The sale of the historic Hatherlow Sunday School building by the United Reformed Church (URC) did not appear to include specific restrictions on its future development. The church cleared out the Sunday School hall prior to its sale and focused on plans to improve facilities within the church to meet the needs of the congregation and community.
Subsequently, the building was sold to OMD Properties Ltd, who proposed converting it into 11 residential apartments. They are based here.
2 officers / 1 resignation
DAVY, Jason Martin
Correspondence address Holly Grange, 36, Church Lane, Bardsey, West Yorkshire, United Kingdom, LS17 9DP Role Active Director Date of birth August 1970 Appointed on 25 January 2021 Nationality British Country of residence United Kingdom Occupation Director
DAVY, Gillian Mary
Correspondence address Holly Grange, 36, Church Lane, Bardsey, West Yorkshire, United Kingdom, LS17 9DP
Role Resigned Director Date of birth February 1971 Appointed on 25 January 2021 Resigned on 8 March 2023 Nationality British Country of residence United Kingdom Occupation Director
Filter charges
Filter charges
Outstanding / part satisfied 9 charges
Registered 9 outstanding, 0 satisfied, 0 part satisfied
Charge code 1315 4054 0009
Satisfy charge1315 4054 0009 on the Companies House WebFiling service
Created 8 May 2025
Delivered29 May 2025
Status Outstanding
Persons entitled
- Yorkshire Building Society
Brief description
Flat 4, velocity east, 4 city walk, leeds LS11 9BF, title…
Charge code 1315 4054 0008
Satisfy charge1315 4054 0008 on the Companies House WebFiling service
Created18 December 2024
Delivered19 December 2024
Status Outstanding
Persons entitled
- Yorkshire Building Society
Brief description
Units 17 and 18 progress business park, 55 progress road…
Charge code 1315 4054 0007
Satisfy charge1315 4054 0007 on the Companies House WebFiling service
Created8 December 2022
Delivered12 December 2022
Status Outstanding
Persons entitled
- Paragon Bank PLC
Brief description
50 cemetery road normanton WF6 2EW.
Charge code 1315 4054 0006
Satisfy charge1315 4054 0006 on the Companies House WebFiling service
Created16 September 2022
Delivered16 September 2022
Status Outstanding
Persons entitled
- Topaz Finance Limited
Brief description
169A bradford road wakefield west yorkshire WF1 2AS.
Charge code 1315 4054 0005
Satisfy charge1315 4054 0005 on the Companies House WebFiling service
Created19 August 2022
Delivered30 August 2022
Status Outstanding
Persons entitled
- Topaz Finance Limited
Brief description
169 bradford road wakefield west yorkshire WF1 2AS.
Charge code 1315 4054 0004
Satisfy charge1315 4054 0004 on the Companies House WebFiling service
Created19 August 2022
Delivered19 August 2022
Status Outstanding
Persons entitled
- Topaz Finance Limited
Brief description
171 bradford road wakefield WF1 2AS.
Charge code 1315 4054 0003
Satisfy charge1315 4054 0003 on the Companies House WebFiling service
Created 4 March 2022
Delivered15 March 2022
Status Outstanding
Persons entitled
- Fleet Mortgages Limited
Brief description
22 fox street, rotherham S61 2NN…
Charge code 1315 4054 0002
Satisfy charge1315 4054 0002 on the Companies House WebFiling service
Created14 February 2022
Delivered14 February 2022
Status Outstanding
Persons entitled
- Paragon Bank PLC
Brief description
Legal charge over 50 cemetery road normanton WF6 2EW…
Charge code 1315 4054 0001
Satisfy charge1315 4054 0001 on the Companies House WebFiling service
Created27 September 2021
Delivered29 September 2021
StatusOutstanding
Persons entitled
- Shawbrook Bank Limited
Brief description
Freehold property known as 21 berners street, wakefield…
https://find-and-update.company-information.service.gov.uk/company/13154054/filing-history
Latest filed accounts –
Let’s carefully analyze the balance sheet for OMD Properties Ltd as at 31 January 2024. I’ll break it down step by step and highlight key points.
1. Fixed Assets
| Category | 2024 (£) | 2023 (£) |
|---|---|---|
| Investment property | 2,415,162 | 2,415,162 |
| Investments | 27 | — |
| Total Fixed Assets | 2,415,189 | 2,415,162 |
- The company holds substantial investment property.
- Minimal change in total fixed assets year-on-year (only £27 increase in “Investments”).
2. Current Assets
| Category | 2024 (£) | 2023 (£) |
|---|---|---|
| Debtors | 297,172 | 200,151 |
| Cash at bank | 12,731 | 237,251 |
| Total Current Assets | 309,903 | 437,402 |
- Debtors have increased by ~£97k, which could indicate more receivables (rent due, loans, or other).
- Cash has dropped sharply from £237k to £13k. This is notable — likely used for property expenses, development costs, or debt repayment.
3. Current Liabilities
| Category | 2024 (£) | 2023 (£) |
|---|---|---|
| Creditors: amounts falling due within one year | 1,456,354 | 1,654,635 |
| Net Current Liabilities | (1,146,451) | (1,217,233) |
- Current liabilities are very high relative to current assets.
- Net current liabilities have improved slightly (~£71k), but still indicate short-term liquidity pressure.
4. Total Assets Less Current Liabilities
| 2024 (£) | 2023 (£) |
|---|---|
| 1,268,738 | 1,197,929 |
- The company is still asset-rich, primarily due to investment property.
5. Long-term Liabilities
| Category | 2024 (£) | 2023 (£) |
|---|---|---|
| Creditors: amounts falling due after more than one year | 1,008,628 | 1,008,628 |
- Long-term debt is unchanged.
6. Net Assets
| 2024 (£) | 2023 (£) |
|---|---|
| 260,110 | 189,301 |
- Net assets have increased by ~£71k.
- This is a positive sign, showing retained earnings growth despite low cash balances.
7. Capital and Reserves
| Category | 2024 (£) | 2023 (£) |
|---|---|---|
| Called up share capital | 100 | 100 |
| Profit and loss reserves | 260,010 | 189,201 |
| Total Equity | 260,110 | 189,301 |
- All growth in equity is from profit retention — no new share capital issued.
- Small company in terms of share capital but holds significant property assets.
Key Observations
- Strong property base: Fixed assets dominate the balance sheet, indicating the company’s main value is in property.
- Liquidity risk: Cash is extremely low (£12k) versus current liabilities (£1.46m). This could be risky if short-term obligations become due.
- Leverage: Total debt (current + long-term) ≈ £2.46m vs total assets ≈ £2.72m. The company is highly leveraged, but assets exceed liabilities.
- Profit growth: Net assets increased by ~37% year-on-year, indicating retained profits.
- Investment property likely financed: Given the large long-term and short-term liabilities, the property is probably heavily debt-financed.
Conclusion
OMD Properties Ltd is a property investment company with strong asset backing but high leverage and low cash, which could be a concern for short-term obligations. The increase in net assets is positive, showing profitability. Careful management of cash and debt is critical.
Perfect! Let’s calculate some key financial ratios for OMD Properties Ltd based on the balance sheet you provided. I’ll show the formulas and reasoning step by step.
1. Liquidity Ratios
Current Ratio
Current Ratio=Current AssetsCurrent Liabilities\text{Current Ratio} = \frac{\text{Current Assets}}{\text{Current Liabilities}}Current Ratio=Current LiabilitiesCurrent Assets 2024=309,9031,456,354≈0.21\text{2024} = \frac{309,903}{1,456,354} \approx 0.212024=1,456,354309,903≈0.21 2023=437,4021,654,635≈0.26\text{2023} = \frac{437,402}{1,654,635} \approx 0.262023=1,654,635437,402≈0.26
- Interpretation: Far below 1, meaning the company cannot cover short-term liabilities with current assets. This indicates short-term liquidity stress.
Quick Ratio (Acid Test)
Quick Ratio=Current Assets – InventoriesCurrent Liabilities\text{Quick Ratio} = \frac{\text{Current Assets – Inventories}}{\text{Current Liabilities}}Quick Ratio=Current LiabilitiesCurrent Assets – Inventories
- No inventories reported, so same as current assets:
Quick Ratio 2024=0.21\text{Quick Ratio 2024} = 0.21Quick Ratio 2024=0.21
- Confirms liquidity is very tight.
2. Leverage Ratios
Debt-to-Equity Ratio
Debt-to-Equity=Total LiabilitiesEquity\text{Debt-to-Equity} = \frac{\text{Total Liabilities}}{\text{Equity}}Debt-to-Equity=EquityTotal Liabilities
- Total Liabilities = Current + Long-term = £1,456,354 + £1,008,628 = £2,464,982
- Equity = £260,110
Debt-to-Equity 2024=2,464,982260,110≈9.48\text{Debt-to-Equity 2024} = \frac{2,464,982}{260,110} \approx 9.48Debt-to-Equity 2024=260,1102,464,982≈9.48
- Extremely high. The company has £9.48 of debt for every £1 of equity — very highly leveraged.
Gearing Ratio (Debt / (Debt + Equity))
Gearing=DebtDebt + Equity=2,464,9822,464,982+260,110≈0.904 or 90.4%\text{Gearing} = \frac{\text{Debt}}{\text{Debt + Equity}} = \frac{2,464,982}{2,464,982 + 260,110} \approx 0.904 \text{ or } 90.4\%Gearing=Debt + EquityDebt=2,464,982+260,1102,464,982≈0.904 or 90.4%
- Confirms heavy reliance on debt financing. High financial risk if cash flows drop.
3. Profitability / Performance Indicators
- We don’t have income statement figures here, so we cannot calculate return on assets or return on equity precisely.
- However, Net Assets increased from £189,301 to £260,110, an increase of £70,809. This represents ~37% growth in equity year-on-year.
- This suggests strong retained earnings/profitability relative to equity, but note this is largely asset revaluation or profit retention.
4. Asset Coverage
Asset-to-Debt Ratio
Asset Coverage=Total AssetsTotal Liabilities=2,415,189+309,9032,464,982≈1.10\text{Asset Coverage} = \frac{\text{Total Assets}}{\text{Total Liabilities}} = \frac{2,415,189 + 309,903}{2,464,982} \approx 1.10Asset Coverage=Total LiabilitiesTotal Assets=2,464,9822,415,189+309,903≈1.10
- Slightly above 1, meaning total assets just exceed total debt, mostly due to property value.
- Indicates that the company is asset-backed, but little margin for error if property values decline.
✅ Summary of Financial Health
| Aspect | Observation |
|---|---|
| Liquidity | Very poor (current ratio 0.21), high risk for short-term cash needs |
| Leverage | Extremely high (Debt-to-Equity ≈ 9.48, Gearing 90%), risky structure |
| Profitability | Equity grew ~37% YoY, suggesting retained earnings or revaluation gains |
| Asset Coverage | Just above 1, assets slightly exceed liabilities, but highly leveraged |
| Key Risk | Cash flow is very low (£12k), yet short-term debt is £1.46m |
Overall: OMD Properties Ltd is asset-rich but highly leveraged with very low liquidity. Its strong property base supports debt, but short-term obligations are a serious concern. This structure is typical for property investment companies where long-term asset values underpin financing, but the company is vulnerable if cash inflows (e.g., rent or sales) are delayed.
