Onegin Ventures Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06758665 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

ONEGIN VENTURES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms B D Garcia

REGISTERED OFFICE:

34a Watling Street

Radlett

Hertfordshire

WD7 7NN

REGISTERED NUMBER:

06758665 (England and Wales)

ACCOUNTANTS:

Daniel Wolfson & Co Ltd

Chartered Accountants

34a Watling Street

Radlett

Hertfordshire

WD7 7NN

FIXED ASSETS

Property, plant and equipment

3

990

1,980

Investments

4

18,600

Investment property

5

150,000

169,590

170,580

CURRENT ASSETS

Debtors

6

62

59

Cash at bank

85

218

147

277

CREDITORS

Amounts falling due within one year

7

79,682

92,417

NET CURRENT LIABILITIES

(79,535

)

(92,140

)

TOTAL ASSETS LESS CURRENT LIABILITIES

90,055

78,440

CREDITORS

Amounts falling due after more than one year

8

(125,452

)

(115,000

)

PROVISIONS FOR LIABILITIES

9

(3,839

)

(3,839

)

NET LIABILITIES

(39,236

)

(40,399

)

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

10

16,367

Retained earnings

(55,703

)

(56,866

)

SHAREHOLDERS' FUNDS

(39,236

)

(40,399

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 30 August 2019 and were signed by:

Ms B D Garcia - Director

1.	STATUTORY INFORMATION

Onegin Ventures Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

10% on cost

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.

Going concern

These accounts have been prepared on a going concern basis given the continued support of the director.

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate

determined by the director. The director has used observable market prices, adjusted if necessary for any difference in the

nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account.

3.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 December 2017

and 30 November 2018

9,900

DEPRECIATION

At 1 December 2017

7,920

Charge for year

990

At 30 November 2018

8,910

NET BOOK VALUE

At 30 November 2018

990

At 30 November 2017

1,980

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 December 2017

and 30 November 2018

18,600

NET BOOK VALUE

At 30 November 2018

18,600

At 30 November 2017

18,600

The fixed asset investment represents a 100% shareholding in Tecma GmbH, a company incorporated in Germany.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2017

and 30 November 2018

150,000

NET BOOK VALUE

At 30 November 2018

150,000

At 30 November 2017

150,000

The investment property has been valued at the balance sheet date by the director, who believes the carrying value to be its fair

value.

Fair value at 30 November 2018 is represented by:

£

Valuation in 2016

21,702

Valuation in 2017

(1,496

)

Cost

129,794

150,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Prepayments and accrued income

62

59

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Trade creditors

-

1,273

Amount due to related undertaking

67,703

80,269

Director's current account

10,779

9,675

Accruals and deferred income

1,200

79,682

92,417

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

Other creditors

125,452

115,000

9.	PROVISIONS FOR LIABILITIES

2018

2017

£

Deferred tax

3,839

Deferred

tax

£

Balance at 1 December 2017

3,839

Balance at 30 November 2018

3,839

10.

RESERVES

Revaluation

reserve

£

At 1 December 2017

and 30 November 2018

16,367

11.	RELATED PARTY DISCLOSURES

During the year, Onegin Ventures Ltd rented property to Osbourne Store Ltd, a company in which Miss B D Garcia is a director.

Rent was agreed at a market rate of £18,000 p.a. (2017 - £18,000), with provision for future rent reviews. At the year end,

Onegin Ltd owed Osbourne Store Ltd £67,703 (LY: £80,269).

12.	ULTIMATE CONTROLLING PARTY

Mr C T Prikker is the company's ultimate controlling party by virtue of his 100% shareholding.

Onegin Ventures Limited - Accounts to registrar (filleted) - small 18.2

Onegin Ventures Limited - Accounts to registrar (filleted) - small 18.2