Company Registration No. 06536073 (England and Wales)
Osmosis Promotional Products Limited
Unaudited accounts
for the year ended 31 March 2023
Osmosis Promotional Products Limited
Unaudited accounts
Contents
Osmosis Promotional Products Limited
Company Information
for the year ended 31 March 2023
Company Number
06536073 (England and Wales)
Registered Office
152 Coles Green Road
London
NW2 7HD
England
Accountants
Jacobs & Company
152 Coles Green Road
London
NW2 7HD
Osmosis Promotional Products Limited
Statement of financial position
as at 31 March 2023
Tangible assets
71,786
84,718
Investments
213,923
254,362
Cash at bank and in hand
85,070
32,799
Creditors: amounts falling due within one year
(441,045)
(436,958)
Net current liabilities
(175,668)
(252,174)
Total assets less current liabilities
110,041
86,906
Creditors: amounts falling due after more than one year
(10,000)
(10,000)
Provisions for liabilities
Deferred tax
(7,465)
(9,167)
Called up share capital
20
20
Profit and loss account
92,556
67,719
Shareholders' funds
92,576
67,739
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 November 2023 and were signed on its behalf by
Mr S Scop
Director
Company Registration No. 06536073
Osmosis Promotional Products Limited
Notes to the Accounts
for the year ended 31 March 2023
Osmosis Promotional Products Limited is a private company, limited by shares, registered in England and Wales, registration number 06536073. The registered office is 152 Coles Green Road, London, NW2 7HD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over the life of the lease
Plant & machinery
20%- 33% on straight line basis
Motor vehicles
over 5 years on straight line basis
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in shares are included at fair value.
Osmosis Promotional Products Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
58,602
55,034
21,909
135,545
At 31 March 2023
58,602
57,261
21,909
137,772
At 1 April 2022
11,231
39,132
464
50,827
Charge for the year
5,860
6,517
2,782
15,159
At 31 March 2023
17,091
45,649
3,246
65,986
At 31 March 2023
41,511
11,612
18,663
71,786
At 31 March 2022
47,371
15,902
21,445
84,718
5
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 April 2022
159,548
94,814
254,362
Additions
-
111,468
111,468
Fair value adjustments
(151,907)
-
(151,907)
Valuation at 31 March 2023
7,641
206,282
213,923
Investments comprise:
In-Car Promotions Limited UK company - 100% shareholding - dormant
Pulstar Dataprint Limited UK company - 100% shareholding - promotional & printing
Osmosis Properties Ltd - 100% shareholding - property investment
Amounts falling due within one year
Trade debtors
176,495
109,426
Amounts due from group undertakings etc.
-
7,354
Accrued income and prepayments
45
1,651
Osmosis Promotional Products Limited
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
46,811
18,530
Amounts owed to group undertakings and other participating interests
244,093
280,838
Taxes and social security
15,192
659
Other creditors
11,436
272
Loans from directors
79,330
134,742
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
10,000
10,000
Allotted, called up and fully paid:
20 Ordinary shares of £1 each
20
20
The company is a party to a cross-guarantee in favour of HSBC Bank plc in respect of borrowings by Osmosis Properties Ltd, Replay Promotions Limited and the company.
11
Transactions with related parties
The following balances existed with related companies at 31 March 2023
An amount of £537 was due to Pulstar Dataprint Limited, a subsidiary (2022:£113,964).
An amount of £488 was due to Osmosis Properties Ltd, a subsidiary (2022: £7,354 from). The company paid rent of £79,500 to Osmosis Properties Ltd in the year (2022:£79,500).
An amount of £243,069 was due to Replay Promotions Ltd (2022:£166,873). The director Mr S Scop is a director and shareholder of Replay Promotions Ltd. Osmosis charged Replay Promotions Ltd an amount of £54,000 (2023:£54,000) for management fees and share of office costs in the year.
12
Average number of employees
During the year the average number of employees was 6 (2022: 6).