Ongea Ltd. - Period Ending 2016-10-31

Registration number: 08752760

Ongea Ltd.

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Accountancy 4 You Ltd
Office 443 Houldsworth Mill
Houldsworth Street
Stockport
Cheshire
SK5 6DA

Ongea Ltd.
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Management Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ongea Ltd.
for the Year Ended 31 October 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ongea Ltd. for the year ended 31 October 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member of the Institute of Chartered Management Accountants in UK(CIMA), we are subject to its ethical and other professional requirements which are detailed at www.cimaglobal,com.

This report is made solely to the Board of Directors of Ongea 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 Ongea Ltd. and state those matters that we have agreed to state to them. . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ongea Ltd. and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ongea 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 Ongea Ltd.. You consider that Ongea 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 Ongea 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.

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

Accountancy 4 You Ltd
Office 443 Houldsworth Mill
Houldsworth Street
Stockport
Cheshire
SK5 6DA

17 July 2017

Page 1

Ongea Ltd.
(Registration number: 08752760)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					15,836			1,032
Current assets
Debtors					40,356			1,617
Cash at bank and in hand					27,720			6,656
					68,076			8,273
Creditors: Amounts falling due within one year					(83,902)			(9,295)
Net current liabilities					(15,826)			(1,022)
Net assets					10			10
Capital and reserves
Called up share capital		3			10			10
Shareholders' funds					10			10

For the year ending 31 October 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 17 July 2017 and signed on its behalf by:

.........................................
Mr Adam Kincel
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Ongea Ltd.
Notes to the Abbreviated Accounts for the Year Ended 31 October 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).

Turnover

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

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
Office equipment	33% straightline method

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.

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.

Page 3

Ongea Ltd.
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2015		1,846			1,846
Additions		23,013			23,013
At 31 October 2016		24,859			24,859
Depreciation
At 1 November 2015		814			814
Charge for the year		8,209			8,209
At 31 October 2016		9,023			9,023
Net book value
At 31 October 2016		15,836			15,836
At 31 October 2015		1,032			1,032

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
ordinary of £1 each		10			10			10			10

Page 4