Silverfin false 31/03/2022 31/03/2022 01/04/2021 C Aplin 17/03/2014 D French 23/06/2021 27 July 2022 The principal activity of the company is a holding company for its trading subsidiary Ocmis Limited. 08940956 2022-03-31 08940956 bus:Director1 2022-03-31 08940956 bus:Director2 2022-03-31 08940956 2021-03-31 08940956 core:CurrentFinancialInstruments 2022-03-31 08940956 core:CurrentFinancialInstruments 2021-03-31 08940956 core:ShareCapital 2022-03-31 08940956 core:ShareCapital 2021-03-31 08940956 core:RetainedEarningsAccumulatedLosses 2022-03-31 08940956 core:RetainedEarningsAccumulatedLosses 2021-03-31 08940956 core:CostValuation 2021-03-31 08940956 core:CostValuation 2022-03-31 08940956 core:ProvisionsForImpairmentInvestments 2021-03-31 08940956 core:ProvisionsForImpairmentInvestments 2022-03-31 08940956 2021-04-01 2022-03-31 08940956 bus:FullAccounts 2021-04-01 2022-03-31 08940956 bus:SmallEntities 2021-04-01 2022-03-31 08940956 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 08940956 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 08940956 bus:Director1 2021-04-01 2022-03-31 08940956 bus:Director2 2021-04-01 2022-03-31 08940956 2020-04-01 2021-03-31 iso4217:GBP xbrli:pure

Company No: 08940956 (England and Wales)

OCMIS (HOLDINGS) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2022
Pages for filing with the registrar

OCMIS (HOLDINGS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2022

Contents

OCMIS (HOLDINGS) LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2022
OCMIS (HOLDINGS) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2022
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
OCMIS (HOLDINGS) LIMITED

BALANCE SHEET

As at 31 March 2022
OCMIS (HOLDINGS) LIMITED

BALANCE SHEET (continued)

As at 31 March 2022
Note 2022 2021
£ £
Fixed assets
Investment property 3 1,129,243 1,129,243
Investments 4 90 90
1,129,333 1,129,333
Current assets
Debtors 5 10,000 25,000
Cash at bank and in hand 152,763 98,405
162,763 123,405
Creditors
Amounts falling due within one year 6 ( 13,096) ( 16,566)
Net current assets 149,667 106,839
Total assets less current liabilities 1,279,000 1,236,172
Net assets 1,279,000 1,236,172
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,278,900 1,236,072
Total shareholder's funds 1,279,000 1,236,172

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ocmis (Holdings) Limited (registered number: 08940956) were approved and authorised for issue by the Board of Directors on 27 July 2022. They were signed on its behalf by:

C Aplin
Director
OCMIS (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
OCMIS (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Turnover

Turnover represents rents receivable in relation to investment properties which is recognised in the period of occupation of the property by the tenant. Turnover is shown net of sales/value added tax and rebates.

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.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Fixed asset investments

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

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

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.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 1

3. Investment property

Investment property
£
Valuation
As at 01 April 2021 1,129,243
As at 31 March 2022 1,129,243

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.

4. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 April 2021 90 90
At 31 March 2022 90 90
Provisions for impairment
At 01 April 2021 0 0
At 31 March 2022 0 0
Carrying value at 31 March 2022 90 90
Carrying value at 31 March 2021 90 90

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.

5. Debtors

2022 2021
£ £
Trade debtors 10,000 25,000

6. Creditors: amounts falling due within one year

2022 2021
£ £
Other creditors 550 550
Corporation tax 10,046 10,183
Other taxation and social security 2,500 5,833
13,096 16,566

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2022 2021
£ £
Amounts receivable from subsidiary - Ocmis Ltd 10,000 25,000