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Company Registration No. 12756659 (England and Wales)
OILBRIDGE PROPERTIES LTD Management Accounts for 11 Months-Ended June 30, 2024 for the year ended 31 July 2024
OILBRIDGE PROPERTIES LTD Management Accounts for 11 Months-Ended June 30, 2024 Contents
Page
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OILBRIDGE PROPERTIES LTD Company Information for the year ended 31 July 2024
Director
ODUSANYA, Oluwatoni Babafemi
Company Number
12756659 (England and Wales)
Registered Office
20-22 WENLOCK ROAD LONDON N1 7GU ENGLAND
Accountants
Wrights Consulting Ltd 14 Dovedale Road Dartford Kent DA2 6JJ
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OILBRIDGE PROPERTIES LTD Statement of financial position as at 31 July 2024
2024 
Notes
£ 
Fixed assets
Investment property
1,991,000 
Current assets
Cash at bank and in hand
32,298 
Creditors: amounts falling due within one year
(596,209)
Net current liabilities
(563,911)
Total assets less current liabilities
1,427,089 
Creditors: amounts falling due after more than one year
(1,482,000)
Net liabilities
(54,911)
Capital and reserves
Called up share capital
1 
Profit and loss account
(54,912)
Shareholders' funds
(54,911)
For the year ending 31 July 2024 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 director acknowledges his 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 and authorised for issue on 22 July 2024 and were signed on its behalf by
ODUSANYA, Oluwatoni Babafemi Director Company Registration No. 12756659
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OILBRIDGE PROPERTIES LTD Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
OILBRIDGE PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 12756659. The registered office is 20-22 WENLOCK ROAD, LONDON, N1 7GU, ENGLAND.
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.
3
Accounting policies
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.
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 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.
Basis of Preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Going concern
There are no indications that the company is not a going concern.
4
Investment property
2024 
£ 
Additions
1,991,000 
At 31 July 2024
1,991,000 
The amount relates to total cost of the investment properties the business invested in.
5
Creditors: amounts falling due within one year
2024 
£ 
Loans from directors
596,209 
6
Creditors: amounts falling due after more than one year
2024 
£ 
Bank loans
1,482,000 
The amount reflects the total amount of third-party funds received with Finance providers.
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OILBRIDGE PROPERTIES LTD Notes to the Accounts for the year ended 31 July 2024
7
Share capital
2024 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
8
Average number of employees
During the year the average number of employees was 0.
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