Registered number: 08894035 | ||||||||
FOR THE 335 DAY PERIOD ENDED 29/02/2024 | ||||||||
Prepared By: | ||||||||
ONRG Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THE 335 DAY PERIOD ENDED 29/02/2024 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
REGISTERED OFFICE | ||||||||
Norfolk | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 08894035 | ||||||||
ACCOUNTANTS |
ONRG Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THE335 DAY PERIODENDED29/02/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
ONRG Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 3 | |||||||||
Cash at bank and in hand | ||||||||||
1,785,431 | 1,827,435 | |||||||||
CREDITORS: Amounts falling due within one year | 4 | |||||||||
NET CURRENT ASSETS | 1,497,280 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 6 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 7 | |||||||||
Profit and loss account | 1,459,568 | 1,604,207 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
ONRG Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE 335 DAY PERIOD ENDED 29/02/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. | ||||||||
Fixtures And Fittings | reducing balance15% | |||||||
Equipment | reducing balance33% | |||||||
Motor Cars | reducing balance25% |
1c. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1d. Foreign Currency | ||||||||
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated. |
1e. Financial Instruments | ||||||||
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. | ||||||||
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are initially measured at amortised cost. | ||||||||
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
ONRG Ltd | ||||||||
2. TANGIBLE FIXED ASSETS | ||||||||
Fixtures | ||||||||
and Fittings | Equipment | Motor Cars | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 01/04/2023 | 37,459 | 112,581 | 125,492 | 275,532 | ||||
Additions | - | 8,190 | - | 8,190 | ||||
Disposals | - | (69,335) | (125,492) | (194,827) | ||||
At 29/02/2024 | 37,459 | 51,436 | - | 88,895 | ||||
Depreciation | ||||||||
At 01/04/2023 | 16,136 | 85,643 | 57,213 | 158,992 | ||||
Disposals | - | (69,335) | (69,922) | (139,257) | ||||
For the 335 day period | 2,975 | 16,686 | 12,709 | 32,370 | ||||
At 29/02/2024 | 19,111 | 32,994 | - | 52,105 | ||||
Net Book Amounts | ||||||||
At 29/02/2024 | 36,790 | |||||||
At 31/03/2023 | 116,540 | |||||||
3. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 252,588 | 6,287 | ||||||
Other debtors | - | 70,114 | ||||||
Prepayments | 28,184 | 11,676 | ||||||
Accrued income | 160,489 | 226,463 | ||||||
441,261 | 314,540 | |||||||
Amounts falling due over more than one year | ||||||||
Long term debtor OEG Renewables Group Ltd | 747,794 | - | ||||||
747,794 | - | |||||||
ONRG Ltd | ||||||||
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 75,911 | 220,845 | ||||||
VAT | 52,523 | 23,441 | ||||||
PAYE control | 46,050 | 12,761 | ||||||
Salaries and wages control | 80,046 | 24,473 | ||||||
Directors current account | - | 12,407 | ||||||
Trade creditors | 35,614 | 31,548 | ||||||
Pension schemes | 1,183 | 770 | ||||||
Accruals | 61,130 | 3,910 | ||||||
352,457 | 330,155 | |||||||
5. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 8 | |||||
6. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 10,096 | 9,513 | ||||||
10,096 | 9,513 | |||||||
7. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||