ONANDON LIMITED - Abbreviated accounts

ONANDON LIMITED - Abbreviated accounts


Registered number
04181859
ONANDON LIMITED
Abbreviated Accounts
30 April 2014
ONANDON LIMITED
Registered number: 04181859
Abbreviated Balance Sheet
as at 30 April 2014
Notes 2014 2013
£ £
Fixed assets
Tangible assets 3 18,881 19,277
Current assets
Stocks 364,070 336,042
Debtors 19,687 27,571
Cash at bank and in hand 166,302 170,401
550,059 534,014
Creditors: amounts falling due within one year (142,872) (173,233)
Net current assets 407,187 360,781
Net assets 426,068 380,058
Capital and reserves
Called up share capital 4 4 4
Profit and loss account 426,064 380,054
Shareholders' funds 426,068 380,058
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
C Wheeler
Director
Approved by the board on 13 November 2014
ONANDON LIMITED
Notes to the Abbreviated Accounts
for the year ended 30 April 2014
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures, Fittings & Equipment 25% reducing balance
Leasehold Costs 15 years
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
2 Intangible fixed assets £
Cost
At 1 May 2013 52,667
At 30 April 2014 52,667
Amortisation
At 1 May 2013 52,667
At 30 April 2014 52,667
Net book value
At 30 April 2014 -
3 Tangible fixed assets £
Cost
At 1 May 2013 139,552
Additions 5,199
At 30 April 2014 144,751
Depreciation
At 1 May 2013 120,275
Charge for the year 5,595
At 30 April 2014 125,870
Net book value
At 30 April 2014 18,881
At 30 April 2013 19,277
4 Share capital Nominal 2014 2014 2013
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 4 4 4
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