Silverfin false false 30/06/2023 01/07/2022 30/06/2023 Dr Trudy Pisani 29/11/2022 Sandro Sammut 29/11/2022 06/02/2015 20 February 2024 The principal activity of the Company during the financial period was to provide marine emergency response, consultancy, training and other environmental services to the oil and gas and shipping industries. 08399133 2023-06-30 08399133 bus:Director1 2023-06-30 08399133 bus:Director2 2023-06-30 08399133 2022-06-30 08399133 core:CurrentFinancialInstruments 2023-06-30 08399133 core:CurrentFinancialInstruments 2022-06-30 08399133 core:ShareCapital 2023-06-30 08399133 core:ShareCapital 2022-06-30 08399133 core:RetainedEarningsAccumulatedLosses 2023-06-30 08399133 core:RetainedEarningsAccumulatedLosses 2022-06-30 08399133 core:PlantMachinery 2022-06-30 08399133 core:PlantMachinery 2023-06-30 08399133 bus:OrdinaryShareClass1 2023-06-30 08399133 2022-07-01 2023-06-30 08399133 bus:FilletedAccounts 2022-07-01 2023-06-30 08399133 bus:SmallEntities 2022-07-01 2023-06-30 08399133 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 08399133 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08399133 bus:Director1 2022-07-01 2023-06-30 08399133 bus:Director2 2022-07-01 2023-06-30 08399133 core:PlantMachinery 2022-07-01 2023-06-30 08399133 2021-01-01 2022-06-30 08399133 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 08399133 bus:OrdinaryShareClass1 2021-01-01 2022-06-30 08399133 1 2022-07-01 2023-06-30 iso4217:EUR xbrli:pure xbrli:shares

Company No: 08399133 (England and Wales)

OSRA MALTA LTD

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

OSRA MALTA LTD

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

OSRA MALTA LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
OSRA MALTA LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
Note 30.06.2023 30.06.2022
Fixed assets
Tangible assets 3 0 4,129
0 4,129
Current assets
Debtors 4 125,037 114,084
125,037 114,084
Creditors: amounts falling due within one year 5 0 ( 115,124)
Net current assets/(liabilities) 125,037 (1,040)
Total assets less current liabilities 125,037 3,089
Net assets 125,037 3,089
Capital and reserves
Called-up share capital 6 589 589
Profit and loss account 124,448 2,500
Total shareholder's funds 125,037 3,089

For the financial year ending 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 financial statements of OSRA Malta Ltd (registered number: 08399133) were approved and authorised for issue by the Director on 20 February 2024. They were signed on its behalf by:

Dr Trudy Pisani
Director
OSRA MALTA LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
OSRA MALTA LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

OSRA Malta Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom. The principal place of business is 2nd Floor Stratus House Emperor Way, Exeter Business Park, 2nd Floor Stratus House Emperor Way, Exeter Business Park.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in EUR which is the functional currency of the Company and rounded to the nearest €.

Going concern

In 2023 the directors made the decision that the Company would cease trading, and in March 2023 disposed of the trade to a third party. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
30.06.2023
Period from
01.01.2021 to
30.06.2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Total
Cost
At 01 July 2022 33,754 33,754
Disposals ( 33,754) ( 33,754)
At 30 June 2023 0 0
Accumulated depreciation
At 01 July 2022 29,625 29,625
Charge for the financial year 551 551
Disposals ( 30,176) ( 30,176)
At 30 June 2023 0 0
Net book value
At 30 June 2023 0 0
At 30 June 2022 4,129 4,129

4. Debtors

30.06.2023 30.06.2022
Amounts owed by Group undertakings 125,037 0
Other debtors 0 114,084
125,037 114,084

5. Creditors: amounts falling due within one year

30.06.2023 30.06.2022
Amounts owed to Group undertakings 0 112,724
Accruals 0 2,400
0 115,124

6. Called-up share capital

30.06.2023 30.06.2022
Allotted, called-up and fully-paid
500 Ordinary shares of € 1.178 each 589 589

7. Related party transactions

Other related party transactions

30.06.2023 30.06.2022
Amounts owed (to)/by parent companies 125,037 (112,724)
Amounts owed by companies under common control 0 114,084

8. Events after the Balance Sheet date

It is the director’s intention, after approval of these accounts, to declare a dividend equal to the distributable reserves of the company and to apply to Companies House to have the company struck off the register.