Oneline Surveys Limited - Period Ending 2015-12-31

 
 
 
 
 
 
 
  Oneline Surveys Limited
 
  Unaudited Abbreviated Accounts
  Period from 1 March 2015 to 31 December 2015

 
  Company Registration Number: 06122201

Oneline Surveys Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Oneline Surveys Limited
Abbreviated Balance Sheet
31 December 2015

		Note			31 December 2015 £			28 February 2015 £
Fixed assets
Tangible fixed assets		2			1,193,271			927,609
Current assets
Stocks					110,545			202,619
Debtors					270,643			234,476
Cash at bank and in hand					81,664			29,846
					462,852			466,941
Creditors: Amounts falling due within one year					(375,700)			(294,265)
Net current assets					87,152			172,676
Total assets less current liabilities					1,280,423			1,100,285
Creditors: Amounts falling due after more than one year					(560,819)			(379,610)
Provisions for liabilities					(154,000)			(124,000)
Net assets					565,604			596,675
Capital and reserves
Called up share capital		4			100			100
Revaluation reserve					140,099			176,402
Profit and loss account					425,405			420,173
Shareholders' funds					565,604			596,675

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Oneline Surveys Limited
Abbreviated Balance Sheet
31 December 2015 ......... continued

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 29 September 2016 and signed on its behalf by:

Mr I Johnson
Director

Mr S Johnson
Director

Company Registration Number: 06122201

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Oneline Surveys Limited
Notes to the Abbreviated Accounts
Period from 1 March 2015 to 31 December 2015 ......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Plant and machinery	10% straight line
Motor vehicles	25% reducing balance
Office equipment	25% reducing balance
Freehold property	2% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Oneline Surveys Limited
Notes to the Abbreviated Accounts
Period from 1 March 2015 to 31 December 2015 ......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2015		1,431,434			1,431,434
Additions		447,207			447,207
Disposals		(25,595)			(25,595)
At 31 December 2015		1,853,046			1,853,046
Depreciation
At 1 March 2015		503,825			503,825
Charge for the period		178,130			178,130
Eliminated on disposals		(22,180)			(22,180)
At 31 December 2015		659,775			659,775
Net book value
At 31 December 2015		1,193,271			1,193,271
At 28 February 2015		927,609			927,609

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

Page 4

Oneline Surveys Limited
Notes to the Abbreviated Accounts
Period from 1 March 2015 to 31 December 2015 ......... continued

		31 December 2015 £			28 February 2015 £
Amounts falling due within one year		234,601			221,738
Amounts falling due after more than one year		560,819			379,610
Total secured creditors		795,420			601,348

4	Share capital

Allotted, called up and fully paid shares

	31 December 2015						28 February 2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

5	Related party transactions

Directors' advances and credits

	1 March 2015 to 31 December 2015 Advance/ Credit £	1 March 2015 to 31 December 2015 Repaid £	Year ended 28 February 2015 Advance/ Credit £	Year ended 28 February 2015 Repaid £
Mr I Johnson
	63,109	100,000	64,485	70,000
Mr S Johnson
	62,545	100,000	64,688	70,000

Page 5