IRIS Accounts Production v25.1.0.734 SC595470 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5954702023-04-30SC5954702024-04-30SC5954702023-05-012024-04-30SC5954702022-04-30SC5954702022-05-012023-04-30SC5954702023-04-30SC595470ns15:Scotland2023-05-012024-04-30SC595470ns14:PoundSterling2023-05-012024-04-30SC595470ns10:Director12023-05-012024-04-30SC595470ns10:PrivateLimitedCompanyLtd2023-05-012024-04-30SC595470ns10:SmallEntities2023-05-012024-04-30SC595470ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-30SC595470ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-30SC595470ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-30SC595470ns10:FullAccounts2023-05-012024-04-30SC595470ns10:Director22023-05-012024-04-30SC595470ns10:RegisteredOffice2023-05-012024-04-30SC595470ns5:CurrentFinancialInstruments2024-04-30SC595470ns5:CurrentFinancialInstruments2023-04-30SC595470ns5:ShareCapital2024-04-30SC595470ns5:ShareCapital2023-04-30SC595470ns5:RetainedEarningsAccumulatedLosses2024-04-30SC595470ns5:RetainedEarningsAccumulatedLosses2023-04-30SC595470ns5:FurnitureFittings2023-05-012024-04-30SC595470ns5:MotorVehicles2023-05-012024-04-30SC595470ns5:FurnitureFittings2023-04-30SC595470ns5:MotorVehicles2023-04-30SC595470ns5:FurnitureFittings2024-04-30SC595470ns5:MotorVehicles2024-04-30SC595470ns5:FurnitureFittings2023-04-30SC595470ns5:MotorVehicles2023-04-30SC595470ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-30SC595470ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-30
REGISTERED NUMBER: SC595470 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

OMEGA PROPERTY COLLECTION LIMITED

OMEGA PROPERTY COLLECTION LIMITED (REGISTERED NUMBER: SC595470)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OMEGA PROPERTY COLLECTION LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTORS: L E J Arthur
H M Willox





REGISTERED OFFICE: 5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC595470 (Scotland)






OMEGA PROPERTY COLLECTION LIMITED (REGISTERED NUMBER: SC595470)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 33,966 27,100

CURRENT ASSETS
Debtors 5 30,534 47,888
Cash at bank 637 31,658
31,171 79,546
CREDITORS
Amounts falling due within one year 6 32,455 21,085
NET CURRENT (LIABILITIES)/ASSETS (1,284 ) 58,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,682

85,561

CAPITAL AND RESERVES
Called up share capital 2 1
Retained earnings 32,680 85,560
32,682 85,561

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2025 and were signed on its behalf by:





H M Willox - Director


OMEGA PROPERTY COLLECTION LIMITED (REGISTERED NUMBER: SC595470)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

OMEGA Property Collection Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost and 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

OMEGA PROPERTY COLLECTION LIMITED (REGISTERED NUMBER: SC595470)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 May 2023 8,592 47,074 55,666
Additions 11,050 15,000 26,050
Disposals - (21,344 ) (21,344 )
At 30 April 2024 19,642 40,730 60,372
DEPRECIATION
At 1 May 2023 6,791 21,775 28,566
Charge for year 2,541 8,194 10,735
Eliminated on disposal - (12,895 ) (12,895 )
At 30 April 2024 9,332 17,074 26,406
NET BOOK VALUE
At 30 April 2024 10,310 23,656 33,966
At 30 April 2023 1,801 25,299 27,100

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 360 977
Amounts owed by group undertakings 23,516 -
Other debtors 6,658 46,911
30,534 47,888

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,116 12,632
Taxation and social security 24,280 5,380
Other creditors 4,059 3,073
32,455 21,085

7. ULTIMATE CONTROLLING PARTY

The controlling party is L E J Arthur.

8. GOING CONCERN

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.