Omnia Limited 31/01/2019 iXBRL

Omnia Limited 31/01/2019 iXBRL

OMNIA LIMITED - Company Information

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31/01/2019 2019-01-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2018-02-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 05015153 2018-02-01 2019-01-31 05015153 2019-01-31 05015153 2018-01-31 05015153 bus:Director1 2018-02-01 2019-01-31 05015153 core:WithinOneYear 2019-01-31 05015153 core:WithinOneYear 2018-01-31 05015153 core:ShareCapital 2019-01-31 05015153 core:ShareCapital 2018-01-31 05015153 core:RetainedEarningsAccumulatedLosses 2019-01-31 05015153 core:RetainedEarningsAccumulatedLosses 2018-01-31 05015153 bus:Director1 2018-01-31 05015153 bus:Director1 2019-01-31 05015153 bus:Director1 2017-01-31 05015153 bus:Director1 2018-01-31 05015153 bus:Director1 2017-02-01 2018-01-31 05015153 bus:SmallEntities 2018-02-01 2019-01-31 05015153 bus:AuditExemptWithAccountantsReport 2018-02-01 2019-01-31 05015153 bus:FullAccounts 2018-02-01 2019-01-31 05015153 bus:SmallCompaniesRegimeForAccounts 2018-02-01 2019-01-31 05015153 bus:PrivateLimitedCompanyLtd 2018-02-01 2019-01-31
Company registration number: 05015153
Omnia Limited
Unaudited filleted financial statements
31 January 2019
OMNIA LIMITED
Contents
Statement of financial position
Notes to the financial statements
OMNIA LIMITED
STATEMENT OF FINANCIAL POSITION
31 JANUARY 2019
30/01/19 30/01/18
Note £ £ £ £
Current assets
Stocks 443,576 -
Debtors 5 4,515 16,592
Cash at bank and in hand 3,167 47,196
_______ _______
451,258 63,788
Creditors: amounts falling due
within one year 6 ( 421,751) ( 17,712)
_______ _______
Net current assets 29,507 46,076
_______ _______
Total assets less current liabilities 29,507 46,076
_______ _______
Net assets 29,507 46,076
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 7 29,505 46,074
_______ _______
Shareholder funds 29,507 46,076
_______ _______
For the year ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 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 29 October 2019 , and are signed on behalf of the board by:
Mr G Easson
Director
Company registration number: 05015153
OMNIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2019
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Plym House, 3 Longbridge Road, Marsh Mills, Plymouth, PL6 8LT.
Principal activity
The principal activity of the company were those to develop and sell property and also letting property.
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.The financial statements are prepared in sterling, which is the functional currency of the entity.
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.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes.
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.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
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.
4. Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to Nil (2018: Nil).
5. Debtors
30/01/19 30/01/18
£ £
Other debtors 4,515 16,592
_______ _______
6. Creditors: amounts falling due within one year
30/01/19 30/01/18
£ £
Bank loans and overdrafts 395,192 576
Accruals and deferred income 6,240 3,024
Social security and other taxes 14,112 14,112
Other creditors 6,207 (-)
_______ _______
421,751 17,712
_______ _______
The loan of £303,041 is secured on the property held within stock.
7. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Loans to / (from) director at 1 February 2018 Loans to / (from) the director Amounts repaid Balance at 31 January 2019
£ £ £ £
Director 9,524 ( 17,831) 2,100 ( 6,207)
_______ _______ _______ _______
Loans to / (from) director at 1 February 2017 Loans to / (from) the director Amounts repaid Balance at 31 January 2018
£ £ £ £
Director ( 11,181) - 20,705 9,524
_______ _______ _______ _______