Onimpex (UK) Ltd - Period Ending 2015-12-31

ONIMPEX (UK) LIMITED - Company Information

Registration number: 04352817

Onimpex (UK) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015

WatkinsonBlack
1st Floor
264 Manchester Road
Warrington
Cheshire
WA1 3RB

Onimpex (UK) Ltd

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2 to 3
Notes to the Abbreviated Accounts	4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Onimpex (UK) Ltd
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Onimpex (UK) Ltd for the year ended 31 December 2015 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Onimpex (UK) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Onimpex (UK) Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Onimpex (UK) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Onimpex (UK) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Onimpex (UK) Ltd. You consider that Onimpex (UK) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Onimpex (UK) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

WatkinsonBlack
1st Floor
264 Manchester Road
Warrington
Cheshire
WA1 3RB

Date:.............................

Page 1

Onimpex (UK) Ltd

(Registration number: 04352817)
Abbreviated Balance Sheet as at 31 December 2015

	Note	2015 £	2014 £
Fixed assets
Tangible assets	2	40,992	52,211
Current assets
Stocks		5,000	5,000
Debtors		92,877	92,973
Cash at bank and in hand		134,178	7,645
		232,055	105,618
Creditors: Amounts falling due within one year		144,199	85,785
Net current assets		87,856	19,833
Total assets less current liabilities		128,848	72,044
Creditors: Amounts falling due after more than one year		32,436	42,057
Accruals and deferred income		2,820	2,820
Net assets		93,592	27,167
Capital and reserves
Called up share capital	3	150	150
Share premium reserve		19,950	19,950
Profit and loss account		73,492	7,067
Shareholders funds		93,592	27,167

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Onimpex (UK) Ltd

(Registration number: 04352817)
Abbreviated Balance Sheet as at 31 December 2015

Approved by the Board on 11 July 2016 and signed on its behalf by:

.........................................
Mr Christopher Neil Spencer
Director

.........................................
Mr Kenneth Jones
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Onimpex (UK) Ltd

Notes to the Abbreviated Accounts

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixture, fittings, plant and machinery, motor vehicles, computer equipment	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Provisions

A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation 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. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 4

Onimpex (UK) Ltd

Notes to the Abbreviated Accounts

Fixed assets

	Tangible assets £	Total £
Cost
At 1 January 2015	95,203	95,203
Additions	2,446	2,446
At 31 December 2015	97,649	97,649
Depreciation
At 1 January 2015	42,992	42,992
Charge for the year	13,665	13,665
At 31 December 2015	56,657	56,657
Net book value
At 31 December 2015	40,992	40,992
At 31 December 2014	52,211	52,211

Share capital

Allotted, called up and fully paid shares

	2015		2014
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100
'A' Ordinary of £1 each	50	50	50	50
	150	150	150	150

Page 5