Onetouchservices Limited
Registered number: 09114508
Statement of Financial Position
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,400 3,600
Tangible assets 4 2,705 3,607
5,105 7,207
Current assets
Stocks 16,780 18,950
Debtors 5 19,629 15,001
Cash at bank and in hand 60,893 40,734
97,302 74,685
Creditors: amounts falling due within one year 6 (66,952) (61,708)
Net current assets 30,350 12,977
Total assets less current liabilities 35,455 20,184
Provisions for liabilities (641) (244)
Net assets 34,814 19,940
Capital and reserves
Called up share capital 1 1
Profit and loss account 34,813 19,939
Shareholder's funds 34,814 19,940
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Henson
Director
Approved by the board on 15 September 2025
Onetouchservices Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction 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.
Creditors
Short term creditors are measured at transaction 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 6,000
At 31 December 2024 6,000
Amortisation
At 1 January 2024 2,400
Provided during the year 1,200
At 31 December 2024 3,600
Net book value
At 31 December 2024 2,400
At 31 December 2023 3,600
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 3,027 17,350 20,377
At 31 December 2024 3,027 17,350 20,377
Depreciation
At 1 January 2024 1,735 15,035 16,770
Charge for the year 323 579 902
At 31 December 2024 2,058 15,614 17,672
Net book value
At 31 December 2024 969 1,736 2,705
At 31 December 2023 1,292 2,315 3,607
5 Debtors 2024 2023
£ £
Trade debtors 18,922 12,552
Prepayments 697 2,449
Other debtors 10 -
19,629 15,001
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,602 3,342
Accruals 1,210 1,150
Corporation tax 15,943 3,783
Other taxes and social security costs 18,006 15,970
Other creditors 28,191 37,463
66,952 61,708
7 Prior year adjustment
The comparative figures have been restated to correct the a fixed asset disposed of in error. The change has resulted in profits available for distribution at 31 December 2023 increasing by £3,087
Summary of prior year accounting impact:
£
Increase in motor vehicles net book value 3,087
Increase in profits available for distribution 3,087
8 Other information
Onetouchservices Limited is a private company limited by shares and incorporated in England. Its registered office is:
24 High Street
Bagshot
Surrey
GU19 5AA
Onetouchservices Limited 09114508 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts July 2024 C Henson No description of principal activity 09114508 2023-01-01 2023-12-31 09114508 core:WithinOneYear 2023-12-31 09114508 core:ShareCapital 2023-12-31 09114508 core:RetainedEarningsAccumulatedLosses 2023-12-31 09114508 2024-01-01 2024-12-31 09114508 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09114508 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 09114508 bus:Director40 2024-01-01 2024-12-31 09114508 1 2024-01-01 2024-12-31 09114508 2 2024-01-01 2024-12-31 09114508 core:Goodwill 2024-01-01 2024-12-31 09114508 core:PlantMachinery 2024-01-01 2024-12-31 09114508 core:Vehicles 2024-01-01 2024-12-31 09114508 1 2024-01-01 2024-12-31 09114508 countries:England 2024-01-01 2024-12-31 09114508 bus:FRS102 2024-01-01 2024-12-31 09114508 bus:FilletedAccounts 2024-01-01 2024-12-31 09114508 2024-12-31 09114508 core:WithinOneYear 2024-12-31 09114508 core:ShareCapital 2024-12-31 09114508 core:RetainedEarningsAccumulatedLosses 2024-12-31 09114508 core:Goodwill 2024-12-31 09114508 core:PlantMachinery 2024-12-31 09114508 core:Vehicles 2024-12-31 09114508 2023-12-31 09114508 core:Goodwill 2023-12-31 09114508 core:PlantMachinery 2023-12-31 09114508 core:Vehicles 2023-12-31 iso4217:GBP xbrli:pure