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REGISTERED NUMBER: 02972784 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

OMEGA ARCHITECTS LIMITED

OMEGA ARCHITECTS LIMITED (REGISTERED NUMBER: 02972784)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OMEGA ARCHITECTS LIMITED

Company Information
for the year ended 31 March 2024







Directors: P J Davies
T A James
J Harman





Registered office: Aissela
46 High Street
Esher
Surrey
KT10 9QY





Registered number: 02972784 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

OMEGA ARCHITECTS LIMITED (REGISTERED NUMBER: 02972784)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 16,901 27,654

Current assets
Debtors 5 564,745 579,802
Cash at bank 347,395 410,664
912,140 990,466
Creditors
Amounts falling due within one year 6 187,789 251,438
Net current assets 724,351 739,028
Total assets less current liabilities 741,252 766,682

Creditors
Amounts falling due after more than one
year

7

15,834

25,833
Net assets 725,418 740,849

Capital and reserves
Called up share capital 9 100 100
Retained earnings 725,318 740,749
Shareholders' funds 725,418 740,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





T A James - Director


OMEGA ARCHITECTS LIMITED (REGISTERED NUMBER: 02972784)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Omega Architects 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The directors have considered the impact of and response to the Covid-19 pandemic, including the company's available resources and ability to adjust the company's operations as required. The company will be able to continue to operate for the foreseeable future.

Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. The financial statements do not include any adjustments to the value of the balance sheet which would result should the going concern basis not be valid.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires
management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is
carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which
ultimately prove to be uncollectable.

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 - 25% on cost

OMEGA ARCHITECTS LIMITED (REGISTERED NUMBER: 02972784)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 13 (2023 - 15 ) .

OMEGA ARCHITECTS LIMITED (REGISTERED NUMBER: 02972784)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Tangible fixed assets
Plant and
machinery
£
Cost
At 1 April 2023
and 31 March 2024 162,104
Depreciation
At 1 April 2023 134,450
Charge for year 10,753
At 31 March 2024 145,203
Net book value
At 31 March 2024 16,901
At 31 March 2023 27,654

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 167,841 201,674
Amounts owed by group undertakings 323,475 322,922
Amounts recoverable on contract 888 3,980
Other debtors 17,030 17,030
Prepayments and accrued income 55,511 34,196
564,745 579,802

6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 32,264 17,694
Tax 604 74,182
Social security and other taxes 20,520 22,009
VAT 73,130 75,630
Other creditors 5,482 5,350
Accruals and deferred income 45,789 46,573
187,789 251,438

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,834 15,833
15,834 25,833

OMEGA ARCHITECTS LIMITED (REGISTERED NUMBER: 02972784)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 51,386 46,983
Between one and five years 195,028 174,000
In more than five years 101,500 141,375
347,914 362,358

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary 1 100 100

10. Related party disclosures

Included in debtors is an amount due from the parent company of £323,475 (2023: £322,922). The balance does not attract interest and is repayable on demand.