Company No:
Contents
DIRECTORS | C Aplin |
D French |
REGISTERED OFFICE | Higher Burrow Farm |
Kingsbury Episcopi | |
Martock | |
Somerset | |
TA12 6BU | |
United Kingdom |
COMPANY NUMBER | 08940956 (England and Wales) |
CHARTERED ACCOUNTANTS | Albert Goodman LLP |
Goodwood House | |
Blackbrook Park Avenue | |
Taunton | |
Somerset | |
TA1 2PX |
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 3 |
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Investments | 4 |
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1,129,333 | 1,129,333 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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162,763 | 123,405 | |||
Creditors | ||||
Amounts falling due within one year | 6 | (
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Net current assets | 149,667 | 106,839 | ||
Total assets less current liabilities | 1,279,000 | 1,236,172 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Ocmis (Holdings) Limited (registered number:
C Aplin
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Ocmis (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Higher Burrow Farm, Kingsbury Episcopi, Martock, Somerset, TA12 6BU, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The subsidiary company provides the company with a loan to fund working capital. The company is dependant on the support of the subsidiary company, which has agreed not to request the repayment of the loan unless the company has surplus funds after allowing it to meet its other liabilities. In view of this support, the director considers it appropriate to prepare the financial statements on the going
concern basis.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investment property | |
£ | |
Valuation | |
As at 01 April 2021 |
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As at 31 March 2022 |
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Valuation
The investment property was valued on 31 March 2021 by the director who is internal to the company.
The basis of this valuation was open market value. The historic cost of the investment property is
£1,129,243 (2021 £1,129,243).
There has been no valuation of investment property by an independent valuer.
Other investments | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 01 April 2021 |
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At 31 March 2022 |
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Provisions for impairment | |||
At 01 April 2021 |
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At 31 March 2022 |
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Carrying value at 31 March 2022 |
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Carrying value at 31 March 2021 |
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Details of undertakings (Subsidiary)
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Ocmis Limited - Higher Burrow Farm, Kingsbury Episcopi, Martock, Somerset, TA12 6B - Proportion of voting rights and shares held 100% (2021 - 100%)
Subsidiary undertakings
Ocmis Limited - The principal activity of Ocmis Limited is the supply and installation of irrigation equipment.
2022 | 2021 | ||
£ | £ | ||
Trade debtors |
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2022 | 2021 | ||
£ | £ | ||
Other creditors |
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Corporation tax |
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Other taxation and social security |
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Transactions with entities in which the entity itself has a participating interest
2022 | 2021 | ||
£ | £ | ||
Amounts receivable from subsidiary - Ocmis Ltd | 10,000 | 25,000 |