Company Registration No. 11728230 (England and Wales)
Osbourne Upholstery Limited
Unaudited accounts
for the year ended 31 December 2023
Osbourne Upholstery Limited
Unaudited accounts
Contents
Osbourne Upholstery Limited
Company Information
for the year ended 31 December 2023
Director
Susan Jane Tusder
Company Number
11728230 (England and Wales)
Registered Office
2 PAUL GARDENS
CROYDON
SURREY
CR0 5QL
UNITED KINGDOM
Accountants
Milton & Co
International Accountants
2 Paul Gardens
Croydon
Surrey
CR0 5QL
Osbourne Upholstery Limited
Statement of financial position
as at 31 December 2023
Tangible assets
8,290
11,053
Cash at bank and in hand
37
120
Creditors: amounts falling due within one year
(97,749)
(64,053)
Net current liabilities
(94,712)
(60,933)
Total assets less current liabilities
(86,422)
(49,880)
Creditors: amounts falling due after more than one year
(8,622)
(12,350)
Net liabilities
(95,044)
(62,230)
Called up share capital
2
2
Profit and loss account
(95,046)
(62,232)
Shareholders' funds
(95,044)
(62,230)
For the year ending 31 December 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 her 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 31 January 2024 and were signed on its behalf by
Susan Jane Tusder
Director
Company Registration No. 11728230
Osbourne Upholstery Limited
Notes to the Accounts
for the year ended 31 December 2023
Osbourne Upholstery Limited is a private company, limited by shares, registered in England and Wales, registration number 11728230. The registered office is 2 PAUL GARDENS, CROYDON, SURREY, CR0 5QL, UNITED KINGDOM. The principal place of business is 81 Southampton Row, London, SW10 5AL, UK.
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.
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.
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% reducing balance basis
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.
The principal activity of the Company is that of Upholstering Furniture.
The Director does not recommend the payment of any Dividend.
The accounts have been drawn up on the going concern basis following the Director’s assessment of the company’s ability to trade for at least 12 months from the date these accounts have been approved. In conclusion, whilst there is some uncertainty, the Director does not believe there is a material uncertainty which casts significant doubt on the company’s ability to continue to trade.
Osbourne Upholstery Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
At 31 December 2023
29,200
At 31 December 2023
20,910
At 31 December 2022
11,053
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
877
571
Loans from directors
93,832
60,442
6
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
2 Ordinary shares - Susan Jane Tusder of £1 each
2
2
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).