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REGISTERED NUMBER: 08058531 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Osborn & Kent Construction Limited

Osborn & Kent Construction Limited (Registered number: 08058531)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Osborn & Kent Construction Limited (Registered number: 08058531)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 297,095 320,246

CURRENT ASSETS
Stocks 55,000 55,000
Debtors 5 964,904 780,241
Cash at bank 283,563 79,810
1,303,467 915,051
CREDITORS
Amounts falling due within one year 6 676,812 322,914
NET CURRENT ASSETS 626,655 592,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

923,750

912,383

CREDITORS
Amounts falling due after more than one
year

7

(269,584

)

(265,368

)

PROVISIONS FOR LIABILITIES (74,273 ) (60,845 )
NET ASSETS 579,893 586,170

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 579,863 586,140
SHAREHOLDERS' FUNDS 579,893 586,170

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Osborn & Kent Construction Limited (Registered number: 08058531)

Balance Sheet - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:




Mr C Osborn - Director Mr M C Kent - Director




Mr J C Kent - Director


Osborn & Kent Construction Limited (Registered number: 08058531)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Osborn & Kent Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08058531

Registered office: Unit 7
Allenbrooks Way
Wymondham
Norfolk
NR18 0NW

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Osborn & Kent Construction Limited (Registered number: 08058531)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 532,915
Additions 56,605
Disposals (21,595 )
At 31 May 2023 567,925
DEPRECIATION
At 1 June 2022 212,669
Charge for year 75,793
Eliminated on disposal (17,632 )
At 31 May 2023 270,830
NET BOOK VALUE
At 31 May 2023 297,095
At 31 May 2022 320,246

Osborn & Kent Construction Limited (Registered number: 08058531)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 791,446 636,950
Other debtors 1,200 1,200
VAT 166,249 136,736
Prepayments 6,009 5,355
964,904 780,241

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 92,004 67,339
Hire purchase contracts 45,132 47,386
Trade creditors 421,772 157,015
Taxation 63,198 6,077
Social security and other taxes 13,910 12,810
Other creditors 841 445
Directors' current accounts 28,804 28,492
Accrued expenses 11,151 3,350
676,812 322,914

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans > 1 years 196,938 191,488
Hire purchase contracts 72,646 73,880
269,584 265,368