Onetec Limited Filleted accounts for Companies House (small and micro)
Onetec Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
07341078
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Statement of Financial Position |
2018 |
2017 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
6 |
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Cash at bank and in hand |
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--------- |
--------- |
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Creditors: amounts falling due within one year |
7 |
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--------- |
--------- |
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Net current assets |
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--------- |
--------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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--------- |
--------- |
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Net assets |
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--------- |
--------- |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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--------- |
--------- |
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Shareholders funds |
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--------- |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
24 October 2018
, and are signed on behalf of the board by:
|
Director |
Company registration number:
07341078
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Notes to the Financial Statements |
Year ended 31 August 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3 Brixley Business Park, 18-26 Fancy Road, Poole, BH12 4PB, Dorset.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery |
- |
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Motor vehicles |
- |
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Equipment |
- |
50
% reducing balance |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
10
(2017:
14
).
5.
Tangible assets
Land and buildings |
Plant and machinery |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 September 2017 |
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13,931 |
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Additions |
– |
– |
|
1,669 |
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Disposals |
– |
– |
(
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– |
(
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--------- |
------- |
--------- |
-------- |
--------- |
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At 31 August 2018 |
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15,600 |
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--------- |
------- |
--------- |
-------- |
--------- |
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Depreciation |
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At 1 September 2017 |
– |
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10,528 |
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Charge for the year |
– |
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2,173 |
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Disposals |
– |
– |
(
|
– |
(
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--------- |
------- |
--------- |
-------- |
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At 31 August 2018 |
– |
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12,701 |
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------- |
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-------- |
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Carrying amount |
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At 31 August 2018 |
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2,899 |
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------- |
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-------- |
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At 31 August 2017 |
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3,403 |
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--------- |
------- |
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-------- |
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6.
Debtors
2018 |
2017 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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--------- |
--------- |
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--------- |
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7.
Creditors:
amounts falling due within one year
2018 |
2017 |
|
£ |
£ |
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Trade creditors |
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Corporation tax |
– |
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Social security and other taxes |
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Other creditors - desc in a/cs |
1,306 |
– |
Other creditors |
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--------- |
-------- |
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--------- |
-------- |
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8.
Creditors:
amounts falling due after more than one year
2018 |
2017 |
|
£ |
£ |
|
Bank loans and overdrafts |
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--------- |
--------- |
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9.
Directors' advances, credits and guarantees
There were no movements to the director's loan accounts.
10.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRSSE.