OSC LTD

Company Registration Number:
06349148 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2023

Period of accounts

Start date: 01 December 2022

End date: 30 November 2023

OSC LTD

Contents of the Financial Statements

for the Period Ended 30 November 2023

Balance sheet
Notes

OSC LTD

Balance sheet

As at 30 November 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 153,975 134,316
Tangible assets: 4 53,811 71,835
Total fixed assets: 207,786 206,151
Current assets
Debtors:   6,073,919 5,652,002
Cash at bank and in hand: 1,904,387 1,853,871
Total current assets: 7,978,306 7,505,873
Creditors: amounts falling due within one year: 5 (622,374) (808,634)
Net current assets (liabilities): 7,355,932 6,697,239
Total assets less current liabilities: 7,563,718 6,903,390
Provision for liabilities: (7,500) (7,500)
Total net assets (liabilities): 7,556,218 6,895,890
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 7,555,218 6,894,890
Shareholders funds: 7,556,218 6,895,890

The notes form part of these financial statements

OSC LTD

Balance sheet statements

For the year ending 30 November 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 August 2024
and signed on behalf of the board by:

Name: Mrs S J Bryant
Status: Director

The notes form part of these financial statements

OSC LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises income from the sale of training courses and is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Leasehold improvements - over the lease term Plant and machinery etc - over 5 years Fixtures, fittings, tools and equipment - over 5 years

Intangible fixed assets and amortisation policy

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Intangible fixed assets are being amortised over a period of 5 years, being the directors' estimate of useful economic life. Website development costs are amortised over a period of 3 years, being the directors' estimate of the period over which the website is expected to generate incremental sales

OSC LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

2. Employees

2023 2022
Average number of employees during the period 46 46

OSC LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Intangible Assets

Total
Cost £
At 01 December 2022 510,290
Additions 83,799
At 30 November 2023 594,089
Amortisation
At 01 December 2022 375,974
Charge for year 64,140
At 30 November 2023 440,114
Net book value
At 30 November 2023 153,975
At 30 November 2022 134,316

OSC LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Tangible Assets

Total
Cost £
At 01 December 2022 296,453
Additions 5,976
At 30 November 2023 302,429
Depreciation
At 01 December 2022 224,618
Charge for year 24,000
At 30 November 2023 248,618
Net book value
At 30 November 2023 53,811
At 30 November 2022 71,835

OSC LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Creditors: amounts falling due within one year note

2023 2022 Trade creditors 272,359 501,129 Taxation and social security costs 76,747 109,002 Accruals and deferred income 273,268 198,503 622,374 808,634

OSC LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

6. Financial commitments

Total future minimum payments on non-cancellable operating leases 2023 2022 Due within one year 115,048 87,048 Due after one year 512,354 531,402 627,402 618,450

OSC LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

7. Loans to directors

Name of director receiving advance or credit: Total
Description of the loan: Loans to Directors
£
Balance at 01 December 2022 802,956
Advances or credits made: 423,384
Advances or credits repaid: 80,000
Balance at 30 November 2023 1,146,340

Interest bearing and repayable on demand. The company charged interest at a rate of 2.75% on overdrawn directors loan accounts.

OSC LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

8. Related party transactions

Name of the related party: Ensco 1424 Limited
Relationship:
Ultimate parent undertaking
Description of the Transaction: The company has taken advantage of the exemption not to disclose transactions entered into between two members of a group provided that any subsidiary which is a party to the transaction is wholly owned.
£
Balance at 01 December 2022 4,265,460
Balance at 30 November 2023 4,489,760

The ultimate parent undertaking is Ensco 1424 Limited. The ultimate controlling party is Mrs S J Bryant by virtue of her shareholding in Ensco 1424 Limited.