Silverfin false false 30/04/2024 01/05/2023 30/04/2024 O Canela-Xandri 09/04/2021 L D Gaw 09/04/2021 28 January 2025 The principal activity of the Company during the financial period was the development of software applications to support the storage and analysis of genomic and other bio-medical data. SC695247 2024-04-30 SC695247 bus:Director1 2024-04-30 SC695247 bus:Director2 2024-04-30 SC695247 2023-04-30 SC695247 core:CurrentFinancialInstruments 2024-04-30 SC695247 core:CurrentFinancialInstruments 2023-04-30 SC695247 core:ShareCapital 2024-04-30 SC695247 core:ShareCapital 2023-04-30 SC695247 core:FurtherSpecificReserve2ComponentTotalEquity 2024-04-30 SC695247 core:FurtherSpecificReserve2ComponentTotalEquity 2023-04-30 SC695247 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC695247 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC695247 core:OtherResidualIntangibleAssets 2023-04-30 SC695247 core:OtherResidualIntangibleAssets 2024-04-30 SC695247 core:OtherPropertyPlantEquipment 2023-04-30 SC695247 core:OtherPropertyPlantEquipment 2024-04-30 SC695247 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-04-30 SC695247 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-04-30 SC695247 bus:OrdinaryShareClass1 2024-04-30 SC695247 2023-05-01 2024-04-30 SC695247 bus:FilletedAccounts 2023-05-01 2024-04-30 SC695247 bus:SmallEntities 2023-05-01 2024-04-30 SC695247 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC695247 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC695247 bus:Director1 2023-05-01 2024-04-30 SC695247 bus:Director2 2023-05-01 2024-04-30 SC695247 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-05-01 2024-04-30 SC695247 2022-05-01 2023-04-30 SC695247 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 SC695247 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 SC695247 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC695247 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC695247 (Scotland)

OMECU LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

OMECU LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

OMECU LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
OMECU LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 2 2
Tangible assets 4 0 1,474
2 1,476
Current assets
Debtors 5 336 609
Cash at bank and in hand 6 1,421 10,862
1,757 11,471
Creditors: amounts falling due within one year 7 ( 121,249) ( 35,209)
Net current liabilities (119,492) (23,738)
Total assets less current liabilities (119,490) (22,262)
Net liabilities ( 119,490) ( 22,262)
Capital and reserves
Called-up share capital 8 13 13
Equity reserve 15,000 15,000
Profit and loss account ( 134,503 ) ( 37,275 )
Total shareholders' deficit ( 119,490) ( 22,262)

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 Omecu Limited (registered number: SC695247) were approved and authorised for issue by the Board of Directors on 28 January 2025. They were signed on its behalf by:

L D Gaw
Director
OMECU LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
OMECU LIMITED

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 period, unless otherwise stated.

General information and basis of accounting

Omecu Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 144 St Vincent Street, C/O Mckee Campbell Morrison, Glasgow, G2 5LQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items 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 £.

Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.

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:

Other intangible assets not amortised
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 and freehold land, 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:

Plant and machinery etc. 2 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs

Basic financial liabilities
Basic financial liabilities, including creditors are classified as debt and recognised at transaction price.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 May 2023 2 2
At 30 April 2024 2 2
Accumulated amortisation
At 01 May 2023 0 0
At 30 April 2024 0 0
Net book value
At 30 April 2024 2 2
At 30 April 2023 2 2

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 4,282 4,282
At 30 April 2024 4,282 4,282
Accumulated depreciation
At 01 May 2023 2,808 2,808
Charge for the financial year 1,474 1,474
At 30 April 2024 4,282 4,282
Net book value
At 30 April 2024 0 0
At 30 April 2023 1,474 1,474

5. Debtors

2024 2023
£ £
Trade debtors 1 0
Other debtors 335 609
336 609

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 1,421 10,862

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 7,405 1,420
Amounts owed to related parties 14,695 0
Other taxation and social security 36,087 9,884
Other creditors 63,062 23,905
121,249 35,209

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,253 Ordinary shares of £ 0.01 each 13 13

9. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts owed to key management personnel 62,729 20,000

The above balance is interest free and has no fixed terms of repayment.