Online Mentor Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 04340527 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

ONLINE MENTOR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

W J R Cooper

SECRETARY:

P W Karat

REGISTERED OFFICE:

Charfield Hall

Little Bristol Lane

Charfield

Wotton-under-Edge

Gloucestershire

GL12 8LN

BUSINESS ADDRESS:

44 Orlando Drive

Carlton

Nottingham

NG4 3FL

REGISTERED NUMBER:

04340527 (England and Wales)

ACCOUNTANTS:

Simple Accounts Limited

Wansdyke Business Services Centre

Midsomer Enterprise Park

Radstock Road

Midsomer Norton

Somerset

BA3 2BB

FIXED ASSETS

Intangible assets

4

174,617

138,270

Tangible assets

5

54,141

1,013

Investments

6

-

180,000

228,758

319,283

CURRENT ASSETS

Debtors

7

21,415

9,516

Cash at bank

42,239

51,573

63,654

61,089

CREDITORS

Amounts falling due within one year

8

23,457

11,461

NET CURRENT ASSETS

40,197

49,628

TOTAL ASSETS LESS CURRENT LIABILITIES

268,955

368,911

CREDITORS

Amounts falling due after more than one year

9

(52,352

)

(200,623

)

PROVISIONS FOR LIABILITIES

(33,958

)

(24,871

)

NET ASSETS

182,645

143,417

CAPITAL AND RESERVES

Called up share capital

100

32

Share premium

20,000

20,000

Retained earnings

162,545

123,385

SHAREHOLDERS' FUNDS

182,645

143,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 Income Statement has not been delivered.

The financial statements were approved by the director on 3 May 2017 and were signed by:

W J R Cooper - Director

1.	STATUTORY INFORMATION

Online Mentor 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

These financial statements for the year ended 31 December 2016 are the first financial statements that comply

with FRS102 Section 1A small entities. The date of transition is 1 January 2015.

The transition to FRS 102 section 1A small entities has had no direct impact upon the accounting policies as

used previously and therefore there has been no impact upon the opening equity or profit for the comparative

period.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

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.

Plant and machinery etc

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2016

194,514

Additions

61,998

At 31 December 2016

256,512

AMORTISATION

At 1 January 2016

56,244

Charge for year

25,651

At 31 December 2016

81,895

NET BOOK VALUE

At 31 December 2016

174,617

At 31 December 2015

138,270

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

3,034

Additions

61,195

At 31 December 2016

64,229

DEPRECIATION

At 1 January 2016

2,021

Charge for year

8,067

At 31 December 2016

10,088

NET BOOK VALUE

At 31 December 2016

54,141

At 31 December 2015

1,013

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

61,195

At 31 December 2016

61,195

DEPRECIATION

Charge for year

7,649

At 31 December 2016

7,649

NET BOOK VALUE

At 31 December 2016

53,546

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2016

180,000

Disposals

(180,000

)

At 31 December 2016

-

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

180,000

During the year the company disposed of its investment in Fresh Professional Development Limited.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

13,872

9,516

Other debtors

7,543

-

21,415

9,516

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

11,046

-

Trade creditors

478

-

Taxation and social security

7,603

5,439

Other creditors

4,330

6,022

23,457

11,461

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

42,352

-

Other creditors

10,000

200,623

52,352

200,623

10.	OTHER FINANCIAL COMMITMENTS

At 31 December 2016, the company had total commitments under non-cancellable operating leases over the

remaining life of those leases of £14,423 (2015 - £6,195).

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from directors subsisted during the years ended 31 December 2016 and

31 December 2015:

31.12.16

31.12.15

£

£

P W Karat

Balance outstanding at start of year

55,000

10,000

Amounts advanced

(45,000

)

45,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,000

55,000

W J R Cooper

Balance outstanding at start of year

121,623

16,623

Amounts advanced

(121,623

)

105,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

121,623

The balances owed to the directors are included within other creditors due in more than one year, albeit there are

no formal agreements or repayment dates in place.

In addition to the above, a separate loan of £30,000 was provided by Mr Cooper to the company during the

previous financial year, this was repaid as part of the Investment disposal during the current accounting year.

Interest was being paid on this loan at 8.39% p.a.

12.	RELATED PARTY DISCLOSURES

The company was under the control of Mr PW Karat and Mr WJR Cooper throughout the current year.

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Online Mentor Limited for the year ended 31 December 2016 which comprise the Profit and loss

account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Online Mentor Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Online Mentor Limited and state those matters that we have agreed to state to the director of Online Mentor Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Online Mentor Limited director for our work or for this report.

It is your duty to ensure that Online Mentor Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Online Mentor Limited. You consider that Online Mentor Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Online Mentor Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Simple Accounts Limited

Wansdyke Business Services Centre

Midsomer Enterprise Park

Radstock Road

Midsomer Norton

Somerset

BA3 2BB

8 May 2017