Omni Systems Ltd - Period Ending 2015-03-31

Company registration number: 06493697

Omni Systems Ltd
 
  Annual Report and Unaudited Abbreviated Accounts
 
  Year Ended 31 March 2015
 

Beresfords
  Chartered Accountants
  Castle House
  Castle Hill Avenue
  Folkestone
  Kent
  CT20 2TQ

Omni Systems Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Omni Systems Ltd
(Company registration number: 06493697)
Abbreviated Balance Sheet
31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					2,131			2,585
Current assets
Debtors					1,865			25,663
Cash at bank and in hand					38,162			32,997
					40,027			58,660
Creditors: Amounts falling due within one year					(3,877)			(1,347)
Net current assets					36,150			57,313
Total assets less current liabilities					38,281			59,898
Provisions for liabilities					(517)			(517)
Net assets					37,764			59,381
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					37,762			59,379
Shareholders' funds					37,764			59,381

The notes on pages 3 to 4 form an integral part of these financial statements.
 
  Page 1

Omni Systems Ltd
(Company registration number: 06493697)
Abbreviated Balance Sheet
31 March 2015......... continued

For the year ending 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 30 December 2015 and signed on its behalf by:

......................................... Mr R Kremers Director

The notes on pages 3 to 4 form an integral part of these financial statements.
 
  Page 2

Omni Systems Ltd
Notes to the Abbreviated Accounts
Year Ended 31 March 2015......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures & fittings	20% straight line
Office equipment	20% straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Page 3

Omni Systems Ltd
Notes to the Abbreviated Accounts
Year Ended 31 March 2015......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		6,067			6,067
Additions		744			744
At 31 March 2015		6,811			6,811
Depreciation
At 1 April 2014		3,482			3,482
Charge for the year		1,198			1,198
At 31 March 2015		4,680			4,680
Net book value
At 31 March 2015		2,131			2,131
At 31 March 2014		2,585			2,585

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

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