Onside Enterprises Limited Small abbreviated accounts

ONSIDE ENTERPRISES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER 05434842

ONSIDE ENTERPRISES LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

31 October 2016

ONSIDE ENTERPRISES LIMITED

ABBREVIATED BALANCE SHEET

31 October 2016

		2016		2015
Note		£	£	£	£
FIXED ASSETS	2
Intangible assets			12,750		14,250

CURRENT ASSETS

Debtors	32,582		32,930
Cash at bank and in hand	82,888		82,377
	---------		---------
	115,470		115,307
CREDITORS: Amounts falling due within one year	11,742		13,381
	---------		---------
NET CURRENT ASSETS		103,728		101,926
		---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES		116,478		116,176
		---------		---------

CAPITAL AND RESERVES

Called up equity share capital	4	10	10
Profit and loss account		116,468	116,166
		---------	---------
SHAREHOLDERS' FUNDS		116,478	116,176
		---------	---------

For the year ended 31st October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

These abbreviated accounts were approved and signed by the director and authorised for issue on 28 February 2017 .

Mr R Groome Director

Company Registration Number: 05434842

ONSIDE ENTERPRISES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31ST OCTOBER 2016

1. ACCOUNTING POLICIES

Basis of accounting

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

Turnover

The turnover shown in the profit and loss account represents commission receivable during the year, exclusive of Value Added Tax.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 20 Years Straight Line

Fixed assets

All fixed assets are initially recorded at cost.

Pension costs

The company contributes to the directors private pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,000 (2015: £nil).

2. FIXED ASSETS

	Intangible Assets
	£

COST

At 1st November 2015 and 31st October 2016	30,000
	--------

DEPRECIATION

At 1st November 2015	15,750
Charge for year	1,500
	--------
At 31st October 2016	17,250
	--------

NET BOOK VALUE

At 31st October 2016	12,750
	--------

At 31st October 2015	14,250
	--------

3. TRANSACTIONS WITH THE DIRECTOR

The balance of the director's current account at the balance sheet date was overdrawn by £29,971 (2015: overdrawn by £29,971). This amount was repaid with 9 months of the balance sheet date.

The above loan was interest free, unsecured and repayable on demand.

4. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	10	10	10	10
	----	----	----	----

5. CONTROL

The company was under the control of Mr R D Groome throughout the current and previous year. Mr R D Groome is the managing director and majority shareholder.