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Company Registration No. 11143116 (England and Wales)
OMEGA 741 LTD Unaudited accounts for the year ended 31 January 2024
OMEGA 741 LTD Unaudited accounts Contents
Page
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OMEGA 741 LTD Company Information for the year ended 31 January 2024
Director
Dr E Facco
Company Number
11143116 (England and Wales)
Registered Office
Capshire Uk Llp Castle Court 41 London Road Reigate Surrey RH2 9RJ England
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OMEGA 741 LTD Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investments
1,197,755 
1,000 
Current assets
Debtors
- 
1,245,880 
Cash at bank and in hand
431 
504 
431 
1,246,384 
Creditors: amounts falling due within one year
(5,041)
(14,831)
Net current (liabilities)/assets
(4,610)
1,231,553 
Total assets less current liabilities
1,193,145 
1,232,553 
Creditors: amounts falling due after more than one year
(1,306,004)
(1,254,878)
Net liabilities
(112,859)
(22,325)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(112,860)
(22,326)
Shareholders' funds
(112,859)
(22,325)
For the year ending 31 January 2024 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 director acknowledges her 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 and authorised for issue on 20 October 2024 and were signed on its behalf by
Dr E Facco Director Company Registration No. 11143116
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OMEGA 741 LTD Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
OMEGA 741 LTD is a private company, limited by shares, registered in England and Wales, registration number 11143116. The registered office is Capshire Uk Llp, Castle Court, 41 London Road, Reigate, Surrey, RH2 9RJ, England.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
Cash and cash equivalents
Cash and cash equivalents 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.
Financial instruments
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. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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OMEGA 741 LTD Notes to the Accounts for the year ended 31 January 2024
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
4
Investments
Subsidiary undertakings 
£ 
Valuation at 1 February 2023
1,000 
Additions
1,196,755 
Valuation at 31 January 2024
1,197,755 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
- 
1,245,880 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
1,800 
11,588 
Other creditors
3,241 
3,243 
5,041 
14,831 
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OMEGA 741 LTD Notes to the Accounts for the year ended 31 January 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,306,004 
1,254,878 
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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