One Way Construction Professionals Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06539076 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

FOR

ONE WAY CONSTRUCTION PROFESSIONALS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Ward

One Way Resourcing Ltd

REGISTERED OFFICE:

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

REGISTERED NUMBER:

06539076 (England and Wales)

AUDITORS:

Rothmans Audit LLP

Statutory Auditors

Chartered Accountants

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

CURRENT ASSETS

Debtors

4

200

46,085

CREDITORS

Amounts falling due within one year

5

-

45,885

NET CURRENT ASSETS

200

200

TOTAL ASSETS LESS CURRENT LIABILITIES

200

200

CAPITAL AND RESERVES

Called up share capital

200

200

SHAREHOLDERS' FUNDS

200

200

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 21st December 2017 and were signed on its behalf by:

One Way Resourcing Ltd - Director

1.	STATUTORY INFORMATION

One Way Construction Professionals Ltd 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.

The company ceased trading on 31 March 2016 when the trade was hived up to its parent company One Way

Resourcing Ltd.

During the year the company has recognised its assets and has settled its liabilities and the company is now

dormant.

Turnover

The company recognises turnover when the amount of turnover can be measured reliably; it is probable that

future economic benefits will flow to the entity and when the specific criteria relating to the each of company’s

sales channels have been met, as described below.

Sale of services - supply of labour

Turnover is recognised in the accounting period in which the services are rendered.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Short term employee benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an

expense in the period in which the service is received.

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension

plan under which the company pays fixed contributions into a separate entity. Once the contributions have been

paid the company has no further payment obligations. The contributions are recognised as an expense when

they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held

separately from the company in independently administered funds.

Financial instruments

Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at

the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

At the end of each reporting period financial assets are assessed for impairment. If an impairment exists the

impairment loss is recognised in the profit and loss.

Financial assets are derecognised when:

- the contractual right to cash flows from the asset are settled or expire,

- substantially all the risk and rewards of the ownership of the asset are transfered to another party or

- despite retaining some significant risks and rewards, control of the asset has been transfered to another party

who has the practical ability to unilaterally sell the asset without additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the liability is discharged, cancelled or expires.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 6 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

200

46,085

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

5,100

Taxation and social security

-

36,335

Other creditors

-

4,450

-

45,885

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Reilly ACCA (Senior Statutory Auditor)

for and on behalf of Rothmans Audit LLP

7.	RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

2017

2016

£

£

Goods and services supplied to related party

-

453,706

Goods and services supplied by related party

-

193,701

Net transfers from / (to) the related party

45,885

(81,956

)

Dividends paid to the related party

-

45,836

Amount due from related party

200

46,085

Other related parties

2017

2016

£

£

Goods and services supplied to related party

-

27,256

Goods and services supplied by related party

-

21,787

8.	ULTIMATE CONTROLLING PARTY

The controlling party is One Way Resourcing Ltd .

One Way Resourcing Ltd is the parent of the smallest group for which consolidated financial statements are

drawn up of which the company is a member.

The registered office of One Way Resourcing Ltd is the same as the company noted on page 1.