One2c Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06993058 (England and Wales)

ONE2C LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr A J Carroll

REGISTERED OFFICE:

Cardiff International Arena

Executive Suite 1

Mary Ann Street

Cardiff

CF10 2EQ

REGISTERED NUMBER:

06993058 (England and Wales)

ACCOUNTANTS:

Watts Gregory LLP

Chartered Accountants

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

9,484

14,291

CURRENT ASSETS

Stocks

35,000

35,000

Debtors

5

68,852

50,026

Cash at bank

8,816

-

112,668

85,026

CREDITORS

Amounts falling due within one year

6

(85,021

)

(95,208

)

NET CURRENT ASSETS/(LIABILITIES)

27,647

(10,182

)

TOTAL ASSETS LESS CURRENT LIABILITIES

37,131

4,109

PROVISIONS FOR LIABILITIES

(1,612

)

(2,858

)

NET ASSETS

35,519

1,251

CAPITAL AND RESERVES

Called up share capital

7

200

200

Retained earnings

35,319

1,051

SHAREHOLDERS' FUNDS

35,519

1,251

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

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

The director acknowledges his 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 Profit and loss account has not been delivered.

The financial statements were approved for issue by the director on 29 May 2018 and were signed by:

Mr A J Carroll - Director

1.	STATUTORY INFORMATION

One2c 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to

the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

These financial statements for the year ended 31 August 2017 are the first financial statements that comply

with Financial Reporting Standard 102 1A. The date of transition is 1 September 2015.

The transition to Financial Reporting Standard 102 1A has resulted in no changes to existing accounting

policies.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable

to making the asset capable of operating as intended.

Fixtures & fittings

25% on cost

Motor vehicles

25% on cost

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell, 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 Profit and loss account,

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.

Taxation

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.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

Non-derivative financial instruments

Basic financial instruments are recognised at amortised cost.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 September 2016

22,378

28,757

51,135

Additions

883

-

883

At 31 August 2017

23,261

28,757

52,018

DEPRECIATION

At 1 September 2016

19,399

17,445

36,844

Charge for year

1,128

4,562

5,690

At 31 August 2017

20,527

22,007

42,534

NET BOOK VALUE

At 31 August 2017

2,734

6,750

9,484

At 31 August 2016

2,979

11,312

14,291

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

68,539

49,723

Prepayments and accrued income

313

303

68,852

50,026

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

3,072

Trade creditors

41,448

32,933

Corporation tax

10,007

2,552

Social security and other taxes

10

(38

)

VAT

10,556

4,511

Other creditors

19,674

29,696

Directors' current accounts

2,126

21,558

Accruals and deferred income

1,200

924

85,021

95,208

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary shares

£1

100

100

100

Ordinary B shares

£1

100

100

200

200

8.	OTHER FINANCIAL COMMITMENTS

The company has the following future financial commitments payable in:-

2017

£

One year

1,500

1,500