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Company Registration No. 12258476 (England and Wales)
Osalma Ltd Unaudited accounts for the year ended 31 October 2023
Osalma Ltd Unaudited accounts Contents
Page
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Osalma Ltd Company Information for the year ended 31 October 2023
Directors
Aheed Osman Salma Osman
Company Number
12258476 (England and Wales)
Registered Office
ALLIED HOUSE BRYN LANE WREXHAM LL13 9UT WALES
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Osalma Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Called up share capital not paid
100 
100 
Current assets
Debtors
16,628 
10,723 
Cash at bank and in hand
6,173 
923 
22,801 
11,646 
Creditors: amounts falling due within one year
(7,527)
1,838 
Net current assets
15,274 
13,484 
Total assets less current liabilities
15,374 
13,584 
Creditors: amounts falling due after more than one year
(3,954)
- 
Net assets
11,420 
13,584 
Capital and reserves
Profit and loss account
11,420 
13,584 
Shareholders' funds
11,420 
13,584 
For the year ending 31 October 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 directors acknowledge their 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 of Directors and authorised for issue on 31 August 2024 and were signed on its behalf by
Aheed Osman Director Company Registration No. 12258476
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Osalma Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Osalma Ltd is a private company, limited by shares, registered in England and Wales, registration number 12258476. The registered office is ALLIED HOUSE, BRYN LANE, WREXHAM, LL13 9UT, WALES.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at the transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statement and there inclusion in tax assessments. unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
16,628 
7,428 
Other debtors
- 
3,295 
16,628 
10,723 
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Osalma Ltd Notes to the Accounts for the year ended 31 October 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
430 
- 
Other creditors
1,834 
(1,838)
Loans from directors
5,263 
- 
7,527 
(1,838)
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Taxes and social security
3,954 
- 
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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