Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312025-05-092024-08-312025-05-09false82023-09-01falseEngineering7trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01814922 2023-09-01 2024-08-31 01814922 2022-09-01 2023-08-31 01814922 2024-08-31 01814922 2023-08-31 01814922 c:Director3 2023-09-01 2024-08-31 01814922 c:Director4 2023-09-01 2024-08-31 01814922 d:Buildings 2023-09-01 2024-08-31 01814922 d:Buildings 2024-08-31 01814922 d:Buildings 2023-08-31 01814922 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01814922 d:PlantMachinery 2023-09-01 2024-08-31 01814922 d:PlantMachinery 2024-08-31 01814922 d:PlantMachinery 2023-08-31 01814922 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01814922 d:MotorVehicles 2023-09-01 2024-08-31 01814922 d:MotorVehicles 2024-08-31 01814922 d:MotorVehicles 2023-08-31 01814922 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01814922 d:OfficeEquipment 2023-09-01 2024-08-31 01814922 d:OfficeEquipment 2024-08-31 01814922 d:OfficeEquipment 2023-08-31 01814922 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01814922 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01814922 d:CurrentFinancialInstruments 2024-08-31 01814922 d:CurrentFinancialInstruments 2023-08-31 01814922 d:Non-currentFinancialInstruments 2024-08-31 01814922 d:Non-currentFinancialInstruments 2023-08-31 01814922 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 01814922 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 01814922 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 01814922 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 01814922 d:ShareCapital 2024-08-31 01814922 d:ShareCapital 2023-08-31 01814922 d:RetainedEarningsAccumulatedLosses 2024-08-31 01814922 d:RetainedEarningsAccumulatedLosses 2023-08-31 01814922 c:OrdinaryShareClass1 2023-09-01 2024-08-31 01814922 c:OrdinaryShareClass1 2024-08-31 01814922 c:OrdinaryShareClass2 2023-09-01 2024-08-31 01814922 c:OrdinaryShareClass2 2024-08-31 01814922 c:OrdinaryShareClass3 2023-09-01 2024-08-31 01814922 c:OrdinaryShareClass3 2024-08-31 01814922 c:OrdinaryShareClass4 2023-09-01 2024-08-31 01814922 c:OrdinaryShareClass4 2024-08-31 01814922 c:FRS102 2023-09-01 2024-08-31 01814922 c:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 01814922 c:FullAccounts 2023-09-01 2024-08-31 01814922 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 01814922 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-09-01 2024-08-31 01814922 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-08-31 01814922 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-08-31 01814922 e:PoundSterling 2023-09-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01814922










OMICRON ENGINEERING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
OMICRON ENGINEERING LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 9


 
OMICRON ENGINEERING LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF OMICRON ENGINEERING LIMITED
FOR THE YEAR ENDED 31 AUGUST 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Omicron Engineering Limited for the year ended 31 August 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Omicron Engineering Limited, as a body, in accordance with the terms of our engagement letter dated 16 May 2024Our work has been undertaken solely to prepare for your approval the financial statements of Omicron Engineering Limited and state those matters that we have agreed to state to the Board of directors of Omicron Engineering Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Omicron Engineering Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Omicron Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Omicron Engineering Limited. You consider that Omicron Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Omicron Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
9 May 2025
Page 1

 
OMICRON ENGINEERING LIMITED
REGISTERED NUMBER: 01814922

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
9,893
5,972

  
9,893
5,972

Current assets
  

Stocks
  
347,435
354,916

Debtors: amounts falling due within one year
 6 
26,583
21,165

Cash at bank and in hand
  
13,367
261

  
387,385
376,342

Creditors: amounts falling due within one year
 7 
(213,890)
(232,320)

Net current assets
  
 
 
173,495
 
 
144,022

Total assets less current liabilities
  
183,388
149,994

Creditors: amounts falling due after more than one year
 8 
(25,917)
(19,771)

Provisions for liabilities
  

Deferred tax
  
(1,880)
(1,135)

  
 
 
(1,880)
 
 
(1,135)

Net assets
  
155,591
129,088


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
155,491
128,988

  
155,591
129,088


Page 2

 
OMICRON ENGINEERING LIMITED
REGISTERED NUMBER: 01814922
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

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 were approved and authorised for issue by the board and were signed on its behalf on










................................................
Mr A G M Cliffe
................................................
Mr T J P Cliffe
Director
Director


Date: 9 May 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
OMICRON ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Omicron Engineering Limited is a private company, limited by shares, incorporated and domiciled in England and Wales.  The registered office is The Long Barn, Mulbarton, Norwich, Norfolk, NR14 8JS.
The company's principal activities are those of the restoration and servicing of classic cars.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
OMICRON ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. 


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Property improvements
-
20% straight line
Workshop equipment and tools
-
15% straight line
Motor vehicles
-
25% straight line
Office furniture and equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks of spare parts are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase using an average cost method.

Page 5

 
OMICRON ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 8).


4.


Pension commitments

Contributions totalling £942 (2023: £893) were payable to the fund at the balance sheet date and are included in creditors. 

Page 6

 
OMICRON ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Property improvements
Workshop tools and equipment
Motor vehicles
Office furniture & equipment
Total

£
£
£
£
£



Cost or valuation


At 1 September 2023
31,371
8,075
7,290
7,332
54,068


Additions
-
-
8,450
-
8,450


Disposals
-
-
(7,290)
-
(7,290)



At 31 August 2024

31,371
8,075
8,450
7,332
55,228



Depreciation


At 1 September 2023
31,371
4,477
7,290
4,957
48,095


Charge for the year on owned assets
-
1,212
2,113
1,205
4,530


Disposals
-
-
(7,290)
-
(7,290)



At 31 August 2024

31,371
5,689
2,113
6,162
45,335



Net book value



At 31 August 2024
-
2,386
6,337
1,170
9,893



At 31 August 2023
-
3,597
-
2,375
5,972

Page 7

 
OMICRON ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Debtors

2024
2023
£
£


Trade debtors
18,518
12,628

Prepayments and accrued income
8,065
8,537

26,583
21,165



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
35,834
8,223

Bank loans
5,711
10,021

Payments received on account
10,069
7,941

Trade creditors
30,160
20,665

Other taxation and social security
19,995
21,875

Other creditors
109,131
159,930

Accruals and deferred income
2,990
3,665

213,890
232,320





8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
25,917
19,771

25,917
19,771




The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is £7,600 (2023 £- ) relating to bank loans.





Page 8

 
OMICRON ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



30 Ordinary A shares of £1.00 each
30
30
30 Ordinary B shares of £1.00 each
30
30
20 Ordinary C shares of £1.00 each
20
20
20 Ordinary D shares of £1.00 each
20
20

100

100



10.


Related party transactions

At the year end the Company owed £108,188 (2023 - £159,038) to the directors.
The loan is interest free, repayable on demand and included within note 7, other creditors, to the financial statements.

 
Page 9