OneSelect Ltd
Registered number: 09689085
Statement of Financial Position
as at 31 December 2017
Notes 2017 2016
£ £
Fixed assets
Intangible assets 3 90,000 -
Current assets
Debtors 4 7,162,457 1
Cash at bank and in hand 462,303 -
7,624,760 1
Creditors: amounts falling due within one year 5 (7,472,988) -
Net current assets 151,772 1
Net assets 241,772 1
Capital and reserves
Called up share capital 100 1
Profit and loss account 241,672 -
Shareholders' funds 241,772 1
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
S Sampar
Approved by the board on 23 April 2018
OneSelect Ltd
Notes to the Accounts
for the period from 1 August 2016 to 31 December 2017
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.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in the notes below.
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.
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.
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.
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.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 2 -
3 Intangible fixed assets £
Trading licence
Additions 100,000
At 31 December 2017 100,000
Provided during the period 10,000
At 31 December 2017 10,000
Net book value
At 31 December 2017 90,000
The trading licence is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2017 2016
£ £
Accrued income 5,617,937 -
Other debtors 1,544,520 1
7,162,457 1
5 Creditors: amounts falling due within one year 2017 2016
£ £
Accruals 1,000 -
Corporation tax 58,427 -
Other creditors 7,413,561 -
7,472,988 -
6 Related party transactions 2017 2016
£ £
SPAA Holding Ltd
Company in which S Sampar is director and 100% shareholder
Amount due from (to) the related party 50,534 -
7 Other information
OneSelect Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7th Floor
Reading Bridge House
George Street
8 Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 August 2015.

No transitional adjustments were required in equity or profit or loss for the year.
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