Onyx Project Services Ltd 28/02/2025 iXBRL

Company registration number: 04424195

Onyx Project Services Ltd

Filleted financial statements

28 February 2025

Contents

Directors and other information

Directors responsibilities statement

Statement of financial position

Notes to the financial statements

Onyx Project Services Ltd

Directors and other information


	Directors	K Blunt
		M Harvey
		S J Thompson


	Company number	04424195


	Registered office	Suite 1a North Sands Business Centre
		Liberty Way
		Sunderland
		England
		SR6 0QA


	Auditor	Carson & Trotter
		123 Irish Street
		Dumfries
		DG1 2PE

Onyx Project Services Ltd

Directors responsibilities statement

Year ended 28th February 2025

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Onyx Project Services Ltd

Statement of financial position

28th February 2025

		28/02/25		28/02/24
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	61,909		9,050
		_______		_______
			61,909		9,050

Current assets
Stocks	7	90,035		257,235
Debtors	8	413,598		484,630
Cash at bank and in hand		2,055,338		575,950
		_______		_______
		2,558,971		1,317,815
Creditors: amounts falling due
within one year	9	( 1,327,812)		( 583,436)
		_______		_______
Net current assets			1,231,159		734,379
			_______		_______
Total assets less current liabilities			1,293,068		743,429

Creditors: amounts falling due
after more than one year	10		( 33,202)		-

Provisions for liabilities			( 15,033)		24,492

			_______		_______
Net assets			1,244,833		767,921
			_______		_______

Capital and reserves
Called up share capital	11		200		100
Capital redemption reserve			50		50
Profit and loss account			1,244,583		767,771
			_______		_______
Shareholders funds			1,244,833		767,921
			_______		_______

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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

K Blunt

Director

Company registration number: 04424195

Onyx Project Services Ltd

Notes to the financial statements

Year ended 28th February 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Suite 1a North Sands Business Centre, Liberty Way, Sunderland, England, SR6 0QA.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Exceptional items

Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Patents	-	fully amortised

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Freehold property	-	44.44 %	straight line
Office equipment	-	33 %	straight line
Fixtures and fittings	-	33 %	straight line
Motor vehicles	-	25 %	straight line
Plant and machinery	-	66 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .

Impairment

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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Work in progress

The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred.

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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 17 (2024: 10 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 29th February 2024 and 28th February 2025	10,593	10,593
	_______	_______
Amortisation
At 29th February 2024 and 28th February 2025	10,593	10,593
	_______	_______
Carrying amount
At 28th February 2025	-	-
	_______	_______
At 28th February 2024	-	-
	_______	_______

6. Tangible assets

	Freehold property	Office equipment	Fixtures and fittings	Motor vehicles	Plant and machinery	Total
	£	£	£	£	£	£
Cost
At 29th February 2024	4,000	28,241	1,050	21,500	-	54,791
Additions	-	10,073	-	61,140	762	71,975
Disposals	-	-	-	( 21,500)	-	( 21,500)
	_______	_______	_______	_______	_______	_______
At 28th February 2025	4,000	38,314	1,050	61,140	762	105,266
	_______	_______	_______	_______	_______	_______
Depreciation
At 29th February 2024	-	23,454	787	21,500	-	45,741
Charge for the year	2,222	4,913	263	11,464	254	19,116
Disposals	-	-	-	( 21,500)	-	( 21,500)
	_______	_______	_______	_______	_______	_______
At 28th February 2025	2,222	28,367	1,050	11,464	254	43,357
	_______	_______	_______	_______	_______	_______
Carrying amount
At 28th February 2025	1,778	9,947	-	49,676	508	61,909
	_______	_______	_______	_______	_______	_______
At 28th February 2024	4,000	4,787	263	-	-	9,050
	_______	_______	_______	_______	_______	_______

7. Stocks

	28/02/25	28/02/24
	£	£
Work in progress	86,894	256,703
Stock	3,141	532
	_______	_______
	90,035	257,235
	_______	_______

8. Debtors

	28/02/25	28/02/24
	£	£
Trade debtors	329,791	468,514
Amounts owed by group undertakings and undertakings in which the company has a participating interest	40,068	-
Other debtors	43,739	16,116
	_______	_______
	413,598	484,630
	_______	_______

9. Creditors: amounts falling due within one year

	28/02/25	28/02/24
	£	£
Trade creditors	295,736	135,572
Amounts owed to group undertakings and undertakings in which the company has a participating interest	500	500
Corporation tax	123,750	-
Social security and other taxes	155,809	125,314
Other creditors	752,017	322,050
	_______	_______
	1,327,812	583,436
	_______	_______

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

	28/02/25	28/02/24
	£	£
Other creditors	33,202	-
	_______	_______

11. Called up share capital

Issued, called up and fully paid

	28/02/25		28/02/24
	No	£	No	£
Ordinary A shares shares of £ 1.00 each	100	100	100	100
Ordinary B shares shares of £ 1.00 each	100	100	-	-
	_______	_______	_______	_______
	200	200	100	100
	_______	_______	_______	_______

12. Summary audit opinion

The auditor's report dated 01 October 2025 was unqualified.

The senior statutory auditor was Gillian K Gray BAcc CA for and on behalf of Carson & Trotter

13. Related party transactions

During the year, sales were made of £7,930 to one of the directors, K Blunt , in respect of a motor vehicle purchased.

14. Controlling party

At the year end, the company's immediate and ultimate parent is Omnia Group Holdings Limited, company number 09386662, incorporated in England and Wales. The registered office address of Omnia Group Holdings Limited is 6 Clover Crescent, Calverley, Pudsley, England, LS28 5SZ. Financial statements for this parent are available upon request from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.