IRIS Accounts Production v24.3.0.553 07191670 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071916702023-02-28071916702024-02-29071916702023-03-012024-02-29071916702022-02-28071916702022-03-012023-02-28071916702023-02-2807191670ns15:EnglandWales2023-03-012024-02-2907191670ns14:PoundSterling2023-03-012024-02-2907191670ns10:Director12023-03-012024-02-2907191670ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2907191670ns10:SmallEntities2023-03-012024-02-2907191670ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2907191670ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2907191670ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2907191670ns10:FullAccounts2023-03-012024-02-2907191670ns10:Director22023-03-012024-02-2907191670ns10:RegisteredOffice2023-03-012024-02-2907191670ns5:CurrentFinancialInstruments2024-02-2907191670ns5:CurrentFinancialInstruments2023-02-2807191670ns5:ShareCapital2024-02-2907191670ns5:ShareCapital2023-02-2807191670ns5:RetainedEarningsAccumulatedLosses2024-02-2907191670ns5:RetainedEarningsAccumulatedLosses2023-02-2807191670ns5:PlantMachinery2023-03-012024-02-2907191670ns5:PlantMachinery2023-02-2807191670ns5:MotorVehicles2023-02-2807191670ns5:MotorVehicles2023-03-012024-02-2907191670ns5:PlantMachinery2024-02-2907191670ns5:MotorVehicles2024-02-2907191670ns5:PlantMachinery2023-02-2807191670ns5:MotorVehicles2023-02-2807191670ns5:CostValuation2023-02-2807191670ns5:AdditionsToInvestments2024-02-2907191670ns5:RevaluationsIncreaseDecreaseInInvestments2024-02-2907191670ns5:CostValuation2024-02-2907191670ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2907191670ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2807191670ns5:DeferredTaxation2023-02-2807191670ns5:DeferredTaxation2023-03-012024-02-2907191670ns5:DeferredTaxation2024-02-2907191670ns5:RetainedEarningsAccumulatedLosses2023-02-2807191670ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-29
REGISTERED NUMBER: 07191670 (England and Wales)














OMEGA STEEL BUILDING SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024






OMEGA STEEL BUILDING SOLUTIONS LIMITED (REGISTERED NUMBER: 07191670)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OMEGA STEEL BUILDING SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTORS: Mrs N J Jones
J R Jones





REGISTERED OFFICE: Beauchamp House
402-403 Stourport Road
Kidderminster
Worcestershire
DY11 7BG





REGISTERED NUMBER: 07191670 (England and Wales)

OMEGA STEEL BUILDING SOLUTIONS LIMITED (REGISTERED NUMBER: 07191670)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 124,692 104,315
Investments 5 812,253 809,869
936,945 914,184

CURRENT ASSETS
Debtors 6 1,461,919 920,942
Cash at bank and in hand 578,349 1,105,677
2,040,268 2,026,619
CREDITORS
Amounts falling due within one year 7 635,128 1,162,891
NET CURRENT ASSETS 1,405,140 863,728
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,342,085

1,777,912

PROVISIONS FOR LIABILITIES 8 8,183 5,206
NET ASSETS 2,333,902 1,772,706

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 9 2,333,900 1,772,704
2,333,902 1,772,706

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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 STEEL BUILDING SOLUTIONS LIMITED (REGISTERED NUMBER: 07191670)

BALANCE SHEET - continued
29TH FEBRUARY 2024


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 14th October 2024 and were signed on its behalf by:





J R Jones - Director


OMEGA STEEL BUILDING SOLUTIONS LIMITED (REGISTERED NUMBER: 07191670)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Omega Steel Building Solutions Limited 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 25% on reducing balance

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.

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 7 (2023 - 7 ) .

OMEGA STEEL BUILDING SOLUTIONS LIMITED (REGISTERED NUMBER: 07191670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1st March 2023 - 163,035 163,035
Additions 26,750 68,491 95,241
Disposals - (59,470 ) (59,470 )
At 29th February 2024 26,750 172,056 198,806
DEPRECIATION
At 1st March 2023 - 58,720 58,720
Charge for year 4,012 42,073 46,085
Eliminated on disposal - (30,691 ) (30,691 )
At 29th February 2024 4,012 70,102 74,114
NET BOOK VALUE
At 29th February 2024 22,738 101,954 124,692
At 28th February 2023 - 104,315 104,315

5. FIXED ASSET INVESTMENTS
Other
investments
£
COST OR VALUATION
At 1st March 2023 809,869
Additions 4,574
Revaluations (2,190 )
At 29th February 2024 812,253
NET BOOK VALUE
At 29th February 2024 812,253
At 28th February 2023 809,869

Cost or valuation at 29th February 2024 is represented by:

Other
investments
£
Valuation in 2024 812,253

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 65,434 28,570
Amounts owed by group undertakings 1,396,485 752,079
VAT - 140,293
1,461,919 920,942

OMEGA STEEL BUILDING SOLUTIONS LIMITED (REGISTERED NUMBER: 07191670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 400,871 622,695
Tax 43,324 350,621
Social security and other taxes 7,513 3,275
VAT 57,201 -
Other creditors 126,219 186,300
635,128 1,162,891

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 8,183 5,206

Deferred tax
£
Balance at 1st March 2023 5,206
Provided during year 2,977
Balance at 29th February 2024 8,183

9. RESERVES
Retained
earnings
£

At 1st March 2023 1,772,704
Profit for the year 561,196
At 29th February 2024 2,333,900

10. RELATED PARTY DISCLOSURES

Dividends of £Nil (2023 £1,500,000) were paid to Omega SB Holdings Limited the holding company of Omega Steel Building Solutions Limited.

Management charges of £313,497 (2013 £Nil) were paid to Omega SB Holdings Limited the holding company of Omega Steel Building Solutions Limited.

At the year end £1,396,485 (2023 £752,079) was owed by Omega SB Holdings Limited.