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Company registration number: 09596061

Omega Care Group Ltd

Filleted Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Omega Care Group Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Omega Care Group Ltd

Company Information

Directors

Mr A Aresti

Ms C M Lackenby

Registered office

40-42 Kemble Street
Prescot
L34 5SQ

Accountants

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Omega Care Group Ltd
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Omega Care Group Ltd for the year ended 30 September 2023 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Omega Care Group Ltd, as a body, in accordance with the terms of our engagement letter dated 16 December 2022. Our work has been undertaken solely to prepare for your approval the accounts of Omega Care Group Ltd and state those matters that we have agreed to state to the Board of Directors of Omega Care Group Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Omega Care Group Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Omega Care Group Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Omega Care Group Ltd. You consider that Omega Care Group Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Omega Care Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

28 November 2023

 

Omega Care Group Ltd

(Registration number: 09596061)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

19,935

36,667

Tangible assets

5

1,162,640

1,079,295

 

1,182,575

1,115,962

Current assets

 

Debtors

6

1,609,960

1,015,990

Cash at bank and in hand

 

178,632

328,909

 

1,788,592

1,344,899

Creditors: Amounts falling due within one year

7

(946,656)

(749,355)

Net current assets

 

841,936

595,544

Total assets less current liabilities

 

2,024,511

1,711,506

Creditors: Amounts falling due after more than one year

7

(553,315)

(569,412)

Provisions for liabilities

(100,771)

(45,975)

Net assets

 

1,370,425

1,096,119

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,370,325

1,096,019

Shareholders' funds

 

1,370,425

1,096,119

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Omega Care Group Ltd

(Registration number: 09596061)
Balance Sheet as at 30 September 2023

Approved and authorised by the Board on 28 November 2023 and signed on its behalf by:
 

.........................................
Mr A Aresti
Director

 

Omega Care Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
40-42 Kemble Street
Prescot
L34 5SQ
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Government grants

Government grants are accounted for using the accruals model under FRS102. Government grants, in respect of the Coronavirus Job Retention Scheme, are included in the period to which the grant relates.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Omega Care Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

2% straight line

Household assets

25% straight line

Furniture and fixtures

25% straight line

Motor vehicles

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software development

33% straight line

 

Omega Care Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 100 (2022 - 91).

 

Omega Care Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 October 2022

55,000

55,000

Additions acquired separately

2,402

2,402

At 30 September 2023

57,402

57,402

Amortisation

At 1 October 2022

18,333

18,333

Amortisation charge

19,134

19,134

At 30 September 2023

37,467

37,467

Carrying amount

At 30 September 2023

19,935

19,935

At 30 September 2022

36,667

36,667

 

Omega Care Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Tangible assets

Land and buildings
£

Household Assets
£

Fixtures and fittings
£

Motor vehicles
 £

Cost or valuation

At 1 October 2022

901,506

163,814

102,164

167,252

Additions

-

40,065

100,083

136,540

Disposals

-

(159)

-

(69,990)

At 30 September 2023

901,506

203,720

202,247

233,802

Depreciation

At 1 October 2022

26,105

107,375

74,817

47,144

Charge for the year

18,030

31,831

36,306

54,565

Eliminated on disposal

-

(40)

-

(17,498)

At 30 September 2023

44,135

139,166

111,123

84,211

Carrying amount

At 30 September 2023

857,371

64,554

91,124

149,591

At 30 September 2022

875,401

56,439

27,347

120,108

Total
£

Cost or valuation

At 1 October 2022

1,334,736

Additions

276,688

Disposals

(70,149)

At 30 September 2023

1,541,275

Depreciation

At 1 October 2022

255,441

Charge for the year

140,732

Eliminated on disposal

(17,538)

At 30 September 2023

378,635

Carrying amount

At 30 September 2023

1,162,640

At 30 September 2022

1,079,295

 

Omega Care Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Debtors

2023
£

2022
£

Trade debtors

859,087

370,258

Other debtors

750,873

645,732

1,609,960

1,015,990

 

Omega Care Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

41,800

46,800

Trade creditors

 

111,646

22,313

Corporation tax

 

261,060

352,922

Other creditors

 

532,150

327,320

 

946,656

749,355

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

553,315

569,412

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

509,447

523,200

Other borrowings

43,868

46,212

553,315

569,412

2023
£

2022
£

Current loans and borrowings

Bank borrowings

41,800

46,800

Other borrowings are secured against the properties to which they relate

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £146,991 (2022 - £132,668).

 

Omega Care Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

10

Related party transactions

Transactions with directors

2023

At 1 October 2022
£

Repayments by director
£

At 30 September 2023
£

Mr A Aresti

Directors Loan Account

265,889

(265,889)

-

       
     

 

2022

At 1 October 2021
£

Advances to director
£

Repayments by director
£

At 30 September 2022
£

Mr A Aresti

Directors Loan Account

407,295

139,694

(281,100)

265,889

         
       

 

The above loan is unsecured, interest free and repayable on demand. All the figures are disclosed on an aggregate basis. The loan was repaid shortly after the year end.