| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| OMG PROPERTY LETS LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| OMG PROPERTY LETS LTD |
| OMG PROPERTY LETS LTD (REGISTERED NUMBER: 10298685) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 June 2024 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| OMG PROPERTY LETS LTD |
| COMPANY INFORMATION |
| for the year ended 30 June 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 19-20 Bourne Court |
| Southend Road |
| Woodford Green |
| Essex |
| IG8 8HD |
| OMG PROPERTY LETS LTD (REGISTERED NUMBER: 10298685) |
| ABRIDGED BALANCE SHEET |
| 30 June 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The directors acknowledge their 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. |
| OMG PROPERTY LETS LTD (REGISTERED NUMBER: 10298685) |
| ABRIDGED BALANCE SHEET - continued |
| 30 June 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| OMG PROPERTY LETS LTD (REGISTERED NUMBER: 10298685) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 June 2024 |
| 1. | STATUTORY INFORMATION |
| Omg Property Lets Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors. |
| Turnover |
| Turnover is measured at the fair value of the consideration receivable, excluding Value Added Tax. |
| Turnover incudes property rental income and letting fees, excluding Value Added Tax, which is recognised in the period which it is earned. Amounts invoiced in excess of the amounts earned during the period are recognised as deferred income in creditors. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investments in associates |
| Investments in associate undertakings are recognised at cost. |
| 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. |
| Short term debtors and creditors |
| Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
| OMG PROPERTY LETS LTD (REGISTERED NUMBER: 10298685) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| Additions |
| At 30 June 2024 |
| DEPRECIATION |
| Charge for year |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Information on investments other than loans is as follows: |
| Totals |
| £ |
| COST |
| At 1 July 2023 | 1 |
| Additions | 73,026 |
| Disposals | (73,025 | ) |
| At 30 June 2024 | 2 |
| NET BOOK VALUE |
| At 30 June 2024 | 2 |
| At 30 June 2023 | 1 |
| 6. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, the company owed £85,025 (2023: £157) to the directors. |
| Also at the balance sheet date, the company owed £125,484 (2023: £51,087) to OMG Developments Limited, a company connected by virtue of common control. The company also owed £7,736 (2023: 20,000) to Lavender Close Development Limited, and was owed £140,000 (2023: £90,000) by Taylor Gray Holdings Limited and £75,000 (2023: £nil) by Molehill Projects Limited, companies in which a director and shareholder has joint-control. |
| OMG PROPERTY LETS LTD (REGISTERED NUMBER: 10298685) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2024 |
| 7. | ILLEGAL DIVIDEND |
| During the accounting period a dividend was paid in contravention to section 830 of the Companies Act 2006. When the distribution was made, the company was unaware that profits were not available for this purpose. The company undertakes to make no further distributions until the deficit is covered. |