The Osprey Management Group Limited 10089987 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of running public houses and restaurants. Digita Accounts Production Advanced 6.30.9574.0 true 10089987 2023-01-01 2023-12-31 10089987 2023-12-31 10089987 core:RetainedEarningsAccumulatedLosses 2023-12-31 10089987 core:ShareCapital 2023-12-31 10089987 core:CurrentFinancialInstruments 2023-12-31 10089987 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10089987 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 10089987 core:FurnitureFittingsToolsEquipment 2023-12-31 10089987 bus:SmallEntities 2023-01-01 2023-12-31 10089987 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10089987 bus:FilletedAccounts 2023-01-01 2023-12-31 10089987 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10089987 bus:RegisteredOffice 2023-01-01 2023-12-31 10089987 bus:Director1 2023-01-01 2023-12-31 10089987 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10089987 core:FurnitureFittings 2023-01-01 2023-12-31 10089987 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 10089987 countries:EnglandWales 2023-01-01 2023-12-31 10089987 2022-12-31 10089987 core:FurnitureFittingsToolsEquipment 2022-12-31 10089987 2022-01-01 2022-12-31 10089987 2022-12-31 10089987 core:RetainedEarningsAccumulatedLosses 2022-12-31 10089987 core:ShareCapital 2022-12-31 10089987 core:CurrentFinancialInstruments 2022-12-31 10089987 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 10089987 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 10089987 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure

Company Registration number: 10089987

The Osprey Management Group Limited

Annual Report and Unaudited
Financial Statements


for the Year Ended 31 December 2023

 

The Osprey Management Group Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 7

 

The Osprey Management Group Limited

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

14,497

49,883

Current assets

 

Stocks

6

15,171

11,654

Debtors

7

153,883

148,292

Cash at bank and in hand

 

248,920

213,502

 

417,974

373,448

Creditors: Amounts falling due within one year

8

(340,215)

(245,398)

Net current assets

 

77,759

128,050

Total assets less current liabilities

 

92,256

177,933

Creditors: Amounts falling due after more than one year

8

(62,855)

(318,035)

Net assets/(liabilities)

 

29,401

(140,102)

Capital and reserves

 

Called up share capital

669,478

545,793

Retained earnings

(640,077)

(685,895)

Shareholders' funds/(deficit)

 

29,401

(140,102)

 

The Osprey Management Group Limited

Balance Sheet as at 31 December 2023 (continued)

For the financial 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.

Directors' 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; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 10089987

Approved and authorised by the Board on 21 June 2024 and signed on its behalf by:
 

.........................................
Mr R W Thompson
Director

 

The Osprey Management Group Limited

Notes to the financial statements for the Year Ended 31 December 2023

1

GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
95 Main Road
High Harrington
Workington
CA14 4NQ

These financial statements were authorised for issue by the Board on 21 June 2024.

2

ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Osprey Management Group Limited

Notes to the financial statements for the Year Ended 31 December 2023 (continued)

2

ACCOUNTING POLICIES (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fittings, fixtures and equipment

25% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

The Osprey Management Group Limited

Notes to the financial statements for the Year Ended 31 December 2023 (continued)

2

ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 47 (2022 - 45).

4

PROFIT/LOSS BEFORE TAX

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

46,993

47,901

 

The Osprey Management Group Limited

Notes to the financial statements for the Year Ended 31 December 2023 (continued)

5

TANGIBLE ASSETS

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

191,929

191,929

Additions

11,606

11,606

Disposals

(12,506)

(12,506)

At 31 December 2023

191,029

191,029

Depreciation

At 1 January 2023

142,045

142,045

Charge for the year

46,993

46,993

Eliminated on disposal

(12,506)

(12,506)

At 31 December 2023

176,532

176,532

Carrying amount

At 31 December 2023

14,497

14,497

At 31 December 2022

49,883

49,883

6

STOCKS

2023
£

2022
£

Stock on hand

15,171

11,654

7

DEBTORS

Current

2023
£

2022
£

Trade debtors

139,179

114,423

Prepayments

12,364

5,922

Other debtors

2,340

27,947

 

153,883

148,292

 

The Osprey Management Group Limited

Notes to the financial statements for the Year Ended 31 December 2023 (continued)

8

CREDITORS

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

92,675

101,421

Taxation and social security

60,550

50,800

Accruals and deferred income

6,318

17,352

Other creditors

180,672

75,825

340,215

245,398

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Bank loans

50,000

50,000

Directors non-current loans

12,855

12,855

Directors loan accounts

-

255,180

62,855

318,035


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £50,000 (2022 - £50,000).