
 4 
4,448,715
4,259,547

  
4,448,715
4,259,547

Current assets
  

Debtors: amounts falling due within one year
 5 
100
100

  
100
100

Creditors: amounts falling due within one year
 6 
(3,500)
(3,500)

Net current liabilities
  
 
 
(3,400)
 
 
(3,400)

Total assets less current liabilities
  
4,445,315
4,256,147

Creditors: amounts falling due after more than one year
 7 
(6,581,223)
(6,388,568)

  

Net liabilities
  
(2,135,908)
(2,132,421)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(2,136,008)
(2,132,521)

  
(2,135,908)
(2,132,421)


Page 1

 
OAKTREE PROPERTY COMPANY LIMITED
REGISTERED NUMBER: 06961211
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2024.


B C Hayes
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
OAKTREE PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Oaktree Property Company Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, UB8 2FX.
The company is a holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis notwithstanding that at the reporting date the company has net liabilities of £2,135,908 (2022 - £2,132,421) which indicates that the company may not be a going concern.
The beneficial owner is the principal provider of funding. At the reporting date, the amount owed to the beneficial owner was £6,581,223 
(2022 - £6,388,568) and they have confirmed that they will not seek repayment of this loan until such time as the company has sufficient funds to do so. They have also confirmed that they will provide additional funding as required to enable the Company to meet  its financial obligations as they fall due for a period of at least 12 months from the date of approving these accounts. Based on the above, the directors consider that the preparation of the financial statements on the going concern basis is appropriate.

 
2.3

Investments

Investments held as fixed assets are measured at cost less accumulated impairment.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Creditors

Creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
OAKTREE PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from third parties.
Financial assets that are measured at cost and amortised cost are assessed at each reporting date for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount is reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Investments in subsidiary companies
Loans to subsidiaries
Total

£
£
£



Cost and net book value


At 1 January 2023
2,484
4,257,063
4,259,547


Additions
-
273,108
273,108


Revaluations
-
(83,940)
(83,940)



At 31 December 2023
2,484
4,446,231
4,448,715




Page 4

 
OAKTREE PROPERTY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
100
100

100
100



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
3,500
3,500

3,500
3,500



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
6,581,223
6,388,568

6,581,223
6,388,568



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



9.


Related party transactions

Included within other creditors falling due after more than one year is an amount owed to the beneficial owner of the company, of £6,581,223 (2022 - £6,388,568).
 
Included within other debtors due within one year is an amount due from the shareholder of the company, of £100 (2022 - £100).

 
Page 5