Onboardvision Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07066866 (England and Wales)

ONBOARDVISION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

D N Troiano

Mrs C M Troiano

REGISTERED OFFICE:

26/28 Headlands

Kettering

Northamptonshire

NN15 7HP

BUSINESS ADDRESS:

35 Westrope Way

Bedford

Bedfordshire

MK41 7SX

REGISTERED NUMBER:

07066866 (England and Wales)

ACCOUNTANTS:

Haines Watts (SEM) Limited

26-28 Headlands

Kettering

Northamptonshire

NN15 7HP

FIXED ASSETS

Tangible assets

3

12,461

12,740

CURRENT ASSETS

Stocks

-

1,556

Debtors

4

140

2,938

Cash at bank

9,552

12,382

9,692

16,876

CREDITORS

Amounts falling due within one year

5

17,367

25,968

NET CURRENT LIABILITIES

(7,675

)

(9,092

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,786

3,648

PROVISIONS FOR LIABILITIES

2,492

2,548

NET ASSETS

2,294

1,100

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

2,293

1,099

SHAREHOLDERS' FUNDS

2,294

1,100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 December 2017 and were signed on its behalf by:

D N Troiano - Director

1.	STATUTORY INFORMATION

Onboardvision Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2016

49,082

6,844

55,926

Additions

3,875

-

3,875

At 31 March 2017

52,957

6,844

59,801

DEPRECIATION

At 1 April 2016

38,974

4,212

43,186

Charge for year

3,496

658

4,154

At 31 March 2017

42,470

4,870

47,340

NET BOOK VALUE

At 31 March 2017

10,487

1,974

12,461

At 31 March 2016

10,108

2,632

12,740

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

140

2,938

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

101

2,162

Tax

365

3,934

VAT

10

1,295

Other creditors

-

299

Directors' current accounts

15,991

17,378

Accrued expenses

900

900

17,367

25,968

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

7.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time in the period ended 31 March 2017.

The effect of the transition from the previous financial reporting framework to FRS 102 has been considered.

There has been no material impact in relation to the following:

- changes in accounting policies

- changes in shareholders funds

- comparative year profit or loss

On that basis, no restatement has been undertaken.