Ombra Nera Limited Small abridged accounts

OMBRA NERA LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Ombra Nera Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 May 2018 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 08034892

Ombra Nera Limited

Filleted Unaudited Abridged Financial Statements

31 May 2018

Ombra Nera Limited

Abridged Financial Statements

Year ended 31 May 2018

Contents	Page

Officers and professional advisers	1

Abridged statement of financial position	2

Notes to the abridged financial statements	4

The following pages do not form part of the abridged financial statements

Chartered tax advisers report to the board of directors on the preparation of the unaudited statutory abridged financial statements	9

Ombra Nera Limited

Officers and Professional Advisers

The board of directors	Mr P Cavaciuti
	Mrs R Cavaciuti

Company secretary	JWA Registrars Limited

Registered office	31 Percy Street
	London
	W1T 2DD

Accountants	John Walsh Associates LLP
	Chartered Tax Advisers
	31 Percy Street
	London
	W1T 2DD

Bankers	Lloyds Bank Plc
	North Middlesex Group
	1 Legg St
	Chelmsford
	Essex
	CM1 1JS

Ombra Nera Limited

Abridged Statement of Financial Position

31 May 2018

	2018	2017
Note	£	£

Fixed assets

Intangible assets	5	108,000	135,000
Tangible assets	6	189,046	213,287
		---------	---------
		297,046	348,287

Current assets

Debtors	10,198	20,653
Cash at bank and in hand	261,735	219,450
	---------	---------
	271,933	240,103

Creditors: amounts falling due within one year	327,459	357,613
	---------	---------
Net current liabilities	55,526	117,510
	---------	---------
Total assets less current liabilities	241,520	230,777
	---------	---------
Net assets	241,520	230,777
	---------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	240,520	229,777
	---------	---------
Shareholders funds	241,520	230,777
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

Ombra Nera Limited

Abridged Statement of Financial Position (continued)

31 May 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 10 January 2019 , and are signed on behalf of the board by:

Mr P Cavaciuti
Director

Company registration number: 08034892

Ombra Nera Limited

Notes to the Abridged Financial Statements

Year ended 31 May 2018

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 31 Percy Street, London, W1T 2DD.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & fittings	-	10% straight line
Motor Vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Intangible assets

	£
Cost
At 1 June 2017 and 31 May 2018	270,000
	---------
Amortisation
At 1 June 2017	135,000
Charge for the year	27,000
	---------
At 31 May 2018	162,000
	---------
Carrying amount
At 31 May 2018	108,000
	---------
At 31 May 2017	135,000
	---------

6. Tangible assets

	£
Cost
At 1 June 2017	425,873
Additions	17,171
Disposals	( 14,500)
	---------
At 31 May 2018	428,544
	---------
Depreciation
At 1 June 2017	212,586
Charge for the year	41,412
Disposals	( 14,500)
	---------
At 31 May 2018	239,498
	---------
Carrying amount
At 31 May 2018	189,046
	---------
At 31 May 2017	213,287
	---------

7. Related party transactions

The company was under the control of Mr Peter Cavaciuti throughout the current and previous year. Mr Peter Cavaciuti is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS102.

Ombra Nera Limited

Management Information

Year ended 31 May 2018

The following pages do not form part of the abridged financial statements.

Ombra Nera Limited

Chartered Tax Advisers Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Ombra Nera Limited

Year ended 31 May 2018

As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 31 May 2018, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

John Walsh Associates LLP Chartered Tax Advisers

31 Percy Street London W1T 2DD

10 January 2019