OAKHAM PROPERTY INVESTMENTS LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024
Oakham Property Investments Limited ("the Company") is a company limited by shares and incorporated and domiciled in the UK. The registered number is 12589598 and the registered address is 15 Saxon Way East, Oakley Hay Industrial Estate, Corby, Northants, NN18 9EY.
2.Accounting policies
|
|
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The presentation currency of these financial statements is sterling. All amounts in the financial statements have been rounded to the nearest £1.
|
|
Financial Reporting Standard 102 - reduced disclosure exemptions
|
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of J & A Young Group Limited as at 30 September 2024 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
At 30 September 2024 the company had negative reserves and net current liabilities. The directors have confirmed that their loans to the business will not be repaid until the company has sufficient funds to do so. The subsidiary company has also confirmed that intercompany loans will not be repaid until the company has sufficient funds to do so. Support has been confirmed for the business for a period of at least 12 months from the date of signature of these accounts, on this basis the accounts have been prepared on a going concern basis.
Finance costs are charged to the profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Page 2
|