3 false false false false false false false false false false true false false false false false false No description of principal activity 2024-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 31,800 22,260 6,360 28,620 3,180 9,540 432 432 xbrli:pure xbrli:shares iso4217:GBP 10587860 2024-06-01 2025-05-31 10587860 2025-05-31 10587860 2024-05-31 10587860 2023-06-01 2024-05-31 10587860 2024-05-31 10587860 2023-05-31 10587860 bus:OrdinaryShareClass1 2024-06-01 2025-05-31 10587860 bus:Director1 2024-06-01 2025-05-31 10587860 core:WithinOneYear 2024-05-31 10587860 core:ShareCapital 2025-05-31 10587860 core:ShareCapital 2024-05-31 10587860 core:RetainedEarningsAccumulatedLosses 2025-05-31 10587860 core:RetainedEarningsAccumulatedLosses 2024-05-31 10587860 bus:SmallEntities 2024-06-01 2025-05-31 10587860 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 10587860 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 10587860 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 10587860 bus:FullAccounts 2024-06-01 2025-05-31 10587860 bus:OrdinaryShareClass1 2025-05-31 10587860 bus:OrdinaryShareClass1 2024-05-31 10587860 core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-06-01 2025-05-31 10587860 core:OfficeEquipment 2024-06-01 2025-05-31 10587860 core:CopyrightsPatentsTrademarksServiceOperatingRights 2025-05-31 10587860 core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-05-31 10587860 core:OfficeEquipment 2025-05-31
COMPANY REGISTRATION NUMBER: 10587860
One Guarantee Limited
Unaudited financial statements
31 May 2025
One Guarantee Limited
Statement of financial position
31 May 2025
2025
2024
Note
£
£
£
£
Fixed assets
Intangible assets
5
3,180
9,540
Current assets
Debtors
7
3,241
19,082
Cash at bank and in hand
25,230
51,010
-------
-------
28,471
70,092
Creditors: Amounts falling due within one year
8
( 67,248)
-------
-------
Net current assets
28,471
2,844
-------
-------
Total assets less current liabilities
31,651
12,384
Accruals and deferred income
( 1,800)
( 1,800)
-------
-------
Net assets
29,851
10,584
-------
-------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
29,751
10,484
-------
-------
Shareholders funds
29,851
10,584
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 August 2025 , and are signed on behalf of the board by:
Mr R E Plaster
Director
Company registration number: 10587860
One Guarantee Limited
Notes to the financial statements
Year ended 31 May 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Bridge Court, Fishergate, Norwich, NR3 1UE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for structural warranties for commercial and residential property. Revenue from the sale of structural warranties is recognised when the significant risks and rewards of ownership of the the policies have transferred to the buyer, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Trade membership
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Defined contribution pension plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 3 (2024: 5 ).
5. Intangible assets
Trade membership
£
Cost
At 1 June 2024 and 31 May 2025
31,800
-------
Amortisation
At 1 June 2024
22,260
Charge for the year
6,360
-------
At 31 May 2025
28,620
-------
Carrying amount
At 31 May 2025
3,180
-------
At 31 May 2024
9,540
-------
6. Tangible assets
Equipment
£
Cost
At 1 June 2024 and 31 May 2025
432
----
Depreciation
At 1 June 2024 and 31 May 2025
432
----
Carrying amount
At 31 May 2025
----
At 31 May 2024
----
7. Debtors
2025
2024
£
£
Trade debtors
3,241
9,920
Other debtors
9,162
------
-------
3,241
19,082
------
-------
8. Creditors: Amounts falling due within one year
2025
2024
£
£
Trade creditors
7,248
Amounts owed to related undertakings
60,000
----
-------
67,248
----
-------
9. Called up share capital
Issued, called up and fully paid
2025
2024
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
Shares issued and partly paid
2025
2024
No.
£
No.
£
Ordinary shares - £1 paid of £ 1 each
100
100
100
----
----
----
----