Company Registration No. 11680780 (England and Wales)
OMEGA BAAP LIMITED
Unaudited accounts
for the year ended 30 November 2023
OMEGA BAAP LIMITED
Unaudited accounts
Contents
OMEGA BAAP LIMITED
Company Information
for the year ended 30 November 2023
Directors
David Manasyan
Sergey Rossman
Company Number
11680780 (England and Wales)
Registered Office
1 Butterwick
London
W6 8DL
United Kingdom
Accountants
BNA Consulting Services Ltd
One Kingdom Street
Paddington Central
London
W2 6BD
OMEGA BAAP LIMITED
Statement of financial position
as at 30 November 2023
Investments
500,000
500,000
Cash at bank and in hand
496,434
78,665
Creditors: amounts falling due within one year
(257,211)
(323,932)
Net current assets/(liabilities)
355,988
(133,992)
Total assets less current liabilities
859,557
366,008
Creditors: amounts falling due after more than one year
(23,103)
(37,271)
Net assets
836,454
328,737
Called up share capital
13,676
13,676
Share premium
2,352,111
1,322,112
Capital contribution reserve
697,565
697,565
Profit and loss account
(2,226,898)
(1,704,616)
Shareholders' funds
836,454
328,737
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by
David Manasyan
Director
Company Registration No. 11680780
OMEGA BAAP LIMITED
Notes to the Accounts
for the year ended 30 November 2023
OMEGA BAAP LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11680780. The registered office is 1 Butterwick, London, W6 8DL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Other tangible fixed assets
Straight line over 3 years
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.
Basic financial assets, which includes debtors, cash and bank balances, are initially measured a transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement consists a financing transaction, where the transaction is measured at the present valve of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
OMEGA BAAP LIMITED
Notes to the Accounts
for the year ended 30 November 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The tax expenses represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further includes 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.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2022
4,505
-
4,505
At 30 November 2023
4,505
5,023
9,528
At 1 December 2022
4,505
-
4,505
Charge for the year
-
1,454
1,454
At 30 November 2023
4,505
1,454
5,959
At 30 November 2023
-
3,569
3,569
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Investments
Other investments
Valuation at 1 December 2022
500,000
Valuation at 30 November 2023
500,000
OMEGA BAAP LIMITED
Notes to the Accounts
for the year ended 30 November 2023
Amounts falling due within one year
Accrued income and prepayments
4,416
-
Other debtors
111,275
111,275
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
11,361
11,361
Trade creditors
17,705
100,033
Taxes and social security
30,058
134,520
Other creditors
115,076
5,634
Loans from directors
16,600
-
8
Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 3 (2022: 2).