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REGISTERED NUMBER: 14419269 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

OMIKAMI LIMITED

OMIKAMI LIMITED (REGISTERED NUMBER: 14419269)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OMIKAMI LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: J A Smart





REGISTERED OFFICE: 11a Sydenham Hill
London
SE26 6SH





REGISTERED NUMBER: 14419269 (England and Wales)





ACCOUNTANTS: Galloways Accounting Limited
15 West Street
Brighton
East Sussex
BN1 2RL

OMIKAMI LIMITED (REGISTERED NUMBER: 14419269)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 4,000,000 2,841,942

CURRENT ASSETS
Debtors 5 686,654 377,881
Cash at bank and in hand 2,166 1
688,820 377,882
CREDITORS
Amounts falling due within one year 6 (272,247 ) (3,221,035 )
NET CURRENT ASSETS/(LIABILITIES) 416,573 (2,843,153 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,416,573 (1,211 )

CREDITORS
Amounts falling due after more than one year 7 (3,565,000 ) -

PROVISIONS FOR LIABILITIES (287,938 ) -
NET ASSETS/(LIABILITIES) 563,635 (1,211 )

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 863,813 -
Retained earnings (300,179 ) (1,212 )
563,635 (1,211 )

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 director acknowledges his 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.

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

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

The financial statements were approved by the director and authorised for issue on 26 June 2025 and were signed by:





J A Smart - Director


OMIKAMI LIMITED (REGISTERED NUMBER: 14419269)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Omikami Limited 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.

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 as modified by the revaluation of certain assets.

Going concern
The company manages it cash flow as part of a group, and in addition to the finance raised within the company, it is also reliant on finance provided by other group companies. The director has reviewed the group finance facilities and the expected cash flow for the group and has a reasonable expectation that the company has adequate resources to continue to operate for the foreseeable future.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The fair value is based on a valuation carried out by the director at each accounting reference date.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets
Basic financial assets are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting its liabilities.

Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Financial liabilities classified as payable within one year are not amortised.

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.

3. EMPLOYEES

The average number of employees during the year was NIL (2023 - NIL).

OMIKAMI LIMITED (REGISTERED NUMBER: 14419269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 2,841,942
Additions 6,307
Revaluations 1,151,751
At 30 June 2024 4,000,000
NET BOOK VALUE
At 30 June 2024 4,000,000
At 30 June 2023 2,841,942

If investment properties had not been revalued, they would have been included at the historical cost £2,848,249 (2023: £2,841,942).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 686,654 -
Other debtors - 377,881
686,654 377,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 75,948 172,951
Other creditors 196,299 3,048,084
272,247 3,221,035

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 3,565,000 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 3,565,000 -

The loan is part of a group facility with fellow group companies, Hera Walk Limited, Izanami Limited, Sapphire Laundry Limited and Nord 2 Limited, secured against the properties owned by these entities. The lender also has a personal guarantee from the director and a subordination agreement with fellow group companies. The company is liable to a cross guarantee of £9,053,378.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Urban Eye Properties Limited, of which the registered office is 11a Sydenham Hill, London, SE26 6SH.