Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 3392951 Dr Amarjit Singh Kukreja Dr Ravinder Kukreja Ms Tanmit Aurora iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 3392951 2023-05-31 3392951 2024-05-31 3392951 2023-06-01 2024-05-31 3392951 frs-core:CurrentFinancialInstruments 2024-05-31 3392951 frs-core:Non-currentFinancialInstruments 2024-05-31 3392951 frs-core:FurnitureFittings 2024-05-31 3392951 frs-core:FurnitureFittings 2023-06-01 2024-05-31 3392951 frs-core:FurnitureFittings 2023-05-31 3392951 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 3392951 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 3392951 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 3392951 frs-core:ShareCapital 2024-05-31 3392951 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 3392951 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 3392951 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 3392951 frs-bus:SmallEntities 2023-06-01 2024-05-31 3392951 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 3392951 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 3392951 frs-core:ListedExchangeTraded 2024-05-31 3392951 frs-core:ListedExchangeTraded 2023-05-31 3392951 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-05-31 3392951 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-05-31 3392951 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2024-05-31 3392951 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-05-31 3392951 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-05-31 3392951 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-05-31 3392951 frs-bus:Director1 2023-06-01 2024-05-31 3392951 frs-bus:Director2 2023-06-01 2024-05-31 3392951 frs-bus:Director3 2023-06-01 2024-05-31 3392951 frs-countries:EnglandWales 2023-06-01 2024-05-31 3392951 2022-05-31 3392951 2023-05-31 3392951 2022-06-01 2023-05-31 3392951 frs-core:CurrentFinancialInstruments 2023-05-31 3392951 frs-core:Non-currentFinancialInstruments 2023-05-31 3392951 frs-core:ShareCapital 2023-05-31 3392951 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 3392951
OMEGA INVESTMENTS LIMITED
Financial Statements
For The Year Ended 31 May 2024
Accountability PSM
Ballicom House
101 Lockhurst Lane
Coventry
CV6 5SF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 3392951
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 798,552 809,338
Investments 5 205,822 204,653
1,004,374 1,013,991
CURRENT ASSETS
Debtors 6 20,000 -
Cash at bank and in hand 86,815 44,365
106,815 44,365
Creditors: Amounts Falling Due Within One Year 7 (17,418 ) (14,612 )
NET CURRENT ASSETS (LIABILITIES) 89,397 29,753
TOTAL ASSETS LESS CURRENT LIABILITIES 1,093,771 1,043,744
Creditors: Amounts Falling Due After More Than One Year 8 (140,082 ) (140,082 )
NET ASSETS 953,689 903,662
CAPITAL AND RESERVES
Called up share capital 9 134 134
Profit and Loss Account 953,555 903,528
SHAREHOLDERS' FUNDS 953,689 903,662
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Amarjit Singh Kukreja
Director
4 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
OMEGA INVESTMENTS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 3392951 . The registered office is 47 Kenilworth Road, Coventry, CV4 7AF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0
Fixtures & Fittings 15% on rducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 737,432 264,468 1,001,900
As at 31 May 2024 737,432 264,468 1,001,900
Depreciation
As at 1 June 2023 - 192,562 192,562
Provided during the period - 10,786 10,786
As at 31 May 2024 - 203,348 203,348
Net Book Value
As at 31 May 2024 737,432 61,120 798,552
As at 1 June 2023 737,432 71,906 809,338
5. Investments
Listed
£
Cost
As at 1 June 2023 204,653
Additions 1,279
Disposals (110 )
As at 31 May 2024 205,822
...CONTINUED
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Page 5
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 205,822
As at 1 June 2023 204,653
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 20,000 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 16,657 12,573
VAT 261 95
Other creditors - 1,494
Accruals and deferred income 500 450
17,418 14,612
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 140,082 140,082
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 134 134
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