Registered number: 04923164
Osirian Group Limited
Unaudited
Financial statements
for the year ended 31 December 2023
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Osirian Group Limited
Contents
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Statement of Changes in Equity
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Notes to the Financial Statements
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Osirian Group Limited
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Osirian Group Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Osirian Group Limited for the year ended 31 December 2023 which comprise the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the director of Osirian Group Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Osirian Group Limited and state those matters that we have agreed to state to the director of Osirian Group Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Osirian Group Limited and its director for our work or for this report.
It is your duty to ensure that Osirian Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Osirian Group Limited. You consider that Osirian Group Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Osirian Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kreston Reeves LLP
Chartered Accountants
2nd Floor
168 Shoreditch High Street
London
E1 6RA
8 August 2024
Page 1
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Osirian Group Limited
Registered number: 04923164
Balance Sheet
as at 31 December 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Capital redemption reserve
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The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 4 to 7 form part of these financial statements.
Page 2
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Osirian Group Limited
Statement of Changes in Equity
for the year ended 31 December 2023
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Capital redemption reserve
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Comprehensive income for the year
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Total comprehensive income for the year
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Interim Dividends: Equity capital
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The notes on pages 4 to 7 form part of these financial statements.
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Statement of Changes in Equity
for the year ended 31 December 2022
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Capital redemption reserve
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Comprehensive income for the year
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Total comprehensive income for the year
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Interim Dividends: Equity capital
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The notes on pages 4 to 7 form part of these financial statements.
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Page 3
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Osirian Group Limited
Notes to the Financial Statements
for the year ended 31 December 2023
Osirian Group Limited (the company) is a private limited company incorporated and domiciled in England & Wales. The address of its registered office is 25 Underhill, Moulsford, Wallingford, South Oxon, OX10 9JH.
The principle activity of the company in the year under review was that of a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 4
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Osirian Group Limited
Notes to the Financial Statements
for the year ended 31 December 2023
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Interest income is recognised in profit or loss using the effective interest method.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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The average monthly number of employees, including directors, during the year was 2 (2022 - 2).
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Page 5
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Osirian Group Limited
Notes to the Financial Statements
for the year ended 31 December 2023
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Investments in subsidiary companies
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Page 6
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Osirian Group Limited
Notes to the Financial Statements
for the year ended 31 December 2023
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Allotted, called up and fully paid
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750 (2022: 750) A Ordinary Shares of £1.00 each
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241 (2022: 241) B Ordinary Shares of £1.00 each
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Capital redemption reserve
The capital redemption reserve is created on the buy-back of shares when fresh shares are not issued.
Profit and loss account
The profit and loss account comprises all current and prior period retained profits and losses.
Share capital
This represents the nominal value of shares that have been issued by the company.
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Related party transactions
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During the year the company was loaned £128,450 (2022: £68,000) by Osirian Consulting Limited, its subsidiary undertaking. Over the same period, Osirian Consulting Limited was invoiced £12,000 (2022: £12,000) on commercial terms.
During the year Osirian Consulting Limited paid an interim dividend of £100,000 (2022: £100,000) to Osirian Group Limited.
The balance owed to Osirian Consulting Limited at the year end was £4,968 (2022: £23,418) and is included within 'Debtors: amounts owed by group undertakings'. Interest of £1,558 (2022: £719) has been accrued in relation to the loan.
As at the year end the company was owed £30,000 from C J Lapthorn (2022: £30,000).
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The company is under the control of C J Lapthorn.
Page 7
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