Online International Processing Solution Ltd - Period Ending 2016-02-29

Registration number: 07934018

Online International Processing Solution Ltd

Unaudited Abbreviated Accounts

for the Year Ended 29 February 2016
 

CheapAccounting.co.uk
Springfield House
Sandling Road
Maidstone
Kent
ME14 2LP

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 3) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Online International Processing Solution Ltd
for the Year Ended 29 February 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Online International Processing Solution Ltd for the year ended 29 February 2016 set out on pages 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 Online International Processing Solution 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 Online International Processing Solution 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 Online International Processing Solution Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Online International Processing Solution 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 loss of Online International Processing Solution Ltd. You consider that Online International Processing Solution 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 Online International Processing Solution 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.

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

CheapAccounting.co.uk
Springfield House
Sandling Road
Maidstone
Kent
ME14 2LP

30 November 2016

Page 1

Online International Processing Solution Ltd
(Registration number: 07934018)
Abbreviated Balance Sheet at 29 February 2016

		Note			2016 £			2015 £
Current assets
Debtors					33			-
Cash at bank and in hand					6,170			16,033
					6,203			16,033
Creditors: Amounts falling due within one year					(39,751)			(24,051)
Net liabilities					(33,548)			(8,018)
Capital and reserves
Called up share capital		2			100			100
Profit and loss account					(33,648)			(8,118)
Shareholders' deficit					(33,548)			(8,018)

For the year ending 29 February 2016 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 .

Approved by the Board on 30 November 2016 and signed on its behalf by:

.........................................
Denis Richard de la Rosa
Director

.........................................
Stephen Mark Beaulieu
Director

The notes on page 3 form an integral part of these financial statements.
Page 2

Online International Processing Solution Ltd
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

1	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 and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis not withstanding the excess of liabilities over assets as the directors believe the beneficial owners will continue to make funds available to enable the company to meet liabilities as and when they fall due. The directors have no reason to believe that financial support will not continue in the future and considered it appropriate to adopt a going concern basis.The accounts do not contain any adjustments that would be necessary should this basis not be appropriate.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Foreign currency

Transactions in foreign currencies are recorded at the average exchange rate. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3