Onetec Systems Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06105915 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Onetec Systems Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Annauth

SECRETARY:

REGISTERED OFFICE:

Boo5 Trident Business

89 Bickersteth Road

Tooting

Wandsworth

London

SW17 9SH

REGISTERED NUMBER:

06105915 (England and Wales)

ACCOUNTANTS:

Tax Diagnostics & Co

Accountants

Trident Business Centre

89 Bickersteth Road

London

SW17 9SH

FIXED ASSETS

Tangible assets

4

479

673

CURRENT ASSETS

Debtors

5

44,949

27,421

Cash at bank

8

8

44,957

27,429

CREDITORS

Amounts falling due within one year

6

18,556

15,382

NET CURRENT ASSETS

26,401

12,047

TOTAL ASSETS LESS CURRENT LIABILITIES

26,880

12,720

CREDITORS

Amounts falling due after more than one year

7

29,962

22,152

NET LIABILITIES

(3,082

)

(9,432

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(3,083

)

(9,433

)

SHAREHOLDERS' FUNDS

(3,082

)

(9,432

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 and authorised for issue on 20 December 2022 and were signed by:

R Annauth - Director

1.	STATUTORY INFORMATION

Onetec Systems Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 2 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

and 31 March 2022

5,225

DEPRECIATION

At 1 April 2021

4,552

Charge for year

194

At 31 March 2022

4,746

NET BOOK VALUE

At 31 March 2022

479

At 31 March 2021

673

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

3,880

7,880

Other debtors

41,069

19,541

44,949

27,421

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

1,881

1,921

Trade creditors

1,776

1,330

Taxation and social security

14,899

12,131

18,556

15,382

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

29,962

22,152