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Company No: 04602421 (England and Wales)

OMNISIS LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

OMNISIS LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

OMNISIS LTD

COMPANY INFORMATION

For the financial year ended 30 April 2024
OMNISIS LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Mrs A Cooper
Mr B E Cooper
SECRETARY Mr B E Cooper
REGISTERED OFFICE Jactin House
24 Hood Street
Manchester
M4 6WX
United Kingdom
COMPANY NUMBER 04602421 (England and Wales)
ACCOUNTANT Barlow Andrews LLP
Carlyle House
78 Chorley New Road
Bolton
OMNISIS LTD

BALANCE SHEET

As at 30 April 2024
OMNISIS LTD

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 138,003 255,206
Tangible assets 4 72,584 11,162
Investment property 5 193,371 193,371
403,958 459,739
Current assets
Debtors 6 1,621,404 1,268,179
Cash at bank and in hand 359,063 531,855
1,980,467 1,800,034
Creditors: amounts falling due within one year 7 ( 503,860) ( 390,516)
Net current assets 1,476,607 1,409,518
Total assets less current liabilities 1,880,565 1,869,257
Creditors: amounts falling due after more than one year 8 ( 37,577) ( 106,086)
Provision for liabilities 9 ( 51,857) 0
Net assets 1,791,131 1,763,171
Capital and reserves
Called-up share capital 2,004 2,001
Profit and loss account 1,789,127 1,761,170
Total shareholders' funds 1,791,131 1,763,171

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Omnisis Ltd (registered number: 04602421) were approved and authorised for issue by the Board of Directors on 15 November 2024. They were signed on its behalf by:

Mr B E Cooper
Director
OMNISIS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
OMNISIS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Omnisis Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Jactin House, 24 Hood Street, Manchester, M4 6WX, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents the fair value of the amounts received or receivable for marketing and sales consultancy provided to customers, excluding value added tax. Revenue from partially completed contracts is recognised on the basis of stage of completion of each contract, as a percentage of the total revenue due on that contract.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 3 years straight line
Trademarks, patents and licences not amortised
Website costs 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

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 the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 16

3. Intangible assets

Development costs Trademarks, patents
and licences
Website costs Total
£ £ £ £
Cost
At 01 May 2023 403,818 390 10,888 415,096
At 30 April 2024 403,818 390 10,888 415,096
Accumulated amortisation
At 01 May 2023 159,282 0 608 159,890
Charge for the financial year 113,574 0 3,629 117,203
At 30 April 2024 272,856 0 4,237 277,093
Net book value
At 30 April 2024 130,962 390 6,651 138,003
At 30 April 2023 244,536 390 10,280 255,206

4. Tangible assets

Land and buildings Office equipment Total
£ £ £
Cost
At 01 May 2023 0 59,906 59,906
Additions 65,540 3,226 68,766
At 30 April 2024 65,540 63,132 128,672
Accumulated depreciation
At 01 May 2023 0 48,744 48,744
Charge for the financial year 0 7,344 7,344
At 30 April 2024 0 56,088 56,088
Net book value
At 30 April 2024 65,540 7,044 72,584
At 30 April 2023 0 11,162 11,162

5. Investment property

Investment property
£
Valuation
As at 01 May 2023 193,371
As at 30 April 2024 193,371

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 193,371 193,371

6. Debtors

2024 2023
£ £
Trade debtors 1,150,037 690,809
S455 145,256 145,256
Other debtors 326,111 432,114
1,621,404 1,268,179

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 61,927 52,330
Trade creditors 263,410 154,503
Taxation and social security 102,665 98,711
Other creditors 75,858 84,972
503,860 390,516

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 37,577 106,086

9. Provision for liabilities

2024 2023
£ £
Deferred tax 51,857 0

10. Related party transactions

Transactions with the entity's directors

During the year £97,146 was repaid to the company by its directors Brian & Alison Cooper.
The amount owed by the directors to the company, as at 30 April 2024, was £316,204 and is included within debtors (2023 - £405,530).
Interest has been applied at 2.25% on the loan and an amount of £7,822 has been charged in the year (2023 - £7,941).