Registered number
07064175
Essist Omikron Limited
Unaudited Filleted Accounts
31 December 2024
Essist Omikron Limited
Registered number: 07064175
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 27,002 46,365
Investments 4 1 1
27,003 46,366
Current assets
Debtors 5 184,088 42,509
Cash at bank and in hand 72,918 127,037
257,006 169,546
Creditors: amounts falling due within one year 6 (144,646) (55,201)
Net current assets 112,360 114,345
Net assets 139,363 160,711
Capital and reserves
Called up share capital 100 100
Profit and loss account 139,263 160,611
Shareholders' funds 139,363 160,711
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M C Ryan
Director
Approved by the board on 28 August 2025
Essist Omikron Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Office equipment over 4 years
Motor vehicles over 4 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 7,871 74,155 82,026
Additions 1,303 - 1,303
At 31 December 2024 9,174 74,155 83,329
Depreciation
At 1 January 2024 3,218 32,443 35,661
Charge for the year 2,127 18,539 20,666
At 31 December 2024 5,345 50,982 56,327
Net book value
At 31 December 2024 3,829 23,173 27,002
At 31 December 2023 4,653 41,712 46,365
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2024 1
At 31 December 2024 1
5 Debtors 2024 2023
£ £
Trade debtors 150,548 13,595
Prepayments 3,838 3,838
Deferred tax asset 6,772 6,733
Other debtors - incl directors 22,930 18,343
184,088 42,509
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 47,832 35,138
Accruals 81,251 2,204
Amounts owed to group undertakings and undertakings in which the company has a participating interest (6,407) 5,376
Taxation and social security costs 21,870 12,428
Other creditors 100 55
144,646 55,201
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
MC Ryan loan 18,193 - - 18,193
S Ryan loan 4,737 - - 4,737
22,930 - - 22,930
8 Controlling party
The company is controlled by Mr M C Ryan who owns 100% of the shares either personally or with his personal company.
9 Other information
Essist Omikron Limited is a private company limited by shares and incorporated in England. Its registered office is:
Marnshaw House
Warrington Lane
Lymm
Cheshire
WA13 0SW
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