IRIS Accounts Production v25.1.4.42 02037665 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh020376652023-09-30020376652024-09-30020376652023-10-012024-09-30020376652022-09-30020376652022-10-012023-09-30020376652023-09-3002037665ns15:EnglandWales2023-10-012024-09-3002037665ns14:PoundSterling2023-10-012024-09-3002037665ns10:Director12023-10-012024-09-3002037665ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3002037665ns10:SmallEntities2023-10-012024-09-3002037665ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3002037665ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3002037665ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3002037665ns10:FullAccounts2023-10-012024-09-3002037665ns10:Director22023-10-012024-09-3002037665ns10:CompanySecretary12023-10-012024-09-3002037665ns10:RegisteredOffice2023-10-012024-09-3002037665ns5:CurrentFinancialInstruments2024-09-3002037665ns5:CurrentFinancialInstruments2023-09-3002037665ns5:Non-currentFinancialInstruments2024-09-3002037665ns5:Non-currentFinancialInstruments2023-09-3002037665ns5:ShareCapital2024-09-3002037665ns5:ShareCapital2023-09-3002037665ns5:RetainedEarningsAccumulatedLosses2024-09-3002037665ns5:RetainedEarningsAccumulatedLosses2023-09-3002037665ns5:PlantMachinery2023-09-3002037665ns5:MotorVehicles2023-09-3002037665ns5:PlantMachinery2023-10-012024-09-3002037665ns5:MotorVehicles2023-10-012024-09-3002037665ns5:PlantMachinery2024-09-3002037665ns5:MotorVehicles2024-09-3002037665ns5:PlantMachinery2023-09-3002037665ns5:MotorVehicles2023-09-3002037665ns5:LeasedAssetsHeldAsLessee2023-10-012024-09-3002037665ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3002037665ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3002037665ns5:FinanceLeasesns5:WithinOneYear2024-09-3002037665ns5:FinanceLeasesns5:WithinOneYear2023-09-3002037665ns5:FinanceLeasesns5:BetweenOneFiveYears2024-09-3002037665ns5:FinanceLeasesns5:BetweenOneFiveYears2023-09-3002037665ns5:FinanceLeases2024-09-3002037665ns5:FinanceLeases2023-09-3002037665ns5:FinanceLeasesns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3002037665ns5:FinanceLeasesns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3002037665ns5:DeferredTaxation2023-09-3002037665ns5:DeferredTaxation2024-09-30
REGISTERED NUMBER: 02037665 (England and Wales)












OMNEX PROFILM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






OMNEX PROFILM LIMITED (REGISTERED NUMBER: 02037665)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OMNEX PROFILM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: S R H Tandy
I M Thomas





SECRETARY: Mrs S L Thomas





REGISTERED OFFICE: Mission Hall
9-11 North End Road
London
W14 8ST





REGISTERED NUMBER: 02037665 (England and Wales)

OMNEX PROFILM LIMITED (REGISTERED NUMBER: 02037665)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 23,915 15,925

CURRENT ASSETS
Stocks 552,725 388,071
Debtors 5 511,520 1,980,696
Cash at bank 44,311 85,140
1,108,556 2,453,907
CREDITORS
Amounts falling due within one year 6 (1,062,103 ) (825,979 )
NET CURRENT ASSETS 46,453 1,627,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,368

1,643,853

CREDITORS
Amounts falling due after more than one
year

7

-

(22,937

)

PROVISIONS FOR LIABILITIES 10 - (3,982 )
NET ASSETS 70,368 1,616,934

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 70,366 1,616,932
70,368 1,616,934

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

OMNEX PROFILM LIMITED (REGISTERED NUMBER: 02037665)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 27 June 2025 and were signed on its behalf by:





I M Thomas - Director


OMNEX PROFILM LIMITED (REGISTERED NUMBER: 02037665)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Omnex Profilm Limited is a private company, limited by shares , registered in England and Wales. 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover
Turnover represents the sale of goods and services, including project installations, net of VAT and trade discounts. Turnover in respect of the sale of goods is recognised when the goods are physically dispatched to the customer. Turnover in respect of service contracts is recognised evenly over the term of the contract. Turnover in respect of project installations is recognised once the company has fulfilled its obligations under its contract with its customer. Where sales invoices are raised in advance of an installation being completed, an amount is included in deferred income.

Tangible fixed assets
Tangible fixed assets are initially recognised at cost within the financial statements.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Motor vehicles- 25% straight line
Plant and machinery- 25-33% straight line

The profit 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 recognised in the income statement.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are valued using the FIFO basis.

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.


OMNEX PROFILM LIMITED (REGISTERED NUMBER: 02037665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

OMNEX PROFILM LIMITED (REGISTERED NUMBER: 02037665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 October 2023 23,101 12,509 35,610
Additions 17,342 - 17,342
At 30 September 2024 40,443 12,509 52,952
DEPRECIATION
At 1 October 2023 7,176 12,509 19,685
Charge for year 9,352 - 9,352
At 30 September 2024 16,528 12,509 29,037
NET BOOK VALUE
At 30 September 2024 23,915 - 23,915
At 30 September 2023 15,925 - 15,925

The net book value of assets held on finance lease agreements included within the above is £6,302 (2023: £12,604). The depreciation charge for the year relating to these assets amounted to £6,302 (2023: £6,302).

5. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 438,382 371,672
Other debtors 73,138 17,080
511,520 388,752

Amounts falling due after more than one year:
Amounts owed by group undertakings - 1,591,944

Aggregate amounts 511,520 1,980,696

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Finance leases (see note 8) 6,511 6,176
Trade creditors 409,884 413,201
Taxation and social security 115,930 107,205
Other creditors 529,778 299,397
1,062,103 825,979

OMNEX PROFILM LIMITED (REGISTERED NUMBER: 02037665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Finance leases (see note 8) - 6,511
Amounts owed to group undertakings - 16,426
- 22,937

8. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2024 2023
£ £
Gross obligations repayable:
Within one year 6,622 6,522
Between one and five years - 6,622
6,622 13,144

Finance charges repayable:
Within one year 111 346
Between one and five years - 111
111 457

Net obligations repayable:
Within one year 6,511 6,176
Between one and five years - 6,511
6,511 12,687

At the balance sheet date, the company had future commitments under operating leases totalling £168,119 (2023: £145,297).

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Finance leases 6,511 12,687

The finance leases are secured on the assets to which they relate.

OMNEX PROFILM LIMITED (REGISTERED NUMBER: 02037665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


10. PROVISIONS FOR LIABILITIES
2023
£
Deferred tax 3,982

Deferred tax
£
Balance at 1 October 2023 3,982
Accelerated capital allowances 889
Deferred tax losses (16,136 )
Balance at 30 September 2024 (11,265 )

11. CONTINGENT LIABILITIES

In September 2020, the company entered into a cross guarantee with its previous parent company and all other companies in the group, for the bank borrowing of Motion Picture Solutions Limited, the previous parent company. The bank loans and overdraft for Motion Picture Solutions Limited are secured by fixed and floating charges over the group's property. At the balance sheet date, the total borrowing outstanding was £1.9m (2023: £1.9m).

12. ULTIMATE CONTROLLING PARTY

Motion Picture Solutions Limited, a company incorporated in England & Wales, was the ultimate parent company until 29 November 2023.

On 29 November 2023, I M Thomas acquired the shares of Omnex Profilm Limited and is therefore considered to be the ultimate controlling party.