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REGISTERED NUMBER: 07626013 (England and Wales)



Financial Statements for the Year Ended 31 March 2023

for

Onwards Records Ltd

Onwards Records Ltd (Registered number: 07626013)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


Onwards Records Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr D Singh





REGISTERED OFFICE: 1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ





REGISTERED NUMBER: 07626013 (England and Wales)





ACCOUNTANTS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

Onwards Records Ltd (Registered number: 07626013)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 7,307 9,745
Tangible assets 5 2,185 2,571
9,492 12,316

CURRENT ASSETS
Cash at bank 3 8

CREDITORS
Amounts falling due within one year 6 (28,115 ) (27,928 )
NET CURRENT LIABILITIES (28,112 ) (27,920 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(18,620

)

(15,604

)

CREDITORS
Amounts falling due after more than one
year

7

(63,540

)

(63,425

)
NET LIABILITIES (82,160 ) (79,029 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (82,260 ) (79,129 )
SHAREHOLDERS' FUNDS (82,160 ) (79,029 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Onwards Records Ltd (Registered number: 07626013)

Balance Sheet - continued
31 March 2023


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 29 March 2024 and were signed by:





Mr D Singh - Director


Onwards Records Ltd (Registered number: 07626013)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Onwards Records 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.

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.

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.

Patents and licences are being amortised evenly over their 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.
Plant and machinery etc - 15% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 24,373
AMORTISATION
At 1 April 2022 14,628
Charge for year 2,438
At 31 March 2023 17,066
NET BOOK VALUE
At 31 March 2023 7,307
At 31 March 2022 9,745

Onwards Records Ltd (Registered number: 07626013)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 8,507
DEPRECIATION
At 1 April 2022 5,936
Charge for year 386
At 31 March 2023 6,322
NET BOOK VALUE
At 31 March 2023 2,185
At 31 March 2022 2,571

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 28,115 27,928

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Amounts owed to group undertakings 63,540 63,425

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary 1.00 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2022 (79,129 )
Deficit for the year (3,131 )
At 31 March 2023 (82,260 )