Registered number
09046812
OSPREY BUILDING CONSULTING LTD
Unaudited Filleted Accounts
31 May 2023
OSPREY BUILDING CONSULTING LTD
Registered number: 09046812
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,238 11,533
Current assets
Stocks 10,138 14,190
Debtors 4 15,053 10,975
Cash at bank and in hand 38,272 25,217
63,463 50,382
Creditors: amounts falling due within one year 5 (27,460) (23,845)
Net current assets 36,003 26,537
Net assets 49,241 38,070
Capital and reserves
Called up share capital 1 1
Profit and loss account 49,240 38,069
Shareholder's funds 49,241 38,070
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Egan
Director
Approved by the board on 12 January 2024
OSPREY BUILDING CONSULTING LTD
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Fixtures and fittings over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures & Fittings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2022 16,301 13,026 29,327
Additions 4,081 - 4,081
At 31 May 2023 20,382 13,026 33,408
Depreciation
At 1 June 2022 4,768 13,026 17,794
Charge for the year 2,376 - 2,376
At 31 May 2023 7,144 13,026 20,170
Net book value
At 31 May 2023 13,238 - 13,238
At 31 May 2022 11,533 - 11,533
4 Debtors 2023 2022
£ £
Trade debtors 10,473 10,975
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 13,938 19,927
Other creditors 13,522 3,918
27,460 23,845
6 Other information
OSPREY BUILDING CONSULTING LTD is a private company limited by shares and incorporated in England. Its registered office is:
58 Wickham Road
Highams Parl
London
E4 9JR
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