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OAKTREE PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Oaktree Property Company Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, UB8 2FX.
The company is a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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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 company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis notwithstanding that at the reporting date the company has net liabilities of £2,139,448 (2023 - £2,135,908) which indicates that the company may not be a going concern.
The beneficial owner is the principal provider of funding. At the reporting date, the amount owed to the beneficial owner was £6,815,516 (2023 - £6,581,223) and they have confirmed that they will not seek repayment of this loan until such time as the company has sufficient funds to do so. They have also confirmed that they will provide additional funding as required to enable the Company to meet its financial obligations as they fall due for a period of at least 12 months from the date of approving these accounts. Based on the above, the directors consider that the preparation of the financial statements on the going concern basis is appropriate.
Investments held as fixed assets are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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