Onegin Ventures Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06758665 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30th November 2017

for

ONEGIN VENTURES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms B D Garcia

REGISTERED OFFICE:

34a Watling Street

Radlett

Hertfordshire

WD7 7NN

REGISTERED NUMBER:

06758665 (England and Wales)

ACCOUNTANTS:

Daniel Wolfson & Co Ltd

Chartered Accountants

34a Watling Street

Radlett

Hertfordshire

WD7 7NN

FIXED ASSETS

Property, plant and equipment

4

1,980

2,970

Investments

5

18,600

18,600

Investment property

6

150,000

151,496

170,580

173,066

CURRENT ASSETS

Debtors

7

59

28,957

Cash at bank

218

136

277

29,093

CREDITORS

Amounts falling due within one year

8

92,417

40,158

NET CURRENT LIABILITIES

(92,140

)

(11,065

)

TOTAL ASSETS LESS CURRENT LIABILITIES

78,440

162,001

CREDITORS

Amounts falling due after more than one year

9

(115,000

)

(199,058

)

PROVISIONS FOR LIABILITIES

10

(3,839

)

(4,340

)

NET LIABILITIES

(40,399

)

(41,397

)

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

11

16,367

17,362

Retained earnings

(56,866

)

(58,859

)

SHAREHOLDERS' FUNDS

(40,399

)

(41,397

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 31st August 2018 and were signed by:

Ms B D Garcia - Director

1.	STATUTORY INFORMATION

Onegin Ventures 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Onegin Ventures Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

These accounts have been prepared on a going concern basis given the continued support of the director.

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate

determined by the director. The director has used observable market prices, adjusted if necessary for any

difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the

profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1st December 2016

and 30th November 2017

9,900

DEPRECIATION

At 1st December 2016

6,930

Charge for year

990

At 30th November 2017

7,920

NET BOOK VALUE

At 30th November 2017

1,980

At 30th November 2016

2,970

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st December 2016

and 30th November 2017

18,600

NET BOOK VALUE

At 30th November 2017

18,600

At 30th November 2016

18,600

The fixed asset investment represents a 100% shareholding in Tecma GmbH, a company incorporated in

Germany.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st December 2016

151,496

Impairments

(1,496

)

At 30th November 2017

150,000

NET BOOK VALUE

At 30th November 2017

150,000

At 30th November 2016

151,496

The investment property has been valued at the balance sheet date by the director, who believes the carrying

value to be its fair value.

Fair value at 30th November 2017 is represented by:

£

Valuation in 2016

21,702

Valuation in 2017

(1,496

)

Cost

129,794

150,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts due from subsidiary undertaking

-

28,901

Prepayments and accrued income

59

56

59

28,957

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1,273

1,213

Amount due to parent undertaking

-

24,764

Amount due to related undertaking

80,269

3,530

Director's current account

9,675

9,571

Accruals and deferred income

1,200

1,080

92,417

40,158

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

115,000

199,058

10.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

3,839

4,340

Deferred

tax

£

Balance at 1st December 2016

4,340

Decrease in provision

(501

)

Balance at 30th November 2017

3,839

11.

RESERVES

Revaluation

reserve

£

At 1st December 2016

17,362

Impairment

(1,496

)

Deferred tax

501

At 30th November 2017

16,367

12.	RELATED PARTY DISCLOSURES

During the year, Onegin Ventures Ltd rented property to Osbourne Store Ltd, a company in which Miss B D Garcia

is a director. Rent was agreed at a market rate of £18,000 p.a. (2016 - £14,400), with provision for future rent

reviews. At the year end, Onegin Ltd owed Osbourne Store Ltd £80, 269 (LY: £3,530).

13.	ULTIMATE CONTROLLING PARTY

Mr C T Prikker is the company's ultimate controlling party by virtue of his 100% shareholding, the entire share

capital having been acquired on 1st November 2017. Prior thereto, Nareco Holdings Ltd was the ultimate

controlling party. Nareco Holdings Ltd ceased to trade on 1st November 2107, being technically insolvent.