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REGISTERED NUMBER: 10298685 (England and Wales)












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: Ms M J Gray
Mr O R Gray





REGISTERED OFFICE: The Tree House
Chapel End
Broxted
Essex
CM6 2BW





REGISTERED NUMBER: 10298685 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
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 5,240 -
Investments 5 2 1
5,242 1

CURRENT ASSETS
Debtors 233,250 105,000
Cash at bank and in hand 18,436 23,662
251,686 128,662
CREDITORS
Amounts falling due within one year 238,378 98,423
NET CURRENT ASSETS 13,308 30,239
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,550

30,240

CREDITORS
Amounts falling due after more than one
year

18,466

23,596
NET ASSETS 84 6,644

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 83 6,643
84 6,644

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





Ms M J Gray - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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 6,987
At 30 June 2024 6,987
DEPRECIATION
Charge for year 1,747
At 30 June 2024 1,747
NET BOOK VALUE
At 30 June 2024 5,240

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.