Ownz Management Ltd - Accounts to registrar (filleted) - small 18.2

Ownz Management Ltd - Accounts to registrar (filleted) - small 18.2

OWNZ MANAGEMENT LTD - Company Information

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REGISTERED NUMBER: 11131567 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2020

FOR

OWNZ MANAGEMENT LTD
OWNZ MANAGEMENT LTD (REGISTERED NUMBER: 11131567)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2020










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


OWNZ MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2020







DIRECTOR: Mr I Patel





REGISTERED OFFICE: Gate 1, Unit 5, First Floor, Office 1A,
195 Gwendolen Road
Leicester
LE5 5FN





REGISTERED NUMBER: 11131567 (England and Wales)





ACCOUNTANTS: Watergates Ltd
109 Coleman Road
Leicester
LE5 4LE
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OWNZ MANAGEMENT LTD (REGISTERED NUMBER: 11131567)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2020

31/3/20 31/3/19
Notes £    £   
CURRENT ASSETS
Debtors 4 83,787 124,848
Cash at bank and in hand 6,235 1,384
90,022 126,232
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
5
(21,619
)
(6,198
)
NET CURRENT ASSETS 68,403 120,034
TOTAL ASSETS LESS CURRENT
LIABILITIES
68,403
120,034

CAPITAL AND RESERVES
Called up share capital 6 100 85,100
Retained earnings 68,303 34,934
SHAREHOLDERS' FUNDS 68,403 120,034

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2020.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st March 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 21st December 2020 and were signed by:





Mr I Patel - Director


The notes on pages 3 to 4 form part of these financial statements

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OWNZ MANAGEMENT LTD (REGISTERED NUMBER: 11131567)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2020


1. STATUTORY INFORMATION

Ownz Management Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

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OWNZ MANAGEMENT LTD (REGISTERED NUMBER: 11131567)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2020


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/20 31/3/19
£    £   
Trade debtors 12,460 19,009
Amounts owed by group undertakings 71,327 -
Other debtors - 105,839
83,787 124,848

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/20 31/3/19
£    £   
Trade creditors 13,388 5,238
Amounts owed to group undertakings 1,399 -
Taxation and social security 1,872 -
Other creditors 4,960 960
21,619 6,198

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/20 31/3/19
value: £    £   
100 Ordinary £1.00 100 100
NIL Preference £1 - 85,000
100 85,100

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31st March 2020 and the period ended 31st March 2019:

31/3/20 31/3/19
£    £   
Mr I Patel
Balance outstanding at start of year 19,814 -
Amounts advanced - 19,814
Amounts repaid (23,814 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,000 ) 19,814

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