Registration number:
Omninecs Europe Ltd
for the Year Ended 31 December 2024
Omninecs Europe Ltd
Contents
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Company Information |
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Director's Report |
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Abridged Statement of Financial Position |
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Statement of Changes in Equity |
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Notes to the Unaudited Abridged Financial Statements |
Omninecs Europe Ltd
Company Information
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Director |
Franco Alberici |
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Company secretary |
Lincoln Secretaries Limited |
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Registered office |
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Omninecs Europe Ltd
Director's Report for the Year Ended 31 December 2024
The director presents his report and the abridged financial statements for the year ended 31 December 2024.
Directors of the company
The directors who held office during the year were as follows:
The following directors were appointed after the year end:
Principal activity
The principal activity of the company is that of provision of consultancy services for software facilities.
Small companies provision statement
This report has 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.
Approved and authorised by the
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Omninecs Europe Ltd
(Registration number: 10434638)
Abridged Statement of Financial Position as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Accruals and deferred income |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
1,156 |
1,156 |
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Retained earnings |
(2,694,451) |
(302,956) |
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Shareholders' deficit |
(2,693,295) |
(301,800) |
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:
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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.
All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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Omninecs Europe Ltd
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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( |
( |
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Loss for the year |
- |
( |
( |
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At 31 December 2024 |
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( |
( |
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Share capital |
Retained earnings |
Total |
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At 1 January 2023 |
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( |
( |
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Loss for the year |
- |
( |
( |
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At 31 December 2023 |
1,156 |
(302,956) |
(301,800) |
Omninecs Europe Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 abridged 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 abridged 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 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.
Tangible assets
Tangible assets are stated in the statement of financial position 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.
Omninecs Europe Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
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:
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Asset class |
Depreciation method and rate |
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Computer equipment |
25% and 20% Straight line method |
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Fixtures & Furniture |
15% Straight line method |
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Machinery & Equipment |
15% Straight line method |
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.
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:
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Asset class |
Amortisation method and rate |
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Software |
20% Straight line method |
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Trademark |
20% Straight line method |
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Goodwill |
5.5% Straight line method |
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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Omninecs Europe Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Omninecs Europe Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
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Loss before tax |
Arrived at after charging/(crediting)
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2024 |
2023 |
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Depreciation expense |
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Amortisation expense |
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Omninecs Europe Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
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Intangible assets |
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Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Amortisation |
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At 1 January 2024 |
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Amortisation charge |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Tangible assets |
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Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
- |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the statement of financial position
Omninecs Europe Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
The total amount of financial commitments not included in the statement of financial position is €Nil (2023 - €
The Italian Revenue Agency deems the Company, to be jointly liable.
The Revenue Agency Collection Division have issued the following notifications , excluding any penalties and interest:
1. Payment notice No. 097 2022 01214421 79 501, value of the dispute ‚ €13,330.24.
2. Payment notice No. 097 2021 00995702 20 501, value of the dispute ‚€ 43,652.64.
3. Payment notice No. 097 2021 00587524 19 501, value of the dispute € 28,576.00.
4. Payment order No. 097 2023 91190288 10/000, value of the dispute € 613,518.44.
5. Payment order No. 097 2024 90756629 86/000, value of the dispute € 885,152.66.
All payment notices have been disputed with the Revenue Agency, and procedures are ongoing for hearings or awaiting explanations.
Th Revenue Agency issued a foreclosure order on the Company’s Unicredit bank account, and an amount of €116,066.15 was seized from their current account on May 16, 2024. The Company’s request to suspend the foreclosure was subsequently granted.
The Company believes that these taxes are not due and has appealed with the Tax Court of Justice, in Rome.
The Company has therefore considered these liabilities as still uncertain and difficult to precisely quantified and no provision has been made for them in the financial statements for the year ended 31 December 2023.
During 2024, the development of the litigation is being closely monitored and all tax liabilities will be allocated, if that will be the case.
Omninecs Europe Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
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Related party transactions |