2022-04-012023-03-312023-03-31false09485905OMAMA TECHNOLOGIES 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OMAMA TECHNOLOGIES LIMITED

Registered Number
09485905
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

OMAMA TECHNOLOGIES LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

ADORNI, Enrica
OPL, Claudio

Registered Address

Linen Hall 162-168 Regent Street Room 252-254
London
W1B 5TB

Registered Number

09485905 (England and Wales)
OMAMA TECHNOLOGIES LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets72,7443,079
Investments8149,874223,874
152,618226,953
Current assets
Debtors1079,529108,212
Cash at bank and on hand144,394225,515
223,923333,727
Creditors amounts falling due within one year11(35,013)(84,090)
Net current assets (liabilities)188,910249,637
Total assets less current liabilities341,528476,590
Creditors amounts falling due after one year12-(60,000)
Net assets341,528416,590
Capital and reserves
Called up share capital100100
Profit and loss account341,428416,490
Shareholders' funds341,528416,590
The financial statements were approved and authorised for issue by the Board of Directors on 25 October 2023, and are signed on its behalf by:
ADORNI, Enrica
Director
OPL, Claudio
Director

Registered Company No. 09485905
OMAMA TECHNOLOGIES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of preparing documentation and regulatory reports for pharmaceutical industries.
4.Basis of measurement used in financial statements
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).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
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.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year21
7.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 April 2216,32116,321
Additions3,0943,094
At 31 March 2319,41519,415
Depreciation and impairment
At 01 April 2213,24213,242
Charge for year3,4293,429
At 31 March 2316,67116,671
Net book value
At 31 March 232,7442,744
At 31 March 223,0793,079
8.Fixed asset investments

Loans to groups1

Total

££
Cost or valuation
At 01 April 22223,874223,874
Disposals(74,000)(74,000)
At 31 March 23149,874149,874
Net book value
At 31 March 23149,874149,874
At 31 March 22223,874223,874

Notes

1Loans to group undertakings and participating interests
9.Description of nature of transactions and balances with related parties
During previous periods, Omama Technologies Ltd loaned money (£74,000) to another company under the same common control. The loanee now does not have the capacity to repay the loan. The loan of £74,000 has been written off accordingly. This bad debt write-off is not allowable for tax purposes and has no impact on any corporation tax charge.
10.Debtors

2023

2022

££
Trade debtors / trade receivables79,42943,474
Other debtors1004,738
Amounts owed by group undertakings (Non-current)-60,000
Total79,529108,212
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.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables5,85651,497
Amounts owed to related parties14,28026,295
Taxation and social security11,3554,085
Other creditors1,126-
Accrued liabilities and deferred income2,3962,213
Total35,01384,090
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.
12.Creditors after one year

2023

2022

££
Amounts owed to related parties-60,000
Total-60,000