Company Registration No. 06342734 (England and Wales)
OMDA EMERGENCY UK LIMITED
PREVIOUSLY KNOWN AS CSAM OPTIMA UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
Celixir House
Stratford Business & Technology Park
Innovation Way, Banbury Road
Stratford-upon-Avon
Warwickshire
United Kingdom
CV37 7GZ
OMDA EMERGENCY UK LIMITED
PREVIOUSLY KNOWN AS CSAM OPTIMA UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
OMDA EMERGENCY UK LIMITED
PREVIOUSLY KNOWN AS CSAM OPTIMA UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,209
2,022
Current assets
Debtors
5
301,742
254,469
Cash at bank and in hand
993,267
916,935
1,295,009
1,171,404
Creditors: amounts falling due within one year
6
(1,232,623)
(985,513)
Net current assets
62,386
185,891
Net assets
66,595
187,913
Capital and reserves
Called up share capital
1
1
Other reserves
369,936
369,936
Profit and loss reserves
(303,342)
(182,024)
Total equity
66,595
187,913

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 21 March 2024 and are signed on its behalf by:
Mr E T Bonnevie
Director
Company Registration No. 06342734
OMDA EMERGENCY UK LIMITED
PREVIOUSLY KNOWN AS CSAM OPTIMA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Omda Emergency UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Omda Emergency UK Limited at work life, The White Building, 33 Kings Road, Reading, Berkshire, England, RG 1 3AR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Omda AS. These consolidated financial statements are available from its head office office, Drammensveien 288, 0238 Oslo, Norway.

OMDA EMERGENCY UK LIMITED
PREVIOUSLY KNOWN AS CSAM OPTIMA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.

 

We draw your attention to note 1.2 in the financial statements which indicates that the Company has incurred a net loss after tax of £121,317 during the year ended 31 December 2023 (2022: £175,934) and, as of that date, the company had net assets of £66,595 (2022: £187,913). These conditions indicate the existence of a material uncertainty which may cast significant doubt about the Company’s ability to continue as a going concern. The company has the support of its parent to enable it to continue as a going concern.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

IT Equipment
3 years straight line

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and bank balances.

OMDA EMERGENCY UK LIMITED
PREVIOUSLY KNOWN AS CSAM OPTIMA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

OMDA EMERGENCY UK LIMITED
PREVIOUSLY KNOWN AS CSAM OPTIMA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

OMDA EMERGENCY UK LIMITED
PREVIOUSLY KNOWN AS CSAM OPTIMA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

Stage of completion

The percentage of completion method is used to determine the appropriate amount of revenue to be recognised in a given period in respect of implementation, licencing and consultancy projects. The stage of completion is measured by calculating the amount of time spent on a given project to date as a proportion of the total time costs expected to be incurred on that project. this required judgement in respect of the expected total time that is required to complete each project currently in progress.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
7
OMDA EMERGENCY UK LIMITED
PREVIOUSLY KNOWN AS CSAM OPTIMA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
88,726
Additions
3,496
At 31 December 2023
92,222
Depreciation and impairment
At 1 January 2023
86,704
Depreciation charged in the year
1,309
At 31 December 2023
88,013
Carrying amount
At 31 December 2023
4,209
At 31 December 2022
2,022
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
277,626
154,427
Other debtors
24,116
100,042
301,742
254,469
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,267
11,594
Amounts owed to group undertakings
905,298
650,571
Taxation and social security
48,654
25,384
Other creditors
277,404
297,964
1,232,623
985,513
OMDA EMERGENCY UK LIMITED
PREVIOUSLY KNOWN AS CSAM OPTIMA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Mark Bullock FCA and the auditor was TC Group.
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
36,960
35,992
9
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10
Parent company

The immediate parent company is Omda Emergency (NZ) Limited, a company incorporated in New Zealand, which owns 100% of the share capital of the company.

 

The ultimate parent company is Omda AS, a company incorporated in Norway.

 

Omda AS is the smallest and largest company for which consolidated accounts including Omda Emergency UK Limited are prepared. The consolidated accounts are available from its head office at Drammensveien 288, 0238 Oslo, Norway.

2023-12-312023-01-01false21 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedMr Einar T BonnevieMr Sverre Flatbyfalse063427342023-01-012023-12-31063427342023-12-31063427342022-12-3106342734core:OtherPropertyPlantEquipment2023-12-3106342734core:OtherPropertyPlantEquipment2022-12-3106342734core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3106342734core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3106342734core:CurrentFinancialInstruments2023-12-3106342734core:CurrentFinancialInstruments2022-12-3106342734core:ShareCapital2023-12-3106342734core:ShareCapital2022-12-3106342734core:OtherMiscellaneousReserve2023-12-3106342734core:OtherMiscellaneousReserve2022-12-3106342734core:RetainedEarningsAccumulatedLosses2023-12-3106342734core:RetainedEarningsAccumulatedLosses2022-12-3106342734bus:Director12023-01-012023-12-31063427342022-01-012022-12-3106342734core:OtherPropertyPlantEquipment2022-12-3106342734core:OtherPropertyPlantEquipment2023-01-012023-12-3106342734core:WithinOneYear2023-12-3106342734core:WithinOneYear2022-12-3106342734bus:PrivateLimitedCompanyLtd2023-01-012023-12-3106342734bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106342734bus:FRS1022023-01-012023-12-3106342734bus:Audited2023-01-012023-12-3106342734bus:Director22023-01-012023-12-3106342734bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP