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Registered Number: 09643935
England and Wales

 

 

 

OSMAN WEALTH MANAGEMENT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
  2023   2022
    £ £   £ £
Fixed assets   497,796      431,179 
Current assets 460,865      550,197   
Creditors: amount falling due within one year (227,069)     (244,901)  
Net current assets   233,796      305,296 
Total assets less current liabilities   731,592      736,475 
Net assets   731,592      736,475 
 

         
Capital and reserves   731,592      736,475 
 
NOTES TO THE ACCOUNTS

General Information
OSMAN WEALTH MANAGEMENT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09643935, registration address Suit E Quayside House, Chatham Maritime, Chatham, Kent , ME4 4QZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Reducing Balance
2.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 July 2022 478,738    478,738 
Additions 126,166    126,166 
Disposals  
At 30 June 2023 604,904    604,904 
Amortisation
At 01 July 2022 49,874    49,874 
Charge for year 60,490    60,490 
On disposals  
At 30 June 2023 110,364    110,364 
Net book values
At 30 June 2023 494,540    494,540 
At 30 June 2022 428,864    428,864 


3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 July 2022 8,713    8,713 
Additions 2,026    2,026 
Disposals  
At 30 June 2023 10,739    10,739 
Depreciation
At 01 July 2022 6,398    6,398 
Charge for year 1,085    1,085 
On disposals  
At 30 June 2023 7,483    7,483 
Net book values
Closing balance as at 30 June 2023 3,256    3,256 
Opening balance as at 01 July 2022 2,315    2,315 


4.

Average No of Employees


Average number of employees during the year was 1 (2022 : 1).


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

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

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts.
The financial statements were approved by the director on 29 March 2024 and were signed by:


--------------------------------
Sheba Osman
Director
1