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Registration number: 07085644

Omnia Multilingual Solutions Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

Omnia Multilingual Solutions Limited

Contents

Company Information

1

Directors' Report

2

Abridged Statement Financial Position

3

Statement of Changes in Equity

4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Omnia Multilingual Solutions Limited

Company Information

Directors

Cesarino Zanni

Gerald Brian Taylor

Company secretary

Lincoln Secretaries Limited

Registered office

Third Floor East
12 Bridewell Place
London
EC4V 6AP

Bankers

HSBC Bank Plc
City of London Branch
60 Queen Victoria Street
London
EC4N 4TR

 

Omnia Multilingual Solutions Limited

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the abridged financial statements for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

Cesarino Zanni

Gerald Brian Taylor

Principal activity

The principal activity of the company is that of translation services.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

.........................................
Lincoln Secretaries Limited
Company secretary

 

Omnia Multilingual Solutions Limited

(Registration number: 07085644)
Abridged Statement Financial Position as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

134,205

111,013

Cash at bank and in hand

 

48,106

58,433

 

182,311

169,446

Prepayments and accrued income

 

2,024

1,493

Creditors: Amounts falling due within one year

(172,913)

(160,495)

Total assets less current liabilities

 

11,422

10,444

Accruals and deferred income

 

(1,155)

(1,212)

Net assets

 

10,267

9,232

Capital and reserves

 

Called up share capital

10,000

10,000

Retained earnings

267

(768)

Shareholders' funds

 

10,267

9,232

For the financial year ending 31 December 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.

All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

.........................................
Gerald Brian Taylor
Director

 

Omnia Multilingual Solutions Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

10,000

(768)

9,232

Profit for the year

-

1,035

1,035

At 31 December 2023

10,000

267

10,267

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

10,000

(3,374)

6,626

Profit for the year

-

2,606

2,606

At 31 December 2022

10,000

(768)

9,232

 

Omnia Multilingual Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Third Floor East
12 Bridewell Place
London
EC4V 6AP

These financial statements were authorised for issue by the Board on 18 September 2024.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis, subject to the continuing support of the shareholders.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Omnia Multilingual Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the statement financial position 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:
25% RBM.

Asset class

Depreciation method and rate

Office equipment

25% RBM

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 income statement 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.

 

Omnia Multilingual Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Omnia Multilingual Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

4

Related party transactions

Summary of transactions with other related parties

Included in other debtors is an interest-free unsecured loan of £8,588 (2022: £8,700) due from shareholders, repayment date of which is unspecified.