2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 10697376 2023-04-01 2024-03-31 10697376 2024-03-31 10697376 2023-03-31 10697376 2022-04-01 2023-03-31 10697376 2023-03-31 10697376 2022-03-31 10697376 core:FurnitureFittings 2023-04-01 2024-03-31 10697376 core:MotorVehicles 2023-04-01 2024-03-31 10697376 bus:Director1 2023-04-01 2024-03-31 10697376 core:FurnitureFittings 2023-03-31 10697376 core:MotorVehicles 2023-03-31 10697376 core:FurnitureFittings 2024-03-31 10697376 core:MotorVehicles 2024-03-31 10697376 core:WithinOneYear 2024-03-31 10697376 core:WithinOneYear 2023-03-31 10697376 core:ShareCapital 2024-03-31 10697376 core:ShareCapital 2023-03-31 10697376 core:RetainedEarningsAccumulatedLosses 2024-03-31 10697376 core:RetainedEarningsAccumulatedLosses 2023-03-31 10697376 core:FurnitureFittings 2023-03-31 10697376 core:MotorVehicles 2023-03-31 10697376 bus:SmallEntities 2023-04-01 2024-03-31 10697376 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10697376 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10697376 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10697376 bus:FullAccounts 2023-04-01 2024-03-31 10697376 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 10697376 core:OtherPropertyPlantEquipment 2024-03-31 10697376 core:OtherPropertyPlantEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 10697376
Omega Eyes Ltd
Filleted Unaudited Financial Statements
31 March 2024
Omega Eyes Ltd
Financial Statements
Year ended 31 March 2024
Contents
Pages
Balance sheet
1 to 2
Notes to the financial statements
3 to 5
Omega Eyes Ltd
Balance Sheet
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
14,487
19,405
Current assets
Debtors
6
1,823
Cash at bank and in hand
84,029
76,456
--------
--------
84,029
78,279
Creditors: amounts falling due within one year
7
20,508
25,090
--------
--------
Net current assets
63,521
53,189
--------
--------
Total assets less current liabilities
78,008
72,594
Provisions
3,000
4,000
--------
--------
Net assets
75,008
68,594
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
74,908
68,494
--------
--------
Shareholders funds
75,008
68,594
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss has not been delivered.
For the year ending 31 March 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Omega Eyes Ltd
Balance Sheet (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
Mr J D Bowyer
Director
Company registration number: 10697376
Omega Eyes Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Blakenhall Barn (East), Mill Lane, Blakenhall, Nantwich, Cheshire, CW5 7NP. The company number is 10697376 .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
Turnover comprises the value of sales of goods and services provided in the normal course of business. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Computer Equipment
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
1,943
87,509
2,841
92,293
-------
--------
-------
--------
Depreciation
At 1 April 2023
1,804
68,988
2,096
72,888
Charge for the year
139
4,630
149
4,918
-------
--------
-------
--------
At 31 March 2024
1,943
73,618
2,245
77,806
-------
--------
-------
--------
Carrying amount
At 31 March 2024
13,891
596
14,487
-------
--------
-------
--------
At 31 March 2023
139
18,521
745
19,405
-------
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
1,823
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
6,113
7,336
Other creditors
14,395
17,754
--------
--------
20,508
25,090
--------
--------