Ownside Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 03265877 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 31 December 2013

for

Ownside Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs J B G Tuck

Mrs K S Wheeler

SECRETARY:

Mrs J B G Tuck

REGISTERED OFFICE:

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

REGISTERED NUMBER:

03265877 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

BANKERS:

National Westminster Bank Plc

21 Eastgate Street

Gloucester

GL1 1NY

CURRENT ASSETS

Stocks

-

21,221

Debtors

39,255

39,027

Cash at bank and in hand

3,217

-

42,472

60,248

CREDITORS

Amounts falling due within one year

266,348

282,503

NET CURRENT LIABILITIES

(223,876

)

(222,255

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(223,876

)

(222,255

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(223,976

)

(222,355

)

SHAREHOLDERS' FUNDS

(223,876

)

(222,255

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 4 September 2014 and were signed on its behalf by:

Mrs J B G Tuck - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

A provision of 20% for the average "drop out" rate on commissions is provided on contracts under offer but not

exchanged.

Going concern

The balance sheet reflects an excess of liabilities over assets at 31 December 2013 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

25,404

DEPRECIATION

At 1 January 2013

and 31 December 2013

25,404

NET BOOK VALUE

At 31 December 2013

-

At 31 December 2012

-

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

£

50

A Ordinary

£1

50

50

50

B Ordinary

£1

50

50

100

100

4.	ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Findout 2 Limited, a company registered in England and Wales.

5.	CONTROLLING PARTY

By virtue of their majority shareholding the directors are considered to be the controlling party of the company.