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REGISTERED NUMBER: 14055614 (England and Wales)












OMEGA ELECTRICAL (NORTH WEST) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






OMEGA ELECTRICAL (NORTH WEST) LTD (REGISTERED NUMBER: 14055614)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


OMEGA ELECTRICAL (NORTH WEST) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: A N Fairclough
G Richardson





REGISTERED OFFICE: 11 Barrow Close
Whitehills
Blackpool
FY4 5PS





REGISTERED NUMBER: 14055614 (England and Wales)





ACCOUNTANTS: Rushtons
Chartered Accountants
Avroe House
Avroe Crescent
Blackpool Business Park
Blackpool
Lancashire
FY4 2DP

OMEGA ELECTRICAL (NORTH WEST) LTD (REGISTERED NUMBER: 14055614)

ABRIDGED BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,142 66,852

CURRENT ASSETS
Stocks 142,826 50,501
Debtors 217,381 28,456
Cash at bank 344,122 56,980
704,329 135,937
CREDITORS
Amounts falling due within one year 393,512 43,347
NET CURRENT ASSETS 310,817 92,590
TOTAL ASSETS LESS CURRENT
LIABILITIES

369,959

159,442

CREDITORS
Amounts falling due after more than
one year

(17,090

)

(26,161

)

PROVISIONS FOR LIABILITIES (14,786 ) (12,809 )
NET ASSETS 338,083 120,472

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 337,983 120,372
SHAREHOLDERS' FUNDS 338,083 120,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OMEGA ELECTRICAL (NORTH WEST) LTD (REGISTERED NUMBER: 14055614)

ABRIDGED BALANCE SHEET - continued
30 APRIL 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:




A N Fairclough - Director



G Richardson - Director


OMEGA ELECTRICAL (NORTH WEST) LTD (REGISTERED NUMBER: 14055614)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Omega Electrical (North West) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements are presented in Stirling, which is the functional currency of the company. Monetary values in these financial statements are rounded to the nearest pound.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


OMEGA ELECTRICAL (NORTH WEST) LTD (REGISTERED NUMBER: 14055614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 79,234
Additions 11,846
At 30 April 2024 91,080
DEPRECIATION
At 1 May 2023 12,382
Charge for year 19,556
At 30 April 2024 31,938
NET BOOK VALUE
At 30 April 2024 59,142
At 30 April 2023 66,852

OMEGA ELECTRICAL (NORTH WEST) LTD (REGISTERED NUMBER: 14055614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 25,825 34,896

Hire Purchase balances are secured on the assets to which the contract relates.