Umega Sales Limited - Accounts to registrar (filleted) - small 22.3

Umega Sales Limited - Accounts to registrar (filleted) - small 22.3

UMEGA ESTATE AGENTS LIMITED - Company Information

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REGISTERED NUMBER: SC690316 (Scotland)









UMEGA SALES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

24TH FEBRUARY 2021 TO 31ST MARCH 2022





Russell & Russell
Chartered Accountants
4 Royal Crescent
Glasgow
G3 7SL








UMEGA SALES LIMITED (REGISTERED NUMBER: SC690316)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 24TH FEBRUARY 2021 TO 31ST MARCH 2022




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


UMEGA SALES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 24TH FEBRUARY 2021 TO 31ST MARCH 2022







DIRECTORS: A Whitmey
N McInnes





REGISTERED OFFICE: 10 Lister Square
Edinburgh
EH3 9GL





REGISTERED NUMBER: SC690316 (Scotland)





ACCOUNTANTS: Russell & Russell
Chartered Accountants
4 Royal Crescent
Glasgow
G3 7SL
Page 1
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
UMEGA SALES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Umega Sales Limited for the period ended 31st March 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Umega Sales Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Umega Sales Limited and state those matters that we have agreed to state to the Board of Directors of Umega Sales Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Umega Sales Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Umega Sales Limited. You consider that Umega Sales Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Umega Sales Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Russell & Russell
Chartered Accountants
4 Royal Crescent
Glasgow
G3 7SL


1st November 2022

This page does not form part of the statutory financial statements

Page 2
UMEGA SALES LIMITED (REGISTERED NUMBER: SC690316)

BALANCE SHEET
31ST MARCH 2022

Notes £   
CURRENT ASSETS
Debtors 4 13,761
Cash at bank 7,027
20,788
CREDITORS
Amounts falling due within one year 5 10,709
NET CURRENT ASSETS 10,079
TOTAL ASSETS LESS CURRENT
LIABILITIES
10,079

CAPITAL AND RESERVES
Called up share capital 6 2
Retained earnings 10,077
SHAREHOLDERS' FUNDS 10,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st November 2022 and were signed on its behalf by:





A Whitmey - Director


The notes on pages 4 to 5 form part of these financial statements

Page 3
UMEGA SALES LIMITED (REGISTERED NUMBER: SC690316)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 24TH FEBRUARY 2021 TO 31ST MARCH 2022

1. STATUTORY INFORMATION

Umega Sales Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents the sales value of work done during the year, exclusive of Value Added Tax.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

Page 4
UMEGA SALES LIMITED (REGISTERED NUMBER: SC690316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 24TH FEBRUARY 2021 TO 31ST MARCH 2022

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 10,055
Amounts owed by group undertakings 3,706
13,761

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 1,001
Amounts owed to group undertakings 5,723
Taxation and social security 2,500
Other creditors 1,485
10,709

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
2 Ordinary 1 2

7. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Umega Holdings Ltd. The directors, Neil McInnes and Andrew Whitmey, are the shareholders of Umega Holdings Ltd and they are therefore considered to be the ultimate
controlling party.

Umega Holdings Ltd is a company registered in Scotland and its company number is SC536774. Its registered office is 10 Lister Square, Edinburgh, EH3 9GL.

Page 5