Omega Projects Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09363526

Omega Projects Limited

Filleted Unaudited Financial Statements

31 December 2024

Omega Projects Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		3,474	4,713

Current assets

Debtors	6	477	2,837
Cash at bank and in hand		26,035	41,139
		--------	--------
		26,512	43,976

Creditors: amounts falling due within one year	7	( 21,504)		( 33,964)
		--------		--------
Net current assets			5,008	10,012
			--------	--------
Total assets less current liabilities			8,482	14,725

Creditors: amounts falling due after more than one year	8		( 3,499)	( 9,337)

Provisions

Taxation including deferred tax	( 660)	( 895)
	--------	--------
Net assets	4,323	4,493
	--------	--------

Capital and reserves

Called up share capital		100	100
Profit and loss account	9	4,223	4,393
		--------	--------
Shareholders funds		4,323	4,493
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 23 September 2025 , and are signed on behalf of the board by:

A J Halkett
Director

Company registration number: 09363526

Omega Projects Limited

Notes to the Financial Statements

Year Ended 31st December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15-17 High Street, West Cowick, Goole, DN14 9EB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset is realised.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Office equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash Short-term trade and other debtors and creditors Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. 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 profit and loss account before operating profit.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Plant and machinery	Office equipment	Total
	£	£	£
Cost
At 1st January 2024 and 31st December 2024	17,021	10,235	27,256
	--------	--------	--------
Depreciation
At 1st January 2024	13,072	9,471	22,543
Charge for the year	591	648	1,239
	--------	--------	--------
At 31st December 2024	13,663	10,119	23,782
	--------	--------	--------
Carrying amount
At 31st December 2024	3,358	116	3,474
	--------	--------	--------
At 31st December 2023	3,949	764	4,713
	--------	--------	--------

6. Debtors

	2024	2023
	£	£
Trade debtors	–	2,220
Other debtors	477	617
	--------	--------
	477	2,837
	--------	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	5,802	5,649
Corporation tax	8,264	21,877
Social security and other taxes	3,867	2,858
Other creditors	3,571	3,580
	--------	--------
	21,504	33,964
	--------	--------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	3,499	9,337
	--------	--------

9. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

10. Director's advances, credits and guarantees

No advances were made to the director during the year and no amounts in respect of advances to the director were outstanding at the year end. The company has not provided any guarantees on behalf of the director during the year.