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Onteck Limited
Registered Number:06852195
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
Onteck Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
06852195
As at 31 March 2024
Onteck Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
80,490
89,738
2
80,490
89,738
Current assets
Inventories
400
400
3
Trade and other receivables
159,104
266,125
4
140,032
Cash and cash equivalents
97,031
363,556
299,536
Trade and other payables: amounts falling due within one
year
(197,169)
(297,673)
5
102,367
65,883
Net current assets
Total assets less current liabilities
146,373
192,105
Trade and other payables: amounts falling due after more
than one year
(8,667)
(4,667)
6
(11,495)
(17,050)
Provisions for liabilities
130,211
Net assets
166,388
Capital and reserves
Called up share capital
2,100
2,100
Retained earnings
128,111
164,288
130,211
166,388
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Sean Allan Woods Director
Mr Jonathan Paul Leach Director
These financial statements were approved and authorised for issue by the Board on 31 May 2024 and were signed by:
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4
Registered Number :
06852195
For the year ended 31 March 2024
Onteck Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 March 2024
Onteck Limited
Notes to the Financial Statements
Statutory Information
Onteck Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
06852195.
Registered address:
Norwood House
Norwood
Beverley
East Yorks
HU17 9ET
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover represents amounts receivable for goods and services. Amounts receivable for services performed over time are based upon the stage of completion of the services performed.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
15% Straight line
Computer equipment
25% Reducing balance
Motor vehicles
15% Straight line
Fixtures and fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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6
For the year ended 31 March 2024
Onteck Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Motor vehicles
£
£
£
£
Cost or
valuation
At 01 April 2023
128,188
9,740
27,845
90,603
25,724
-
-
25,724
Additions
-
-
(13,451)
Disposals
(13,451)
At 31 March 2024
102,876
27,845
9,740
140,461
Provision for depreciation and impairment
At 01 April 2023
38,450
6,078
10,418
21,954
Charge for year
24,519
981
3,164
20,374
(2,998)
-
-
(2,998)
On disposal
At 31 March 2024
59,971
7,059
13,582
39,330
At 31 March 2024
Net book value
63,546
14,263
2,681
80,490
At 31 March 2023
68,649
17,427
3,662
89,738
3. Inventories
2023
2024
£
£
Stocks
400
400
4. Trade and other receivables
2023
2024
£
£
Trade debtors
238,652
131,689
Other debtors
27,473
27,415
159,104
266,125
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
4,000
4,000
Trade creditors
48,159
13,067
Taxation and social security
72,399
65,795
Other creditors
173,115
114,307
297,673
197,169
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7
For the year ended 31 March 2024
Onteck Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
4,667
8,667
7. Guarantees and other financial commitments
Lease commitments
At 31 March 2024 the company had annual commitments under non-cancellable operating leases as set out below:
2024
£
Operating leases which expire:
8,082
Within 2 to 5 years
8,082
8. Average number of persons employed
During the year the average number of employees was 6 (2023 : 6)
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