Registered number
08439604
OMAR YANNI LTD
Filleted Accounts
31 March 2023
OMAR YANNI LTD
Registered number: 08439604
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,667 -
Current assets
Debtors 4 72,591 99,877
Cash at bank and in hand 339,334 197,090
411,925 296,967
Creditors: amounts falling due within one year 5 (54,858) (56,378)
Net current assets 357,067 240,589
Net assets 358,733 240,589
Capital and reserves
Called up share capital 94 94
Profit and loss account 358,639 240,495
Shareholders' funds 358,733 240,589
The directors are 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 directors acknowledge their 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.
Omar Nicolas Yanni
Director
Approved by the board on 18 December 2023
OMAR YANNI LTD
Notes to the Accounts
for the year ended 31 March 2023
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 under the cost model are stated at historical cost less accumulated
depreciation and any accumulated impairment losses. Historical cost includes expenditure that is
directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their
estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Computer Equipment 25%
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted
prospectively if appropriate, or if there is an indication of a significant change since the last reporting
date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount
and are recognised in profit or loss.
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
Tax is recognised in profit or loss except that a charge attributable to an item of income and
expense recognised as other comprehensive income or to an item recognised directly in equity is
also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been
enacted or substantively enacted by the balance sheet date in the countries where the Company
operates and generates income.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 1,667
At 31 March 2023 1,667
Depreciation
At 31 March 2023 -
Net book value
At 31 March 2023 1,667
4 Debtors 2023 2022
£ £
Trade debtors 34,054 37,590
Other debtors 38,537 62,287
72,591 99,877
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 561 -
Taxation and social security costs 54,297 55,118
Other creditors - 1,260
54,858 56,378
6 Transactions with directors
As at the balance sheet date, the directors owed the company £14,604 (2022: £38,803) which is included in other debtors. Further, £14,604 was paid back within the 9 months after the year-end.
7 Other information
OMAR YANNI LTD is a private company limited by shares and incorporated in England. Its registered office is:
C/O Wis Accountancy Ltd
4 Imperial Place
Maxwell Road
Borehamwood
WD6 1JN
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