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Registration number: 03804990

On 101 Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

On 101 Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

On 101 Limited

Company Information
__________________________________________________________________________

Directors

Louise Cunnington

Andrew Murray White

Registered office

Viewlands Broomehall Road
Coldharbour
Surrey
RH5 6HJ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

On 101 Limited

(Registration number: 03804990)
Balance Sheet as at 31 July 2023
__________________________________________________________________________

Note

2023
£

2022
£

   

     

fixed assets

   

 

tangible assets

3

 

992

 

1,322

Current assets

   

 

Debtors

4

26

 

6,707

 

Cash at bank and in hand

 

11,726

 

3,748

 

 

11,752

 

10,455

 

Creditors: Amounts falling due within one year

5

(9,480)

 

(7,100)

 

Net current assets

   

2,272

 

3,355

Net assets

   

3,264

 

4,677

capital and reserves

   

 

Called up share capital

2

 

2

 

Profit and loss account

3,262

 

4,675

 

Total equity

   

3,264

 

4,677

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 November 2023 and signed on its behalf by:
 

.........................................
Louise Cunnington
Director

 

On 101 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% RB

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

On 101 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
__________________________________________________________________________

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 2).

 

On 101 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
__________________________________________________________________________

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

11,737

11,737

At 31 July 2023

11,737

11,737

Depreciation

At 1 August 2022

10,415

10,415

Charge for the year

330

330

At 31 July 2023

10,745

10,745

Carrying amount

At 31 July 2023

992

992

At 31 July 2022

1,322

1,322

4

Debtors

Current

2023
£

2022
£

Trade debtors

-

5,046

Other debtors

26

1,661

 

26

6,707

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Directors current account

9,323

4,795

Taxation and social security

 

-

2,228

Other creditors

 

157

77

 

9,480

7,100

6

Share capital

Allotted, called up and fully paid shares

 

On 101 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
__________________________________________________________________________

 

2023

2022

 

No.

£

No.

£

Ordinary share capital of £1 each

2

2

2

2