| O'Neill Private Finance Ltd |
|
| Report to the director on the preparation of the unaudited abbreviated accounts of O'Neill Private Finance Ltd for the year ended 31 December 2014 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of O'Neill Private Finance Ltd for the year ended 31 December 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/ |
| Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
| Peter Dell |
| Chartered Certified Accountants |
| Suite 2, 2nd Floor, Stanmore House, |
| 15-19 Church Road |
| Stanmore |
| Middlesex |
| HA7 4AR |
|
| 20 September 2015 |
|
| O'Neill Private Finance Ltd |
| Registered number: |
06778266 |
| Abbreviated Balance Sheet |
| as at 31 December 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
818 |
|
|
1,142 |
|
| Current assets |
| Stocks |
|
|
- |
|
|
15,356 |
| Debtors |
|
|
2,899 |
|
|
18,627 |
| Cash at bank and in hand |
|
|
7,218 |
|
|
5,001 |
|
|
|
10,117 |
|
|
38,984 |
|
| Creditors: amounts falling due within one year |
|
|
(9,683) |
|
|
(38,382) |
|
| Net current assets |
|
|
|
434 |
|
|
602 |
|
| Total assets less current liabilities |
|
|
|
1,252 |
|
|
1,744 |
|
|
| Provisions for liabilities |
|
|
|
(164) |
|
|
(228) |
|
|
| Net assets |
|
|
|
1,088 |
|
|
1,516 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
|
88 |
|
|
516 |
|
| Shareholders' funds |
|
|
|
1,088 |
|
|
1,516 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Thomas O'Neill |
| Director |
| Approved by the board on 20 September 2015 |
|
| O'Neill Private Finance Ltd |
| Notes to the Abbreviated Accounts |
| for the year ended 31 December 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the value, net of discounts, of work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
25% straight line |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 January 2014 |
2,042 |
|
Additions |
249 |
|
At 31 December 2014 |
2,291 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2014 |
900 |
|
Charge for the year |
573 |
|
At 31 December 2014 |
1,473 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2014 |
818 |
|
At 31 December 2013 |
1,142 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Thomas O'Neill |
|
The company lent the director the following amounts. The loan was repaid shortly after the year end. |
- |
|
842 |
|
- |
|
842 |
|
|
|
- |
|
842 |
|
- |
|
842 |
|
|
|
|
|
|
|
|
|
