Onesoon Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04746025 (England and Wales)

ONESOON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R Taylor-Carr

Mr D Cloudsdale

Mr L S Thurman

SECRETARY:

Mr R Taylor-Carr

REGISTERED OFFICE:

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

REGISTERED NUMBER:

04746025 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BANKERS:

Barclays

Leicester

LE87 2BB

FIXED ASSETS

Intangible assets

5

1,603

2,404

Tangible assets

6

631

946

2,234

3,350

CURRENT ASSETS

Debtors

7

178,336

156,674

Cash at bank and in hand

69,785

64,132

248,121

220,806

CREDITORS

Amounts falling due within one year

8

72,504

165,335

NET CURRENT ASSETS

175,617

55,471

TOTAL ASSETS LESS CURRENT LIABILITIES

177,851

58,821

PROVISIONS FOR LIABILITIES

424

183

NET ASSETS

177,427

58,638

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

177,426

58,637

SHAREHOLDERS' FUNDS

177,427

58,638

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 4 July 2018 and were signed on its behalf by:

Mr R Taylor-Carr - Director

1.	STATUTORY INFORMATION

Onesoon 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the value excluding Value Added Tax of services provided to customers during the year. In

respect of services provided, all income is taken to profit and loss at the same point as the right to receive

consideration has been acquired.

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.

Website is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Financial instruments 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

5.	INTANGIBLE FIXED ASSETS

Website

£

COST

At 1 November 2016

and 31 October 2017

5,408

AMORTISATION

At 1 November 2016

3,004

Amortisation for year

801

At 31 October 2017

3,805

NET BOOK VALUE

At 31 October 2017

1,603

At 31 October 2016

2,404

6.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 November 2016

and 31 October 2017

12,330

DEPRECIATION

At 1 November 2016

11,384

Charge for year

315

At 31 October 2017

11,699

NET BOOK VALUE

At 31 October 2017

631

At 31 October 2016

946

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

172,470

151,211

Prepayments and accrued income

5,866

5,463

178,336

156,674

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

3,931

4,736

Amounts owed to group undertakings

99

4,463

Corporation tax

7,078

10,228

Social security and other taxes

5,936

6,485

VAT

24,523

16,290

Wages control account

(2,302

)

-

Directors' current accounts

30,000

120,000

Accruals and deferred income

3,239

3,133

72,504

165,335

9.	RELATED PARTY DISCLOSURES

During the year the company paid dividends to Accsys Spangle Limited, the sole shareholder of the company to

the value of £120,000 (31 October 2016: £340,000). At the balance sheet date, the company owed £(99)

(31 October 2016: £(4,463) )

10.	RESEARCH AND DEVELOPMENT

During the year the total amount spent on research and development costs was £159,958 (2016: £147,278)