Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseNo description of principal activity44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07201800 2022-04-01 2023-03-31 07201800 2021-04-01 2022-03-31 07201800 2023-03-31 07201800 2022-03-31 07201800 c:Director1 2022-04-01 2023-03-31 07201800 d:PlantMachinery 2022-04-01 2023-03-31 07201800 d:PlantMachinery 2023-03-31 07201800 d:PlantMachinery 2022-03-31 07201800 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07201800 d:MotorVehicles 2022-04-01 2023-03-31 07201800 d:MotorVehicles 2023-03-31 07201800 d:MotorVehicles 2022-03-31 07201800 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07201800 d:OfficeEquipment 2022-04-01 2023-03-31 07201800 d:OfficeEquipment 2023-03-31 07201800 d:OfficeEquipment 2022-03-31 07201800 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07201800 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07201800 d:CurrentFinancialInstruments 2023-03-31 07201800 d:CurrentFinancialInstruments 2022-03-31 07201800 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07201800 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07201800 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07201800 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07201800 d:ShareCapital 2023-03-31 07201800 d:ShareCapital 2022-03-31 07201800 d:RetainedEarningsAccumulatedLosses 2023-03-31 07201800 d:RetainedEarningsAccumulatedLosses 2022-03-31 07201800 c:FRS102 2022-04-01 2023-03-31 07201800 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07201800 c:FullAccounts 2022-04-01 2023-03-31 07201800 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07201800 d:WithinOneYear 2023-03-31 07201800 d:WithinOneYear 2022-03-31 07201800 d:BetweenOneFiveYears 2023-03-31 07201800 d:BetweenOneFiveYears 2022-03-31 07201800 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07201800 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 07201800 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 07201800










OSGOODS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
OSGOODS LIMITED
REGISTERED NUMBER: 07201800

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
116,397
143,250

  
116,397
143,250

Current assets
  

Stocks
  
1,365
1,365

Debtors: amounts falling due within one year
 5 
4,391
4,497

Cash at bank and in hand
  
138,512
150,212

  
144,268
156,074

Creditors: amounts falling due within one year
 6 
(69,522)
(118,493)

Net current assets
  
 
 
74,746
 
 
37,581

Total assets less current liabilities
  
191,143
180,831

Creditors: amounts falling due after more than one year
  
(8,482)
-

Provisions for liabilities
  

Deferred tax
 7 
(28,229)
(34,752)

  
 
 
(28,229)
 
 
(34,752)

Net assets
  
154,432
146,079


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
154,332
145,979

  
154,432
146,079


Page 1

 
OSGOODS LIMITED
REGISTERED NUMBER: 07201800
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 January 2024.




................................................
G Osgood
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
OSGOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Osgoods Limited, (07201800), is a private company limited by shares. It is incorporated in England & Wales. The registered office is Unit 1 Kerridge Industrial Estate, Station Road, Alton, Hampshire, GU34 2PT.
The presentation currency of the company is GBP.  The financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
OSGOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
OSGOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash
Page 5

 
OSGOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 6

 
OSGOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
104,990
148,414
20,790
274,194


Additions
15,362
-
1,274
16,636



At 31 March 2023

120,352
148,414
22,064
290,830



Depreciation


At 1 April 2022
71,836
43,197
15,911
130,944


Charge for the year on owned assets
15,917
26,304
1,268
43,489



At 31 March 2023

87,753
69,501
17,179
174,433



Net book value



At 31 March 2023
32,599
78,913
4,885
116,397



At 31 March 2022
33,154
105,217
4,879
143,250


5.


Debtors

2023
2022
£
£


Trade debtors
1,203
1,581

Other debtors
2,915
2,916

Prepayments and accrued income
273
-

4,391
4,497


Page 7

 
OSGOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
5,455
-

Trade creditors
23,504
56,171

Corporation tax
28,179
13,482

Other taxation and social security
7,914
12,330

Other creditors
1,970
34,010

Accruals and deferred income
2,500
2,500

69,522
118,493



7.


Deferred taxation




2023


£






At beginning of year
(34,752)


Charged to profit or loss
6,522



At end of year
(28,230)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(28,230)
(34,752)

(28,230)
(34,752)

Page 8

 
OSGOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
22,020
22,020

Later than 1 year and not later than 5 years
38,535
60,555

60,555
82,575

 
Page 9