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ONUNDA LIMITED

(formerly GETGO RECYCLING LIMITED)

Registered Number
14520867
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

ONUNDA LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

MCINTYRE, Neil Stuart
MEYER, James Colin
SAMSON, Thomas
SCOWCROFT, Brian Kenneth
THOMSON, Alan

Registered Address

The Marketing Suite Baron Way
Kingmoor Business Park
Carlisle
CA6 4SJ

Registered Number

14520867 (England and Wales)
ONUNDA LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3230,633256,259
230,633256,259
Current assets
Debtors56,47051,652
Cash at bank and on hand26,174-
32,64451,652
Creditors amounts falling due within one year6(597,686)(311,111)
Net current assets (liabilities)(565,042)(259,459)
Total assets less current liabilities(334,409)(3,200)
Net assets(334,409)(3,200)
Capital and reserves
Called up share capital400400
Profit and loss account(334,809)(3,600)
Shareholders' funds(334,409)(3,200)
The financial statements were approved and authorised for issue by the Board of Directors on 20 December 2024, and are signed on its behalf by:
MCINTYRE, Neil Stuart
Director
Registered Company No. 14520867
ONUNDA LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The company's previous name was Getgo Recycling Limited.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
At the balance sheet date the company's balance sheet is in deficit. The major creditor of the company is Mitchell Dryers (Kingmoor) Limited, a company which was under the common control of the director Mr B Scowcroft and entered liquidation on 5 October 2023.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year21
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 23256,259256,259
At 31 March 24256,259256,259
Amortisation and impairment
Charge for year25,62625,626
At 31 March 2425,62625,626
Net book value
At 31 March 24230,633230,633
At 31 March 23256,259256,259
4.Useful life of intangible assets
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of other intangibles has been set at 10 years and the asset will be amortised on a straight line basis over that period.
5.Debtors: amounts due within one year

2024

2023

££
Other debtors6,47051,652
Total6,47051,652
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables339,975307,511
Other creditors156,963-
Accrued liabilities and deferred income100,7483,600
Total597,686311,111
7.Operating lease commitments
At 31 March 2024 the company had future minimum lease payments outstanding under non-cancellable operating leases of £8,250 (2023 - £nil).
8.Directors advances, credits and guarantees
On 01 April 2023, the directors owed the company £80. During the period, the directors were advanced a further £320 and repaid £nil. As at 31 March 2024, the directors owed the company £400. No interest was charged on this loan.