Onyx Management Accounting Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07885869 (England and Wales)

Financial Statements for the Year Ended 31 December 2017

for

Onyx Management Accounting Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C J Cole

H C Cole

REGISTERED OFFICE:

42 Ickwell Road

Northill

Biggleswade

Bedfordshire

SG18 9AB

REGISTERED NUMBER:

07885869 (England and Wales)

ACCOUNTANTS:

Onyx Management Accounting Ltd

42 Ickwell Road

Northill

Biggleswade

Bedfordshire

SG18 9AB

FIXED ASSETS

Tangible assets

4

817

754

Investments

5

79

81

896

835

CURRENT ASSETS

Debtors

6

19,317

16,310

Cash at bank

24,660

34,386

43,977

50,696

CREDITORS

Amounts falling due within one year

7

21,441

22,522

NET CURRENT ASSETS

22,536

28,174

TOTAL ASSETS LESS CURRENT LIABILITIES

23,432

29,009

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

23,332

28,909

SHAREHOLDERS' FUNDS

23,432

29,009

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 5 August 2018 and were signed on its behalf by:

C J Cole - Director

1.	STATUTORY INFORMATION

Onyx Management Accounting 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.

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.

Computer equipment

-

33% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2017

3,189

Additions

1,225

At 31 December 2017

4,414

DEPRECIATION

At 1 January 2017

2,435

Charge for year

1,162

At 31 December 2017

3,597

NET BOOK VALUE

At 31 December 2017

817

At 31 December 2016

754

5.	FIXED ASSET INVESTMENTS

Other

loans

£

At 1 January 2017

81

Repayment in year

(2

)

At 31 December 2017

79

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

18,775

16,008

Other debtors and prepayments

542

302

19,317

16,310

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Tax

10,573

12,855

Social security and other taxes

752

-

VAT

8,089

7,105

Directors' current accounts

1,520

1,567

Accrued expenses

507

995

21,441

22,522

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017 and

31 December 2016:

31.12.17

31.12.16

£

£

C J Cole

Balance outstanding at start of year

1,567

907

Amounts advanced

22,874

11,643

Amounts repaid

(22,922

)

(10,983

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,519

1,567

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 (2016 - £45,789) were paid to the directors .

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C J Cole.