6 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07604367 2022-07-01 2023-06-30 07604367 2023-06-30 07604367 2022-06-30 07604367 2021-07-01 2022-06-30 07604367 2022-06-30 07604367 core:MotorVehicles 2022-07-01 2023-06-30 07604367 bus:Director1 2022-07-01 2023-06-30 07604367 core:MotorVehicles 2022-06-30 07604367 core:MotorVehicles 2023-06-30 07604367 core:AfterOneYear 2023-06-30 07604367 core:AfterOneYear 2022-06-30 07604367 core:WithinOneYear 2023-06-30 07604367 core:WithinOneYear 2022-06-30 07604367 core:ShareCapital 2023-06-30 07604367 core:ShareCapital 2022-06-30 07604367 core:RetainedEarningsAccumulatedLosses 2023-06-30 07604367 core:RetainedEarningsAccumulatedLosses 2022-06-30 07604367 core:MotorVehicles 2022-06-30 07604367 bus:SmallEntities 2022-07-01 2023-06-30 07604367 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 07604367 bus:FullAccounts 2022-07-01 2023-06-30 07604367 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 07604367 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07604367 core:PlantMachinery 2022-07-01 2023-06-30 07604367 core:PlantMachinery 2022-06-30 07604367 core:PlantMachinery 2023-06-30 07604367 1 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 07604367
Osprey Metal Finishers Ltd
Filleted Unaudited Financial Statements
30 June 2023
Osprey Metal Finishers Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
22,459
10,225
Current assets
Debtors
6
40,919
55,165
Cash at bank and in hand
188,910
209,320
---------
---------
229,829
264,485
Creditors: amounts falling due within one year
7
46,640
38,258
---------
---------
Net current assets
183,189
226,227
---------
---------
Total assets less current liabilities
205,648
236,452
Creditors: amounts falling due after more than one year
8
30,031
40,446
---------
---------
Net assets
175,617
196,006
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
175,616
196,005
---------
---------
Shareholders funds
175,617
196,006
---------
---------
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 30 June 2023 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 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 financial statements .
Osprey Metal Finishers Ltd
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 2 November 2023 , and are signed on behalf of the board by:
Mr D Lewis
Director
Company registration number: 07604367
Osprey Metal Finishers Ltd
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2, 32-34 Station Close, Potters Bar, Herts, EN6 1BT.
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, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax
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:
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly .
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 July 2022
15,835
62,044
77,879
Additions
20,495
20,495
--------
--------
--------
At 30 June 2023
36,330
62,044
98,374
--------
--------
--------
Depreciation
At 1 July 2022
12,955
54,699
67,654
Charge for the year
6,250
2,011
8,261
--------
--------
--------
At 30 June 2023
19,205
56,710
75,915
--------
--------
--------
Carrying amount
At 30 June 2023
17,125
5,334
22,459
--------
--------
--------
At 30 June 2022
2,880
7,345
10,225
--------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
40,919
55,165
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
19,682
20,736
Social security and other taxes
25,107
15,671
Other creditors
1,851
1,851
--------
--------
46,640
38,258
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
30,031
40,446
--------
--------
9. Controlling party
The company was under the control of Mr D Lewis throughout the current and previous year. Mr D Levis is the managing director and majority shareholder.