Registered number
08720865
Omer Consulting Limited
Filleted Accounts
31 October 2022
Omer Consulting Limited
Registered number: 08720865
Balance Sheet
as at 31 October 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 66,032 5,828
Investments 4 75 -
66,107 5,828
Current assets
Debtors 5 36,874 2,441
Cash at bank and in hand 30,881 67,801
67,755 70,242
Creditors: amounts falling due within one year 6 (28,983) (31,287)
Net current assets 38,772 38,955
Total assets less current liabilities 104,879 44,783
Creditors: amounts falling due after more than one year 7 (104,245) (42,593)
Net assets 634 2,190
Capital and reserves
Called up share capital 100 100
Profit and loss account 534 2,090
Shareholders' funds 634 2,190
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Omer Mir
Director
Approved by the board on 23 October 2023
Omer Consulting Limited
Notes to the Accounts
for the year ended 31 October 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicle over 5 years
Office equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Office equipment Motor vehicles Total
£ £ £
Cost
At 1 November 2021 9,687 - 9,687
Additions 791 81,424 82,215
At 31 October 2022 10,478 81,424 91,902
Depreciation
At 1 November 2021 3,859 - 3,859
Charge for the year 1,655 20,356 22,011
At 31 October 2022 5,514 20,356 25,870
Net book value
At 31 October 2022 4,964 61,068 66,032
At 31 October 2021 5,828 - 5,828
4 Investments
Other
investments
£
Cost
Additions 75
At 31 October 2022 75
5 Debtors 2022 2021
£ £
Other debtors 36,874 2,441
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 5,556 5,556
Obligations under finance lease and hire purchase contracts 10,746 -
Trade creditors 2,460 -
Taxation and social security costs 9,251 19,494
Other creditors 970 6,237
28,983 31,287
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 37,037 42,593
Obligations under finance lease and hire purchase contracts 31,343 -
Other creditors 35,865 -
104,245 42,593
8 Other information
Omer Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
311 Regents Park Road
London
N3 1DP
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