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REGISTERED NUMBER: 05041292 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2023

FOR

OSBORN CONTINENTAL LIMITED

OSBORN CONTINENTAL LIMITED (REGISTERED NUMBER: 05041292)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OSBORN CONTINENTAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTOR: J D Osborn





SECRETARY: Mrs J T Osborn





REGISTERED OFFICE: First Floor
13a High Street
Edenbridge
Kent
TN8 5AB





REGISTERED NUMBER: 05041292 (England and Wales)





ACCOUNTANTS: Currie Accountancy Limited
Chartered Accountants
First Floor
13a High Street
Edenbridge
Kent
TN8 5AB

OSBORN CONTINENTAL LIMITED (REGISTERED NUMBER: 05041292)

BALANCE SHEET
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 108,008 97,270

CURRENT ASSETS
Debtors 5 20,730 6,646
Cash at bank 67,268 65,004
87,998 71,650
CREDITORS
Amounts falling due within one year 6 168,803 124,399
NET CURRENT LIABILITIES (80,805 ) (52,749 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,203

44,521

CREDITORS
Amounts falling due after more than one
year

7

(24,333

)

(34,333

)

PROVISIONS FOR LIABILITIES 8 (14,232 ) (20,255 )
NET LIABILITIES (11,362 ) (10,067 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (11,462 ) (10,167 )
SHAREHOLDERS' FUNDS (11,362 ) (10,067 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 CONTINENTAL LIMITED (REGISTERED NUMBER: 05041292)

BALANCE SHEET - continued
28TH FEBRUARY 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 director and authorised for issue on 20th November 2023 and were signed by:





J D Osborn - Director


OSBORN CONTINENTAL LIMITED (REGISTERED NUMBER: 05041292)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023


1. STATUTORY INFORMATION

Osborn Continental Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of services provided, excluding value added tax.

Tangible fixed assets
Depreciation is provided at 25% per annum on the reducing balance basis in order to write off each asset over its estimated useful life.

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.

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.

OSBORN CONTINENTAL LIMITED (REGISTERED NUMBER: 05041292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st March 2022 323,022 2,220 325,242
Additions 82,511 - 82,511
Disposals (90,529 ) - (90,529 )
At 28th February 2023 315,004 2,220 317,224
DEPRECIATION
At 1st March 2022 225,968 2,004 227,972
Charge for year 35,950 54 36,004
Eliminated on disposal (54,760 ) - (54,760 )
At 28th February 2023 207,158 2,058 209,216
NET BOOK VALUE
At 28th February 2023 107,846 162 108,008
At 28th February 2022 97,054 216 97,270

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 11,398
At 28th February 2023 11,398
DEPRECIATION
Charge for year 2,850
At 28th February 2023 2,850
NET BOOK VALUE
At 28th February 2023 8,548

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,730 6,646

OSBORN CONTINENTAL LIMITED (REGISTERED NUMBER: 05041292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 5,018 -
Trade creditors 39,786 12,641
Taxation and social security 44,799 42,671
Other creditors 69,200 59,087
168,803 124,399

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 24,333 34,333

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 16,899 22,354
Available losses (2,667 ) (2,099 )
14,232 20,255

Deferred
tax
£   
Balance at 1st March 2022 20,255
Credit to Income Statement during year (6,023 )
Balance at 28th February 2023 14,232