OMS International Limited

(Registration number: 11780130)
Balance Sheet as at 31 December 2024

	Note	2024 £	(As restated) 2023 £
Fixed assets
Tangible assets	5	1,545	20,487
Current assets
Debtors	6	1,723,376	1,761,295
Cash at bank and in hand		343,135	253,671
		2,066,511	2,014,966
Creditors: Amounts falling due within one year	7	(2,182,256)	(2,420,455)
Net current liabilities		(115,745)	(405,489)
Total assets less current liabilities		(114,200)	(385,002)
Creditors: Amounts falling due after more than one year	7	(6,569)	(14,938)
Net liabilities		(120,769)	(399,940)
Capital and reserves
Called up share capital	9	100	100
Profit and loss account		(120,869)	(400,040)
Total equity		(120,769)	(399,940)

OMS International Limited

(Registration number: 11780130)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the director on 3 September 2025
 

.........................................

R L D Grimmond
Director

OMS International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
First Floor Office
Unit J The Underfall Boat Yard
Cumberland Road
Bristol
BS1 6XG

2	Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

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

Going concern

The director has prepared the financial statements on the going concern basis which assumes that the company will have sufficient financial resources in order to meet its liabilities for a period of at least 12 months from the date of approving these financial statements. The company’s balance sheet shows significant net liabilities and includes significant debtors owing from group undertakings, and therefore the director has considered the support available from the wider group when completing this assessment.

Based on the support which the director expects to be available from the parent company and wider group, and taking into account the financial performance of the group since the year-end, the director considers it appropriate to prepare the financial statements on a going concern basis.

OMS International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

In general, the impact of the above on the company’s long term contracts is therefore that revenues are recognised only to the extent that the company obtains the right to consideration in exchange for its performance, by reference to the stage of completion. Stage of completion might be measured either according to the completion of certain contract milestones to which a fair proportion of total contract value has been allocated, or by an assessment of the costs incurred to date as a proportion of total estimated costs.

If the contract revenue to be recognised exceeds the amounts invoiced to date then accrued income arises. If recognised revenues are less then invoiced amount then the difference is shown as deferred income within liabilities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into sterling at the rates prevailing on the reporting period date.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Foreign exchange gains and losses are taken to profit and loss and classified within Administrative expenses.

OMS International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible fixed assets

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

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

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:

Computer equipment	33-50% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost and using the effective interest method if the balance is due in more than one year.

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

OMS International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits, including the cost of any unused holiday entitlement, are recognised as a liability and an expense in the period in which the employees' services are received.
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 8 (2023 - 7).

4	Prior year adjustment

The company's results for the year ended 31 December 2023 have been restated from the results previously reported. The adjustments are as follows:

Amounts owed from group undertakings included within creditors has been increased by £116,497 to correct the amount owed to the OMS International Limited by the parent company. The corresponding adjustment is to increase the amounts owed to group undertakings included within debtors. This has not had an effect on the profit.

OMS International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Tangible fixed assets

	Computer equipment  £
Cost
At 1 January 2024	44,786
Additions	2,417
At 31 December 2024	47,203
Depreciation
At 1 January 2024	24,299
Charge for the year	21,359
At 31 December 2024	45,658
Carrying amount
At 31 December 2024	1,545
At 31 December 2023	20,487

6	Debtors: amounts falling due within one year

	2024 £	(As restated) 2023 £
Trade debtors	137,383	24,572
Amounts owed by group undertakings	1,402,963	1,685,938
Other debtors	984	7,332
Accrued income	170,000	-
Director's loan accounts	11,496	43,453
Prepayments	550	-
	1,723,376	1,761,295

OMS International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

	Note	2024 £	(As restated) 2023 £
Amounts falling due within one year
Bank loans	8	8,519	7,518
Trade creditors		939,661	925,862
Amounts owed to group undertakings		1,086,498	1,401,543
Taxation and social security		80,108	13,931
Other creditors		7,720	25,905
Accruals and deferred income		59,750	45,696
		2,182,256	2,420,455

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	6,569	14,938