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COMPANY REGISTRATION NUMBER: 07957823
Osstem UK Limited
Filleted Unaudited Abridged Financial Statements
31 December 2021
Osstem UK Limited
Abridged Financial Statements
Year ended 31 December 2021
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Osstem UK Limited
Abridged Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
£
Current assets
Debtors
59,183
52,245
Cash at bank and in hand
81,576
32,708
---------
--------
140,759
84,953
Creditors: amounts falling due within one year
29,956
7,321
---------
--------
Net current assets
110,803
77,632
---------
--------
Total assets less current liabilities
110,803
77,632
Creditors: amounts falling due after more than one year
42,549
50,000
---------
--------
Net assets
68,254
27,632
---------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
68,154
27,532
--------
--------
Shareholders funds
68,254
27,632
--------
--------
These abridged 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 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.
Osstem UK Limited
Abridged Statement of Financial Position (continued)
31 December 2021
These abridged financial statements were approved by the board of directors and authorised for issue on 9 August 2022 , and are signed on behalf of the board by:
Mr N Nahab
Director
Company registration number: 07957823
Osstem UK Limited
Notes to the Abridged Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Spitfire Close, Huntingdon, Cambridgershire, PE29 6XY.
2. Statement of compliance
These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged 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 services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Director's advances, credits and guarantees
At the year end the director owed the company £8,760 (2020 : £8,760).
5. Related party transactions
The company was under the control of Mr N Nahab throughout the current and previous year. Mr N Nahab is the managing director and majority shareholder. During the year the company paid Mr Nawar Nahab £60,000 (2020: £60,000) in dividends.