Onecow Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06913784 (England and Wales)

Financial Statements for the Year Ended 31st May 2018

for

Onecow Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L Gillian

REGISTERED OFFICE:

Suite 540, 5th Floor,

Linen Hall

162- 168 Regent Street

London

W1B 5TF

REGISTERED NUMBER:

06913784 (England and Wales)

ACCOUNTANTS:

City, Chartered Accountants

Suite 540, 5th Floor,

Linen Hall

162- 168 Regent Street

London

W1B 5TF

FIXED ASSETS

Tangible assets

4

1,235

2,241

CURRENT ASSETS

Stocks

9,629

-

Debtors

5

8,371

27,957

Cash at bank

3,693

1,745

21,693

29,702

CREDITORS

Amounts falling due within one year

6

22,264

25,958

NET CURRENT (LIABILITIES)/ASSETS

(571

)

3,744

TOTAL ASSETS LESS CURRENT LIABILITIES

664

5,985

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

654

5,975

SHAREHOLDERS' FUNDS

664

5,985

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28th February 2019 and were signed by:

L Gillian - Director

1.	STATUTORY INFORMATION

Onecow Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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 etc

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st June 2017

and 31st May 2018

10,634

DEPRECIATION

At 1st June 2017

8,393

Charge for year

1,006

At 31st May 2018

9,399

NET BOOK VALUE

At 31st May 2018

1,235

At 31st May 2017

2,241

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade debtors

8,186

27,957

Other debtors

185

-

8,371

27,957

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade creditors

10,953

2,757

Taxation and social security

9,061

11,559

Other creditors

2,250

11,642

22,264

25,958

7.	RELATED PARTY DISCLOSURES

During the year Mr L Gillian was the ultimate controlling party, a Director and the majority

shareholder of the company. He received a dividend of £23,833 for the year ended 31 May 2018

(2017: £24,000).

As at 31st May 2018 L Gillian owed the company £185.