Onelife Training Uk Limited - Period Ending 2016-05-31

Registration number: 06761622

Onelife Training Uk Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 31 May 2016

M.J. Smith & Co Limited
Chartered Accountants
Woodbury House
Green Lane
Exton
Exeter
Devon
EX3 0PW

Onelife Training Uk Limited

Contents

Abbreviated Balance Sheet	1
Notes to the Abbreviated Accounts	2 to 3

Onelife Training Uk Limited

(Registration number: 06761622)
Abbreviated Balance Sheet as at 31 May 2016

	Note	2016  £	2015  £
Fixed assets
Intangible assets	2	6,300	7,000
Tangible assets	2	776	1,035
		7,076	8,035
Current assets
Debtors		4,304	7,630
Cash at bank and in hand		637	1,224
		4,941	8,854
Creditors: Amounts falling due within one year		(12,252)	(8,301)
Net current (liabilities)/assets		(7,311)	553
Total assets less current liabilities		(235)	8,588
Accruals and deferred income		(7,038)	(9,872)
Net liabilities		(7,273)	(1,284)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(7,373)	(1,384)
Shareholders deficit		(7,273)	(1,284)

For the year ending 31 May 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 director on 27 February 2017

.........................................
Mrs CA Johnson
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Onelife Training Uk Limited

Notes to the Abbreviated Accounts

1

Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

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.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Amortisation

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

Asset class	Amortisation method and rate
Goodwlll	10 years

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
Plant and machinery	25% reducing balance basis

Page 2

Onelife Training Uk Limited

Notes to the Abbreviated Accounts

2

Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 June 2015	10,000	3,917	13,917
At 31 May 2016	10,000	3,917	13,917
Depreciation
At 1 June 2015	3,000	2,882	5,882
Charge for the year	700	259	959
At 31 May 2016	3,700	3,141	6,841
Net book value
At 31 May 2016	6,300	776	7,076
At 31 May 2015	7,000	1,035	8,035

3

Share capital

Allotted, called up and fully paid shares

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

4

Control

The director is the controlling party by virtue of her controlling shareholding in the company.

Page 3