Company Registration No. 8160961 (England and Wales)
Osprey Dynamics Limited
Unaudited accounts
for the year ended 31 July 2023
Osprey Dynamics Limited
Unaudited accounts
Contents
Osprey Dynamics Limited
Company Information
for the year ended 31 July 2023
Company Number
8160961 (England and Wales)
Registered Office
38 Hawthorne Avenue
Willerby
Hull
HU10 6JJ
United Kingdom
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
Osprey Dynamics Limited
Statement of financial position
as at 31 July 2023
Tangible assets
3,888
5,789
Cash at bank and in hand
3,124
792
Creditors: amounts falling due within one year
(9,353)
(5,589)
Net current liabilities
(3,229)
(4,797)
Total assets less current liabilities
659
992
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
45
17
Shareholders' funds
145
117
For the year ending 31 July 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 25 October 2023 and were signed on its behalf by
Mr M A Jubb
Director
Company Registration No. 8160961
Osprey Dynamics Limited
Notes to the Accounts
for the year ended 31 July 2023
Osprey Dynamics Limited is a private company, limited by shares, registered in England and Wales, registration number 8160961. The registered office is 38 Hawthorne Avenue, Willerby, Hull, HU10 6JJ, United Kingdom.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% cost
Fixtures & fittings
25% cost
Computer equipment
25% cost
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Osprey Dynamics Limited
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 August 2022
1,182
14,949
10,139
1,929
28,199
At 31 July 2023
1,182
15,673
10,139
1,929
28,923
At 1 August 2022
-
12,223
8,691
1,496
22,410
Charge for the year
-
1,346
1,074
205
2,625
At 31 July 2023
-
13,569
9,765
1,701
25,035
At 31 July 2023
1,182
2,104
374
228
3,888
At 31 July 2022
1,182
2,726
1,448
433
5,789
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
279
-
Loans from directors
8,870
5,409
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).