Omninet Technology Ltd - Period Ending 2016-03-31

Registration number: 08957460

Omninet Technology Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

HRJ Consultig (Chartered Certified Accountants)
14B Connaught Mews
Connaugth Road
Ilford
Essex
IG1 1RL

Omninet Technology Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Omninet Technology Ltd
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Omninet Technology Ltd for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Omninet Technology Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Omninet Technology Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Omninet Technology Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Omninet Technology Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Omninet Technology Ltd. You consider that Omninet Technology Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Omninet Technology Ltd. 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 accounts.

......................................

HRJ Consultig (Chartered Certified Accountants)
14B Connaught Mews
Connaugth Road
Ilford
Essex
IG1 1RL

3 June 2016

Page 1

Omninet Technology Ltd
(Registration number: 08957460)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £			31 March 2015 £
Fixed assets
Tangible fixed assets					1,802			2,402
Current assets
Cash at bank and in hand					3,796			16,757
Creditors: Amounts falling due within one year					-			(3,992)
Net current assets					3,796			12,765
Net assets					5,598			15,167
Capital and reserves
Profit and loss account					5,598			15,167
Shareholders' funds					5,598			15,167

For the year ending 31 March 2016 the company was entitled to exemption 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 director acknowledges her 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 director on 31 May 2016

.........................................
Ms Vivien Eneh
Director

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

Omninet Technology Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... 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 January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable 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
Computers	Straight Line Method at 25%

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.

Page 3

Omninet Technology Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		3,202			3,202
At 31 March 2016		3,202			3,202
Depreciation
At 1 April 2015		800			800
Charge for the year		600			600
At 31 March 2016		1,400			1,400
Net book value
At 31 March 2016		1,802			1,802
At 31 March 2015		2,402			2,402

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016						31 March 2015
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 4