Company Registration No. 12293214 (England and Wales)
Osmosis Properties Limited
Unaudited accounts
for the year ended 31 March 2023
Osmosis Properties Limited
Unaudited accounts
Contents
Osmosis Properties Limited
Company Information
for the year ended 31 March 2023
Company Number
12293214 (England and Wales)
Registered Office
152 COLES GREEN ROAD
LONDON
NW2 7HD
ENGLAND
Accountants
Jacobs & Company
152 Coles Green Road
London
NW2 7HD
Osmosis Properties Limited
Statement of financial position
as at 31 March 2023
Investment property
1,020,640
1,020,640
Cash at bank and in hand
9,103
10,580
Creditors: amounts falling due within one year
(43,875)
(26,361)
Net current liabilities
(34,284)
(15,781)
Total assets less current liabilities
986,356
1,004,859
Creditors: amounts falling due after more than one year
(924,621)
(959,647)
Called up share capital
100
100
Profit and loss account
61,635
45,112
Shareholders' funds
61,735
45,212
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
S Scop
Director
Company Registration No. 12293214
Osmosis Properties Limited
Notes to the Accounts
for the year ended 31 March 2023
Osmosis Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 12293214. 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.
Turnover is measured at the fair value of the consideration received or receivable.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 April 2022
1,020,640
At 31 March 2023
1,020,640
Amounts falling due within one year
Amounts due from group undertakings etc.
488
-
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
36,000
16,008
Amounts owed to group undertakings and other participating interests
-
7,353
See note 7 below for security given for bank loans and overdrafts.
Osmosis Properties Limited
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
824,621
859,647
Loans from directors
100,000
100,000
The bank loan is secured by a legal charge over the company's investment property and a fixed and floating charge over all the assets of the company, and a cross-guarantee in favour of LLoyds Bank plc in respect of borrowings by Osmosis Promotional Products Ltd, Pulstar Dataprint Ltd, Replay Promotions Limited, Sonata Ltd and the company.
The loan is repayable in monthly instalment of interest and capital totalling £96.000 per year.
8
Transactions with related parties
An amount of £488 (2022: £7,353) was due to Osmosis Promotional Products Limited. The company received rent of £79,500 (2022:£79,500) from Osmosis Promotional Products Limited in the year.
The company has received a loan amounting to £100,000 from S Scop the director. The loan is interest free and will not be due for repayment before 30 December 2024. At the balance sheet date, the loan is presented within creditors: amounts falling due after more than one year.
The controlling party is Osmosis Promotional Products Limited registered in England at 152 Coles Green Road London NW2 7HD.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).