Omega Citylifts Services Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03285803 (England and Wales)

OMEGA CITYLIFTS SERVICES LIMITED

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M Fuller

SECRETARY:

N A Fuller

REGISTERED OFFICE:

Weltech Centre

Ridgeway

Welwyn Garden City

Hertfordshire

AL7 2AA

REGISTERED NUMBER:

03285803 (England and Wales)

ACCOUNTANTS:

C S Pomroy & Co

Chartered Accountants

Weltech Centre

Ridgeway

Welwyn Garden City

Hertfordshire

AL7 2AA

FIXED ASSETS

Intangible assets

2

34,000

-

Tangible assets

3

70,260

-

104,260

-

CURRENT ASSETS

Debtors

235,162

184,823

Cash at bank and in hand

99,620

65,557

334,782

250,380

CREDITORS

Amounts falling due within one year

331,060

249,188

NET CURRENT ASSETS

3,722

1,192

TOTAL ASSETS LESS CURRENT LIABILITIES

107,982

1,192

CREDITORS

Amounts falling due after more than one year

(32,869

)

-

PROVISIONS FOR LIABILITIES

(12,500

)

-

NET ASSETS

62,613

1,192

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

62,611

1,190

SHAREHOLDERS' FUNDS

62,613

1,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 22 June 2016 and were signed by:

M Fuller - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. In

accordance with FRS18, the company has recognised income for annual lift maintenance

contracts over the period of the agreement.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Motor vehicles

-

33% on cost

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of

exchange ruling at the balance sheet date. Transactions in foreign currencies are translated

into sterling at the rate of exchange ruling at the date of transaction. Exchange differences

are taken into account in arriving at the operating result.

Stocks and contracts in progress

Stocks and contracts in progress are valued at the lower of cost, inclusive of appropriate

overheads and estimated net realisable value. Profit on contracts in progress over the year

end is recognised by reference to the percentage of completion on the contract, provided

that the outcome of the contract can be assessed with reasonable certainty. Advance

payments received from customers are shown in creditors.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

40,000

At 31 December 2015

40,000

AMORTISATION

Amortisation for year

6,000

At 31 December 2015

6,000

NET BOOK VALUE

At 31 December 2015

34,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

96,979

At 31 December 2015

96,979

DEPRECIATION

Charge for year

26,719

At 31 December 2015

26,719

NET BOOK VALUE

At 31 December 2015

70,260

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary shares

£1

2

2