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REGISTERED NUMBER: 08825205










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

ONLINE INNOVATIONS LIMITED

ONLINE INNOVATIONS LIMITED (REGISTERED NUMBER: 08825205)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ONLINE INNOVATIONS LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTORS: D P Tomlinson
L Tomlinson





REGISTERED OFFICE: 16A Regent Road
Altrincham
Cheshire
WA14 1RP





REGISTERED NUMBER: 08825205





ACCOUNTANTS: Blair Shepherd
Chartered Accountants
16A Regent Road
Altrincham
Cheshire
WA14 1RP

ONLINE INNOVATIONS LIMITED (REGISTERED NUMBER: 08825205)

STATEMENT OF FINANCIAL POSITION
31 July 2023

31/7/23 31/7/22
Notes £    £   
CURRENT ASSETS
Debtors 6 212,447 212,447
Cash at bank and in hand 26,783 4,417
239,230 216,864
CREDITORS
Amounts falling due within one year 7 20,423 14,689
NET CURRENT ASSETS 218,807 202,175
TOTAL ASSETS LESS CURRENT
LIABILITIES

218,807

202,175

CREDITORS
Amounts falling due after more than one
year

8

264,306

259,606
NET LIABILITIES (45,499 ) (57,431 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (45,599 ) (57,531 )
SHAREHOLDERS' FUNDS (45,499 ) (57,431 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 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 Board of Directors and authorised for issue on 15 August 2023 and were signed on its behalf by:





D P Tomlinson - Director


ONLINE INNOVATIONS LIMITED (REGISTERED NUMBER: 08825205)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Online Innovations Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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
Revenue 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.

Website are being amortised evenly over their estimated useful life of nil years.

Website costs
Website costs are amortised over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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.

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.

ONLINE INNOVATIONS LIMITED (REGISTERED NUMBER: 08825205)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 August 2022
and 31 July 2023 330,501
AMORTISATION
At 1 August 2022
and 31 July 2023 330,501
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 August 2022
and 31 July 2023 1,608
DEPRECIATION
At 1 August 2022
and 31 July 2023 1,608
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

6. DEBTORS
31/7/23 31/7/22
£    £   
Amounts falling due within one year:
Taxation 2,447 2,447

Amounts falling due after more than one year:
Amounts owed by associates 210,000 210,000

Aggregate amounts 212,447 212,447

ONLINE INNOVATIONS LIMITED (REGISTERED NUMBER: 08825205)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade creditors - 8,683
Social security and other taxes - 895
Workplace pension - 347
VAT 2,722 1,363
Accrued expenses 3,401 3,401
Directors' loan accounts 14,300 -
20,423 14,689

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/7/23 31/7/22
£    £   
Amounts owed to associates 264,306 259,606

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/7/23 31/7/22
value: £    £   
100 Ordinary shares £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 August 2022 (57,531 )
Profit for the year 11,932
At 31 July 2023 (45,599 )