Registered number
07429005
Osmaston Business Park Limited
Filleted Accounts
30 November 2021
Osmaston Business Park Limited
Registered number: 07429005
Balance Sheet
as at 30 November 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 262,400 267,200
Current assets
Debtors 4 2,258 4,589
Cash at bank and in hand 9,456 21,409
11,714 25,998
Creditors: amounts falling due within one year 5 (14,147) (12,225)
Net current (liabilities)/assets (2,433) 13,773
Total assets less current liabilities 259,967 280,973
Creditors: amounts falling due after more than one year 6 (14,403) (19,640)
Net assets 245,564 261,333
Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 250,000 250,000
Profit and loss account (4,438) 11,331
Shareholder's funds 245,564 261,333
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 and delivered 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.
Ms R O'Neill
Director
Approved by the board on 19 January 2022
Osmaston Business Park Limited
Notes to the Accounts
for the year ended 30 November 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
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 over 5 years
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.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2020 250,000 4,125 24,000 278,125
At 30 November 2021 250,000 4,125 24,000 278,125
Depreciation
At 1 December 2020 - 4,125 6,800 10,925
Charge for the year - - 4,800 4,800
At 30 November 2021 - 4,125 11,600 15,725
Net book value
At 30 November 2021 250,000 - 12,400 262,400
At 30 November 2020 250,000 - 17,200 267,200
The property, 555 Osmaston Road, Derby was professionally valued at the year end at £250,000.
It was acquired by the company at nil cost.
4 Debtors 2021 2020
£ £
Trade debtors 2,258 3,900
Other debtors - 689
2,258 4,589
5 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 3,928 -
Other creditors 10,219 12,225
14,147 12,225
6 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 14,403 19,640
7 Revaluation reserve 2021 2020
£ £
At 1 December 2020 250,000 410,000
Loss on revaluation of land and buildings - (160,000)
At 30 November 2021 250,000 250,000
8 Other information
Osmaston Business Park Limited is a private company limited by shares and incorporated in England. Its registered office is:
555 Osmaston Road
Derby
DE24 8NE
5 Ultimate controlling party
The company is under the control of the director
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