Omicways Limited - Abbreviated accounts 16.1
Omicways Limited - Abbreviated accounts 16.1
| DRAFT |
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 December 2015 |
| for |
| Omicways Limited |
| Omicways Limited (Registered number: 00897115) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 December 2015 |
| DRAFT |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Omicways Limited |
| Company Information |
| for the Year Ended 31 December 2015 |
| DRAFT |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Omicways Limited (Registered number: 00897115) |
| Abbreviated Balance Sheet |
| 31 December 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| DRAFT |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Share premium |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors on |
| Omicways Limited (Registered number: 00897115) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 December 2015 |
| DRAFT |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January |
| 2015). |
| Turnover |
| Turnover represents the net amount derived from the provision of goods, excluding value added tax. Revenue is |
| recognised when the right to consideration is obtained through performance of contractual obligations. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investment property |
| Investment properties are revalued annually at their open market value in accordance with the FRSSE (effective |
| January 2015). The surplus or deficit on revaluation is transferred to a revaluation reserve except where the |
| deficit reduces the property below historic cost, in which case it is taken to the profit and loss account. |
| No depreciation is provided on investment properties, which is a departure from the requirements of the |
| Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment |
| potential and so their current value is more significant than any measure of consumption and to depreciate them |
| would not give a true and fair view. The provisions of the FRSSE (effective January 2015) in respect of |
| investment properties have therefore been adopted in order to give a true and fair view. If this departure from the |
| Act had not been made, the profit for the year would have been reduced by depreciation. |
| However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise |
| have been shown cannot be separately identified or quantified. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| 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. |
| Leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution scheme. The assets of the scheme are held separately |
| from those of the company in an independently administered fund. Contributions payable for the year are |
| charged in the profit and loss account. |
| The amount paid into the scheme during the period was £Nil (2014: £Nil). |
| No contributions were payable to the fund at the period end (2014: £Nil). |
| Omicways Limited (Registered number: 00897115) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 December 2015 |
| DRAFT |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2015 |
| Additions |
| Disposals | ( |
) |
| Reclassification/transfer | ( |
) |
| At 31 December 2015 |
| DEPRECIATION |
| At 1 January 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2015 |
| NET BOOK VALUE |
| At 31 December 2015 |
| At 31 December 2014 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 January 2015 |
| Additions |
| Disposals | ( |
) |
| Revaluations | ( |
) |
| Reclassification/transfer |
| At 31 December 2015 |
| NET BOOK VALUE |
| At 31 December 2015 |
| At 31 December 2014 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |
| Ordinary A | £1 |
| 19,764 | 19,764 |
| The £1 ordinary A shares have no voting rights but in all other respects have the same rights as the ordinary £1 |
| shares. |