Omniball Limited 07044896 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of a parent company. Digita Accounts Production Advanced 6.30.9574.0 true true false 07044896 2023-03-01 2024-02-29 07044896 2024-02-29 07044896 core:ShareCapital 2024-02-29 07044896 bus:SmallEntities 2023-03-01 2024-02-29 07044896 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07044896 bus:FullAccounts 2023-03-01 2024-02-29 07044896 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07044896 bus:RegisteredOffice 2023-03-01 2024-02-29 07044896 bus:Director1 2023-03-01 2024-02-29 07044896 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07044896 core:Subsidiary1 2023-03-01 2024-02-29 07044896 core:Subsidiary2 2023-03-01 2024-02-29 07044896 countries:EnglandWales 2023-03-01 2024-02-29 07044896 2022-03-01 2023-02-28 07044896 2023-02-28 07044896 core:ShareCapital 2023-02-28 07044896 core:Subsidiary1 2022-03-01 2023-02-28 07044896 core:Subsidiary2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 07044896

Prepared for the registrar

Omniball Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Omniball Limited

(Registration number: 07044896)
Balance Sheet as at 29 February 2024

Note

2024
 £

2023
 £

Fixed assets

 

Investments

4

105

105

Capital and reserves

 

Called up share capital

105

105

Total equity

 

105

105

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 November 2024
 

J Cabrini-Dale
Director

   
     
 

Omniball Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

 

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:
Rodborough Court
Walkley Hill
Rodborough
Stroud
Gloucestershire
GL5 3LR

 

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 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 financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

 

Omniball Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

Judgements

No significant judgements have been made by management in preparing these financial statements.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

Omniball Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Omniball Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

 

4

Investments

2024
£

2023
£

Investments in subsidiaries

105

105

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Autoset (Production) Limited

Ordinary

100%

100%

         

Omnitrack North America Limited

Ordinary

100%

100%

         

The aggregate amount of capital and reserves of Autoset (Production) Limited at the end of the period was £3,911,845.

The aggregate amount of capital and reserves of Omnitrack North America Limited at the end of the period was £414,847.