OMADA SUBS LTD NI664600 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is the operation of subway sandwich outlets Digita Accounts Production Advanced 6.30.9574.0 true NI664600 2023-10-01 2024-09-30 NI664600 2024-09-30 NI664600 core:CurrentFinancialInstruments 2024-09-30 NI664600 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 NI664600 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 NI664600 core:Goodwill 2024-09-30 NI664600 core:PatentsTrademarksLicencesConcessionsSimilar 2024-09-30 NI664600 core:FurnitureFittingsToolsEquipment 2024-09-30 NI664600 core:MotorVehicles 2024-09-30 NI664600 bus:SmallEntities 2023-10-01 2024-09-30 NI664600 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 NI664600 bus:FilletedAccounts 2023-10-01 2024-09-30 NI664600 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI664600 bus:RegisteredOffice 2023-10-01 2024-09-30 NI664600 bus:Director1 2023-10-01 2024-09-30 NI664600 bus:Director2 2023-10-01 2024-09-30 NI664600 bus:Director3 2023-10-01 2024-09-30 NI664600 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI664600 core:Goodwill 2023-10-01 2024-09-30 NI664600 core:PatentsTrademarksLicencesConcessionsSimilar 2023-10-01 2024-09-30 NI664600 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 NI664600 core:MotorVehicles 2023-10-01 2024-09-30 NI664600 core:PlantMachinery 2023-10-01 2024-09-30 NI664600 countries:NorthernIreland 2023-10-01 2024-09-30 NI664600 2023-09-30 NI664600 core:Goodwill 2023-09-30 NI664600 core:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 NI664600 core:FurnitureFittingsToolsEquipment 2023-09-30 NI664600 core:MotorVehicles 2023-09-30 NI664600 2022-10-01 2023-09-30 NI664600 2023-09-30 NI664600 core:CurrentFinancialInstruments 2023-09-30 NI664600 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 NI664600 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 NI664600 core:Goodwill 2023-09-30 NI664600 core:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 NI664600 core:FurnitureFittingsToolsEquipment 2023-09-30 NI664600 core:MotorVehicles 2023-09-30 iso4217:GBP xbrli:pure

Registration number: NI664600

OMADA SUBS LTD

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

OMADA SUBS LTD

(Registration number: NI664600)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

55,855

61,234

Tangible assets

5

371,417

199,095

Investments

6

30,075

30,075

 

457,347

290,404

Current assets

 

Stocks

7

17,982

17,058

Debtors

8

56,384

51,542

Cash at bank and in hand

 

300,913

215,192

 

375,279

283,792

Creditors: Amounts falling due within one year

9

(327,739)

(163,909)

Net current assets

 

47,540

119,883

Total assets less current liabilities

 

504,887

410,287

Creditors: Amounts falling due after more than one year

9

(230,382)

(116,207)

Provisions for liabilities

(25,773)

(29,620)

Net assets

 

248,732

264,460

Capital and reserves

 

Called up share capital

75

75

Capital redemption reserve

25

25

Retained earnings

248,632

264,360

Shareholders' funds

 

248,732

264,460

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

OMADA SUBS LTD

(Registration number: NI664600)
Balance Sheet as at 30 September 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 

.........................................
Miss Rachel Johnston
Director

.........................................
Mrs Stacey Brown
Director

.........................................
Mr Adam Heyes
Director

 

OMADA SUBS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 1 Ballymena Road, Doagh, Ballyclare, Co. Antrim, BT39 0QR.

These financial statements were authorised for issue by the Board on 26 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

OMADA SUBS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fit out and Equipment

20% reducing balance basis

Leased Equipment

20% straight line basis

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

OMADA SUBS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

6.5% straight line basis

Franchise fee

6.5% straight line basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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 income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

OMADA SUBS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 49 (2023 - 36).

 

OMADA SUBS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Franchise fee
 £

Total
£

Cost or valuation

At 1 October 2023

70,000

12,750

82,750

At 30 September 2024

70,000

12,750

82,750

Amortisation

At 1 October 2023

18,200

3,316

21,516

Amortisation charge

4,550

829

5,379

At 30 September 2024

22,750

4,145

26,895

Carrying amount

At 30 September 2024

47,250

8,605

55,855

At 30 September 2023

51,800

9,434

61,234

5

Tangible assets

Fit out and Equipment
£

Leased Equipment
 £

Total
£

Cost or valuation

At 1 October 2023

234,105

-

234,105

Additions

19,746

198,894

218,640

At 30 September 2024

253,851

198,894

452,745

Depreciation

At 1 October 2023

35,010

-

35,010

Charge for the year

41,226

5,092

46,318

At 30 September 2024

76,236

5,092

81,328

Carrying amount

At 30 September 2024

177,615

193,802

371,417

At 30 September 2023

199,095

-

199,095

 

OMADA SUBS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Investments

2024
£

2023
£

Investments

30,075

30,075

7

Stocks

2024
£

2023
£

Stock

17,982

17,058

8

Debtors

2024
£

2023
£

Prepayments

12,065

20,558

Other debtors

44,319

30,984

56,384

51,542

9

Creditors: due within one year

Creditors: amounts falling due within one year

2024
£

2023
£

Loans and borrowings

59,913

31,002

Trade creditors

59,004

47,871

Taxation and social security

96,492

37,657

Other creditors

112,330

47,379

327,739

163,909

Due after one year

Loans and borrowings

230,382

116,207