Ontrak Community Initiative Ltd
Ontrak Community Initiative Ltd
Registered number: 07972848
Unaudited Financial Statements
For The Year Ended 31 March 2019
AFFIRM ACCOUNTANCY SERVICES LIMITED
ICAEW
76 MARKET STREET
FARNWORTH
BOLTON
BL4 7NY
Ontrak Community Initiative Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Ontrak Community Initiative Ltd
Balance Sheet
As at
31 March 2019
Balance Sheet
Registered number:
07972848
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Stocks | 4 |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Provisions For Charges |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Revaluation reserve | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 147,928 | 156,089 | |||
Page 1
Ontrak Community Initiative Ltd
Balance Sheet (continued)
As at
31 March 2019
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Ontrak Community Initiative Ltd
Notes to the Financial Statements
For The Year Ended 31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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1.4.
Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Ontrak Community Initiative Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2019 | 2018 | ||
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| Office and administration |
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| Sales, marketing and distribution |
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3.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at |
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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4.
Stocks
| 2019 | 2018 | ||
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| £ | £ | ||
| Stock - materials and work in progress | 11,229 | 36,542 | |
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Page 4
Ontrak Community Initiative Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
5.
Debtors
| 2019 | 2018 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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6.
Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Trade creditors |
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| VAT |
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| Accruals and deferred income |
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| Directors' loan accounts |
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7.
Reserves
| Revaluation Reserve | |
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| £ | |
| As at |
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| As at |
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8.
General Information
Ontrak Community Initiative Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07972848 . The registered office is ST ENOCH'S GARAGE ST ENOCH'S ROAD, WIBSEY, BRADFORD, WEST YORKSHIRE, BD6 3BU.
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