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Registered Number: 07958355
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 29 February 2024

for

ONWARD FINANCIALS LIMITED

Director Colin Douglas Young
Registered Number 07958355
Registered Office Union House
111 New Union Street
Coventry
CV1 2NT
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 29 February 2024.
Director
The director who served the company throughout the year was as follows:
Colin Douglas Young
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Colin Douglas Young
Director

Date approved: 20 November 2024
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Onward Financials Limited for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Onward Financials Limited for the year ended 29 February 2024 as set out on pages Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the Board of Directors of Onward Financials Limited , as a body, in accordance with the terms of our engagement letter dated 20 November 2024. Our work has been undertaken solely to prepare for your approval the accounts of Onward Financials Limited and state those matters that we have agreed to state to the Board of Directors of Onward Financials Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Onward Financials Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Onward Financials Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Onward Financials Limited . You consider that Onward Financials Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Onward Financials Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory account
29 February 2024



....................................................
FBD Consultancy Accounts & Tax Ltd.
2 Glasgow Road
Dennyloanhead
Stirlingshire
FK4 1QF
20 November 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 1,562    4,020 
Investments 7,942    21,289 
9,504    25,309 
Current assets      
Debtors 19,629    3,719 
Cash at bank and in hand 75,327    75,682 
94,956    79,401 
Creditors: amount falling due within one year (28,624)   (48,439)
Net current assets 66,332    30,962 
 
Total assets less current liabilities 75,836    56,271 
Net assets 75,836    56,271 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 75,834    56,269 
Shareholders' funds 75,836    56,271 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 20 November 2024 and were signed by:


-------------------------------
Colin Douglas Young
Director
4
General Information
Onward Financials Limited is a private company, limited by shares, registered in England and Wales, registration number 07958355, registration address Union House, 111 New Union Street, Coventry, CV1 2NT.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
5