On-Systems Limited - Accounts to registrar (filleted) - small 18.2
On-Systems Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2019 |
| FOR |
| ON-SYSTEMS LIMITED |
| ON-SYSTEMS LIMITED (REGISTERED NUMBER: 07640533) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| ON-SYSTEMS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Croft Chambers |
| 11 Bancroft |
| Hitchin |
| Hertfordshire |
| SG5 1JQ |
| ON-SYSTEMS LIMITED (REGISTERED NUMBER: 07640533) |
| STATEMENT OF FINANCIAL POSITION |
| 31 MAY 2019 |
| 31.5.19 | 31.5.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| ON-SYSTEMS LIMITED (REGISTERED NUMBER: 07640533) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 MAY 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director on |
| ON-SYSTEMS LIMITED (REGISTERED NUMBER: 07640533) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2019 |
| 1. | STATUTORY INFORMATION |
| On-Systems Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis with assurance from the |
| directors/shareholders. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets include capitalised development expenditure and are initially measured at cost. After initial |
| recognition, intangible assets are measured at cost less any accumulated amortization and any accumulated |
| impairment losses. |
| Development costs are being amortized over their estimated useful life of 10 years. Subject to an annual |
| impairment review. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance |
| for obsolete and slow moving items. |
| 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. |
| 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. |
| 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 |
| ON-SYSTEMS LIMITED (REGISTERED NUMBER: 07640533) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2019 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 June 2018 |
| Additions |
| At 31 May 2019 |
| AMORTISATION |
| At 1 June 2018 |
| Charge for year |
| At 31 May 2019 |
| NET BOOK VALUE |
| At 31 May 2019 |
| At 31 May 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 June 2018 |
| and 31 May 2019 |
| DEPRECIATION |
| At 1 June 2018 |
| Charge for year |
| At 31 May 2019 |
| NET BOOK VALUE |
| At 31 May 2019 |
| At 31 May 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.19 | 31.5.18 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 7,361 | 1,645 |
| Tax |
| VAT |
| ON-SYSTEMS LIMITED (REGISTERED NUMBER: 07640533) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2019 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.19 | 31.5.18 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Other taxes | 3 | 3 |
| Social security and other taxes |
| VAT | - | 9,678 |
| Accruals and deferred income |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.19 | 31.5.18 |
| £ | £ |
| Other creditors |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 May 2019 and |
| 31 May 2018: |
| 31.5.19 | 31.5.18 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 10. | ULTIMATE CONTROLLING PARTY |
| The directors are jointly the ultimate controlling party by virtue of their shareholdings. |