Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-314Holding company2023-09-01false4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09795417 2023-09-01 2024-08-31 09795417 2022-09-01 2023-08-31 09795417 2024-08-31 09795417 2023-08-31 09795417 2022-09-01 09795417 c:Director2 2023-09-01 2024-08-31 09795417 d:CurrentFinancialInstruments 2024-08-31 09795417 d:CurrentFinancialInstruments 2023-08-31 09795417 d:ShareCapital 2023-09-01 2024-08-31 09795417 d:ShareCapital 2024-08-31 09795417 d:ShareCapital 2022-09-01 2023-08-31 09795417 d:ShareCapital 2023-08-31 09795417 d:ShareCapital 2022-09-01 09795417 d:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 09795417 d:RetainedEarningsAccumulatedLosses 2024-08-31 09795417 d:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 09795417 d:RetainedEarningsAccumulatedLosses 2023-08-31 09795417 d:RetainedEarningsAccumulatedLosses 2022-09-01 09795417 c:FRS102 2023-09-01 2024-08-31 09795417 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09795417 c:FullAccounts 2023-09-01 2024-08-31 09795417 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09795417 d:Subsidiary1 2023-09-01 2024-08-31 09795417 6 2023-09-01 2024-08-31 09795417 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure
Company registration number: 09795417











________________________________________________________________________________________


OMNIA ART HOLDING LIMITED

________________________________________________________________________________________



UNAUDITED

ANNUAL REPORT

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 
31 AUGUST 2024

 
OMNIA ART HOLDING LIMITED
REGISTERED NUMBER:09795417

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,842,067
1,842,067

  
1,842,067
1,842,067

Current assets
  

Debtors: amounts falling due within one year
 5 
100
100

  
100
100

Total assets less current liabilities
  
 
 
1,842,167
 
 
1,842,167

  

Net assets
  
1,842,167
1,842,167


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
 6 
1,842,067
1,842,067

  
1,842,167
1,842,167


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements on pages 1 to 6 were approved and authorised for issue by the board on 14 January 2025 and were signed on its behalf by:




Mr A. Cowie
Director

Page 1

 
OMNIA ART HOLDING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 September 2022
100
1,842,067
1,842,167


Comprehensive income for the year

Profit for the year
-
340,000
340,000
Total comprehensive income for the year
-
340,000
340,000


Contributions by and distributions to owners

Dividends: Equity capital
-
(340,000)
(340,000)


Total transactions with owners
-
(340,000)
(340,000)



At 1 September 2023
100
1,842,067
1,842,167


Comprehensive income for the year

Profit for the year
-
440,000
440,000
Total comprehensive income for the year
-
440,000
440,000


Contributions by and distributions to owners

Dividends: Equity capital
-
(440,000)
(440,000)


Total transactions with owners
-
(440,000)
(440,000)


At 31 August 2024
100
1,842,067
1,842,167


Page 2

 
OMNIA ART HOLDING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.Accounting policies

  
1.1

Statement of compliance

Omnia Art Holding Limited is a private company limited by shares and is incorporated and domiciled in England and Wales. The address of its registered office and principal place of business is 17 Clifford Street, London, W1S 3RQ. The principal activity of the Company is that of a holding company. The Group provides fine art consultancy.  

  
1.2

Basis of preparation

The financial statements have been prepared in accordance with United Kingdom Accounting Standards, including Section 1A 'Small Entities' of Financial Reporting Standard 102, 'the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' ("FRS 102") and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The functional and presentational currency is pound sterling.
The Company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the Company as an individual undertaking and not about its group.
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 2.

 
1.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

  
1.4

Taxation

Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the Profit and Loss Account. Current or deferred taxation assets and liabilities are not discounted.
Current tax
Current tax is the amount of corporation tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.
Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
 
Page 3

 
OMNIA ART HOLDING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.Accounting policies (continued)

1.4  Taxation (continued)
Deferred tax
Deferred tax arises from timing differences that are differences between taxable profits and profit on ordinary activities before taxation as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when 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 tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

  
1.5

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the Profit and Loss Account in ‘administrative expenses’.
Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

  
1.6

Dividends

Final dividends to the Company’s shareholders are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders.  These amounts are recognised in the Statement of Changes in Equity. Interim dividends are recognised in the Statement of Changes in Equity as paid.
 
  
1.7

Related party transactions

The Company discloses transactions with related parties which are not wholly owned within the same group. It does not disclose transactions with members of the same group that are wholly owned. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors separate disclosure is necessary to understand the effect of the transactions on the Company’s financial statements.
 
Page 4

 
OMNIA ART HOLDING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.


Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements management are required to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported in the income statement during the year. However, the nature of estimation means that actual outcomes could differ from these estimates. Whilst management have made judgements, estimates and assumptions in preparing the financial statements, they consider that these have not had a significant effect on amounts recognised.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 September 2023
1,842,067



At 31 August 2024
1,842,067






Net book value



At 31 August 2024
1,842,067



At 31 August 2023
1,842,067

The investment is a 100% holding of the ordinary share capital of Omnia Art Limited which has the principal activity of fine art consultancy.


5.


Debtors

2024
2023
£
£


Called up share capital not paid
100
100


Page 5

 
OMNIA ART HOLDING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Reserves

Profit and loss account

The profit and loss account is a wholly distributable reserve.


7.


Related party transactions

The Company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions and balances with members of the same wholly owned group company.


8.


Subsequent events

Subsequent to the balance sheet date the Company paid dividends totalling £170,000. 

Page 6