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REGISTERED NUMBER: 05792211 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

ONWELL LTD

ONWELL LTD (REGISTERED NUMBER: 05792211)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ONWELL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: C Damen





SECRETARY: Mrs B Damen





REGISTERED OFFICE: 15 Clifton Gardens
South Tottenham
London
N15 6AP





REGISTERED NUMBER: 05792211 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

ONWELL LTD (REGISTERED NUMBER: 05792211)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 335,640 335,640
335,640 335,640

CURRENT ASSETS
Debtors 6 111,000 118,000
Investments 7 4,180 4,180
Cash at bank 6,666 3,693
121,846 125,873
CREDITORS
Amounts falling due within one year 8 (98,083 ) (86,452 )
NET CURRENT ASSETS 23,763 39,421
TOTAL ASSETS LESS CURRENT
LIABILITIES

359,403

375,061

CREDITORS
Amounts falling due after more than one
year

9

(242,887

)

(250,696

)

PROVISIONS FOR LIABILITIES (9,032 ) (9,032 )
NET ASSETS 107,484 115,333

CAPITAL AND RESERVES
Called up share capital 11 1 1
Revaluation reserve 12 47,535 47,535
Retained earnings 12 59,948 67,797
SHAREHOLDERS' FUNDS 107,484 115,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

ONWELL LTD (REGISTERED NUMBER: 05792211)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2024


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 10 June 2025 and were signed by:





C Damen - Director


ONWELL LTD (REGISTERED NUMBER: 05792211)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Onwell 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

ONWELL LTD (REGISTERED NUMBER: 05792211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 October 2023
and 30 September 2024 1,060
DEPRECIATION
At 1 October 2023
and 30 September 2024 1,060
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 335,640
NET BOOK VALUE
At 30 September 2024 335,640
At 30 September 2023 335,640

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2020 64,700
Valuation in 2021 (17,165 )
Cost 288,105
335,640

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 111,000 118,000

7. CURRENT ASSET INVESTMENTS
30.9.24 30.9.23
£    £   
Unlisted investments 4,180 4,180

ONWELL LTD (REGISTERED NUMBER: 05792211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 1,229 475
Taxation and social security - 763
Other creditors 96,854 85,214
98,083 86,452

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans (see note 10) 221,220 219,030
Other creditors 21,667 31,666
242,887 250,696

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 221,220 74,018

Repayable by instalments
Other loans more 5yrs instal 21,667 31,666

10. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - 145,012

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 221,220 74,018

Repayable by instalments
Other loans more 5yrs instal 21,667 31,666

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
1 Ordinary £1 1 1

ONWELL LTD (REGISTERED NUMBER: 05792211)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2023 67,797 47,535 115,332
Deficit for the year (7,849 ) (7,849 )
At 30 September 2024 59,948 47,535 107,483

13. ULTIMATE CONTROLLING PARTY

The controlling party is C Damen.