ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

ONE STOP FINANCE GROUP LIMITED - Company Information

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Caseware UK (AP4) 2019.0.227 2019.0.227 2020-03-312020-03-31false2019-04-01No description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06877099 2019-04-01 2020-03-31 06877099 2018-04-01 2019-03-31 06877099 2020-03-31 06877099 2019-03-31 06877099 c:Director1 2019-04-01 2020-03-31 06877099 c:Director2 2019-04-01 2020-03-31 06877099 d:CurrentFinancialInstruments 2020-03-31 06877099 d:CurrentFinancialInstruments 2019-03-31 06877099 d:Non-currentFinancialInstruments 2020-03-31 06877099 d:Non-currentFinancialInstruments 2019-03-31 06877099 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 06877099 d:CurrentFinancialInstruments d:WithinOneYear 2019-03-31 06877099 d:ShareCapital 2020-03-31 06877099 d:ShareCapital 2019-03-31 06877099 d:RetainedEarningsAccumulatedLosses 2020-03-31 06877099 d:RetainedEarningsAccumulatedLosses 2019-03-31 06877099 c:OrdinaryShareClass1 2019-04-01 2020-03-31 06877099 c:OrdinaryShareClass1 2020-03-31 06877099 c:OrdinaryShareClass1 2019-03-31 06877099 c:OrdinaryShareClass2 2019-04-01 2020-03-31 06877099 c:OrdinaryShareClass2 2020-03-31 06877099 c:OrdinaryShareClass2 2019-03-31 06877099 c:OrdinaryShareClass3 2019-04-01 2020-03-31 06877099 c:OrdinaryShareClass3 2020-03-31 06877099 c:OrdinaryShareClass3 2019-03-31 06877099 c:OrdinaryShareClass4 2019-04-01 2020-03-31 06877099 c:OrdinaryShareClass4 2020-03-31 06877099 c:OrdinaryShareClass4 2019-03-31 06877099 c:FRS102 2019-04-01 2020-03-31 06877099 c:AuditExempt-NoAccountantsReport 2019-04-01 2020-03-31 06877099 c:FullAccounts 2019-04-01 2020-03-31 06877099 c:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06877099









ONE STOP FINANCE GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2020
 
ONE STOP FINANCE GROUP LIMITED
REGISTERED NUMBER: 06877099

BALANCE SHEET
AS AT 31 MARCH 2020

2020
2019
Note
£
£

Fixed assets
  

Investments
 4 
1
1

  
1
1

Current assets
  

Debtors: amounts falling due within one year
 5 
-
21,848

Cash at bank and in hand
 6 
56,450
10,076

  
56,450
31,924

Creditors: amounts falling due within one year
 7 
(36,953)
(11,849)

Net current assets
  
 
 
19,497
 
 
20,075

Total assets less current liabilities
  
19,498
20,076

  

Net assets
  
19,498
20,076


Capital and reserves
  

Called up share capital 
 8 
1,000
1,000

Profit and loss account
  
18,498
19,076

  
19,498
20,076


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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ONE STOP FINANCE GROUP LIMITED
REGISTERED NUMBER: 06877099
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2020

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 August 2020.




................................................
M Rolle
................................................
S Burkin
Director
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2
 
ONE STOP FINANCE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

1.


General information

One Stop Finance Group Limited is a private company limited by shares. The company is incorporated in England & Wales and its trading address is Elywood House, 42 Lytton Road, New Barnet, Herts, EN5 5BY. The registered number is 06877099.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
Page 3
 
ONE STOP FINANCE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

2.Accounting policies (continued)


2.7
Financial instruments (continued)

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2019
1



At 31 March 2020

1






Net book value



At 31 March 2020
1



At 31 March 2019
1

Page 4
 
ONE STOP FINANCE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

5.


Debtors

2020
2019
£
£


Amounts owed by group undertakings
-
21,848

-
21,848



6.


Cash and cash equivalents

2020
2019
£
£

Cash at bank and in hand
56,450
10,077

56,450
10,077



7.


Creditors: Amounts falling due within one year

2020
2019
£
£

Amounts owed to group undertakings
33,600
-

Accruals and deferred income
3,353
11,849

36,953
11,849



8.


Share capital

2020
2019
£
£
Allotted, called up and fully paid



447 (2019 - 447) A Ordinary shares of £1.00 each
447
447
1 (2019 - 1) B Ordinary share of £1.00
1
1
1 (2019 - 1) C Ordinary share of £1.00
1
1
1 (2019 - 1) D Ordinary share of £1.00
1
1
447 (2019 - 447) E Ordinary shares of £1.00 each
447
447
1 (2019 - 1) F Ordinary share of £1.00
1
1
1 (2019 - 1) G Ordinary share of £1.00
1
1
1 (2019 - 1) H Ordinary share of £1.00
1
1
100 (2019 - 100) I Ordinary shares of £1.00 each
100
100

1,000

1,000


Page 5
 
ONE STOP FINANCE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

9.


Transactions with directors

During the year, dividends of £48,677 (2019: £150,736)  were paid to the directors of the company.
 


10.


Related party transactions

At the balance sheet date, an amount of £33,600 (2019: £21,848 owed from) was owed to One Stop Finance Limited, a wholly owned subsidiary. This loan is unsecured, interest free and there are no set repayment terms.
During the year, dividends totalling £48,677 (2019: £150,736) were received from One Stop Finance Limited, a wholly owned subsidiary. 






 
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