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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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Omega Financial Planning Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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Omega Financial Planning Limited |
Omega Financial Planning Limited (Registered number: 07342892) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Omega Financial Planning Limited |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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10 Cheyne Walk |
Northampton |
Northamptonshire |
NN1 5PT |
Omega Financial Planning Limited (Registered number: 07342892) |
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Abridged Balance Sheet |
31 December 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Omega Financial Planning Limited (Registered number: 07342892) |
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Abridged Balance Sheet - continued |
31 December 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Omega Financial Planning Limited (Registered number: 07342892) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Omega Financial Planning Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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The financial statements contain information for Omega Financial Planning Limited as an individual |
company. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
No significant judgements have had to be made by management in preparing these financial |
statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - | 50% on cost and 25% on cost |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive income |
or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have |
been enacted or substantively enacted by the balance sheet date. |
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Omega Financial Planning Limited (Registered number: 07342892) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that |
are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is |
probable that they will be recovered against the reversal of deferred tax liabilities or other future |
taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the |
recognition of financial assets and liabilities like trade and other accounts receivable and payable, |
loans from banks and other third parties and loans to related parties. |
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Debt instruments like loans and other accounts receivable and payable are initially measured at |
present value of the future payments and subsequently at amortised cost using the effective interest |
method; Debt instruments that are payable or receivable within one year, typically trade payables or |
receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or |
other consideration expected to be paid or received. However if the arrangements of a short-term |
instrument constitute a financing transaction, like the payment of a trade debt deferred beyond |
normal business terms or financed at a rate of interest that is not a market rate or in case of an |
outright short-term loan not at market rate, the financial asset or liability is measured, initially and |
subsequently, at the present value of the future payments discounted at a market rate of interest for |
a similar debt instrument. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Omega Financial Planning Limited (Registered number: 07342892) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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6. | ULTIMATE CONTROLLING PARTY |
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Mr G Osborne controls the company by virtue of his shareholding. |