Ownside Limited - Accounts to registrar (filleted) - small 18.2
Ownside Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 30 June 2020 |
for |
Ownside Limited |
Ownside Limited (Registered number: 03265877) |
Contents of the Financial Statements |
For The Year Ended 30 June 2020 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Ownside Limited |
Company Information |
For The Year Ended 30 June 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Goodridge Court |
Goodridge Avenue |
Gloucester |
Gloucestershire |
GL2 5EN |
BANKERS: |
21 Eastgate Street |
Gloucester |
GL1 1NY |
Ownside Limited (Registered number: 03265877) |
Abridged Balance Sheet |
30 June 2020 |
30.6.20 | 30.6.19 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
Cash in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
Ownside Limited (Registered number: 03265877) |
Abridged Balance Sheet - continued |
30 June 2020 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Ownside Limited (Registered number: 03265877) |
Notes to the Financial Statements |
For The Year Ended 30 June 2020 |
1. | STATUTORY INFORMATION |
Ownside Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is recognised at the fair value of the consideration received or receivable for services provided relating to the maintenance of leases. These services are provided in the normal course of business, and turnover is shown net of VAT and other sales related taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Government grants |
Government grants relating to revenue are recognised as income in the period in which the related costs are incurred. Grants relating to assets are recognised over the expected useful life of the asset. The element of a grant that is deferred to future periods is presented in as deferred income on the balance sheet. |
Ownside Limited (Registered number: 03265877) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2020 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price including transaction costs. |
Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group companies that are classified as debt, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised at transaction price. |
Derecognition of financial liabilities |
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire. |
Going concern |
The balance sheet reflects an excess of liabilities over assets at 30th June 2020 indicating that the company is reliant upon the support of its creditors to continue as a going concern. The directors are confident that this support will be forthcoming for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2019 - NIL). |
Ownside Limited (Registered number: 03265877) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2020 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2019 |
and 30 June 2020 |
DEPRECIATION |
At 1 July 2019 |
and 30 June 2020 |
NET BOOK VALUE |
At 30 June 2020 |
At 30 June 2019 |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.20 | 30.6.19 |
£ | £ |
Bank overdraft |
Bank loans |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.20 | 30.6.19 |
value: | £ | £ |
A Ordinary | £1 | 50 | 50 |
B Ordinary | £1 | 50 | 50 |
100 | 100 |