Silverfin false false 31/12/2023 16/12/2022 31/12/2023 A L Maine 16/12/2022 D Maine 16/12/2022 16 September 2024 The principal activity of the Company during the financial period was investment in property. 14546130 2023-12-31 14546130 bus:Director1 2023-12-31 14546130 bus:Director2 2023-12-31 14546130 core:CurrentFinancialInstruments 2023-12-31 14546130 core:Non-currentFinancialInstruments 2023-12-31 14546130 core:ShareCapital 2023-12-31 14546130 core:RetainedEarningsAccumulatedLosses 2023-12-31 14546130 core:PlantMachinery 2022-12-15 14546130 core:FurnitureFittings 2022-12-15 14546130 2022-12-15 14546130 core:PlantMachinery 2023-12-31 14546130 core:FurnitureFittings 2023-12-31 14546130 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:Non-currentFinancialInstruments 2023-12-31 14546130 2022-12-16 2023-12-31 14546130 bus:FilletedAccounts 2022-12-16 2023-12-31 14546130 bus:SmallEntities 2022-12-16 2023-12-31 14546130 bus:AuditExemptWithAccountantsReport 2022-12-16 2023-12-31 14546130 bus:PrivateLimitedCompanyLtd 2022-12-16 2023-12-31 14546130 bus:Director1 2022-12-16 2023-12-31 14546130 bus:Director2 2022-12-16 2023-12-31 14546130 core:PlantMachinery core:TopRangeValue 2022-12-16 2023-12-31 14546130 core:FurnitureFittings core:TopRangeValue 2022-12-16 2023-12-31 14546130 core:PlantMachinery 2022-12-16 2023-12-31 14546130 core:FurnitureFittings 2022-12-16 2023-12-31 iso4217:GBP xbrli:pure

Company No: 14546130 (England and Wales)

OMMEN PROPERTIES LTD

Unaudited Financial Statements
For the financial period from 16 December 2022 to 31 December 2023
Pages for filing with the registrar

OMMEN PROPERTIES LTD

Unaudited Financial Statements

For the financial period from 16 December 2022 to 31 December 2023

Contents

OMMEN PROPERTIES LTD

BALANCE SHEET

As at 31 December 2023
OMMEN PROPERTIES LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 31.12.2023
£
Fixed assets
Tangible assets 3 94,243
Investment property 4 1,162,119
1,256,362
Current assets
Debtors 5 299
Cash at bank and in hand 1,323
1,622
Creditors: amounts falling due within one year 6 ( 1,440)
Net current assets 182
Total assets less current liabilities 1,256,544
Creditors: amounts falling due after more than one year 7 ( 1,273,857)
Net liabilities ( 17,313)
Capital and reserves
Called-up share capital 100
Profit and loss account ( 17,413 )
Total shareholders' deficit ( 17,313)

For the financial period ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ommen Properties Ltd (registered number: 14546130) were approved and authorised for issue by the Board of Directors on 16 September 2024. They were signed on its behalf by:

D Maine
Director
OMMEN PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 December 2022 to 31 December 2023
OMMEN PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 December 2022 to 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Ommen Properties Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable as rental income in the ordinary course of the company's activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
16.12.2022 to
31.12.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 16 December 2022 0 0 0
Additions 514 93,823 94,337
At 31 December 2023 514 93,823 94,337
Accumulated depreciation
At 16 December 2022 0 0 0
Charge for the financial period 94 0 94
At 31 December 2023 94 0 94
Net book value
At 31 December 2023 420 93,823 94,243

4. Investment property

Investment property
£
Valuation
As at 16 December 2022 0
Additions 1,162,119
As at 31 December 2023 1,162,119

Valuation

The value of investment property is derived from observable current market prices for comparable real estate determined by the directors. The assets have a current value of £1,162,119.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

31.12.2023
£
Historic cost 1,162,119

5. Debtors

31.12.2023
£
Other debtors 299

6. Creditors: amounts falling due within one year

31.12.2023
£
Other creditors 1,440

7. Creditors: amounts falling due after more than one year

31.12.2023
£
Amounts owed to connected companies 267,688
Other creditors 1,006,169
1,273,857