Abbreviated Company Accounts - OMEGA AUCTIONS LTD

Abbreviated Company Accounts - OMEGA AUCTIONS LTD

OMEGA AUCTIONS LTD - Company Information

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Registered Number 07279041

OMEGA AUCTIONS LTD

Abbreviated Accounts

31 March 2016

OMEGA AUCTIONS LTD Registered Number 07279041

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 21,936 3,744
21,936 3,744
Current assets
Stocks 75,310 47,944
Debtors 14,090 35,226
Cash at bank and in hand 237,696 119,613
327,096 202,783
Creditors: amounts falling due within one year (227,660) (128,567)
Net current assets (liabilities) 99,436 74,216
Total assets less current liabilities 121,372 77,960
Creditors: amounts falling due after more than one year (9,542) -
Total net assets (liabilities) 111,830 77,960
Capital and reserves
Called up share capital 2 2
Profit and loss account 111,828 77,958
Shareholders' funds 111,830 77,960
  • 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 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 14 December 2016

And signed on their behalf by:
Mrs K Fairweather, Director
Mr P Fairweather, Director

OMEGA AUCTIONS LTD Registered Number 07279041

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

2Tangible fixed assets
£
Cost
At 1 April 2015 9,285
Additions 23,403
Disposals (7,150)
Revaluations -
Transfers -
At 31 March 2016 25,538
Depreciation
At 1 April 2015 5,541
Charge for the year 4,467
On disposals (6,406)
At 31 March 2016 3,602
Net book values
At 31 March 2016 21,936
At 31 March 2015 3,744