Registered number
12981242
Osprey Developments Southern Limited
Filleted Accounts
31 December 2023
Osprey Developments Southern Limited
Registered number: 12981242
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 33,716 45,016
Current assets
Stocks 597,043 737,017
Debtors 4 8,018 2,339
Cash at bank and in hand 2,750 17,028
607,811 756,384
Creditors: amounts falling due within one year 5 (30,880) (34,736)
Net current assets 576,931 721,648
Total assets less current liabilities 610,647 766,664
Creditors: amounts falling due after more than one year 6 (652,801) (794,951)
Net liabilities (42,154) (28,287)
Capital and reserves
Called up share capital 4 4
Profit and loss account (42,158) (28,291)
Shareholders' funds (42,154) (28,287)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
SJ Fitzpatrick
Director
Approved by the board on 12 September 2024
Osprey Developments Southern Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover in 2022 represents the sale of one new built property at 4B Quibo Lane, Weymouth, DT4 0RR. Turnover in 2023 represents the sale of one new built property at 4A Quibo Lane, Weymouth, DT4 0RR.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stock represents the cost of buying land and constructing two new dwellings at 14/16 Hendford Road, Bournemouth and buying land at Hardy Road, Poole, BH22 0EX for future development.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at 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. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 56,910 8,000 64,910
Additions 2,103 - 2,103
At 31 December 2023 59,013 8,000 67,013
Depreciation
At 1 January 2023 18,294 1,600 19,894
Charge for the year 11,803 1,600 13,403
At 31 December 2023 30,097 3,200 33,297
Net book value
At 31 December 2023 28,916 4,800 33,716
At 31 December 2022 38,616 6,400 45,016
4 Debtors 2023 2022
£ £
Trade debtors - 766
Other debtors 8,018 1,573
8,018 2,339
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 7,065 19,515
Taxation and social security costs (776) (8,199)
Other creditors 24,591 23,420
30,880 34,736
6 Creditors: amounts falling due after one year 2023 2022
£ £
P&K Electrical (Southern) Ltd 652,801 794,951
7 Controlling party
The company is controlled by SJ Fitzpatrick, SP Fitzpatrick, P McElhatton and K Lever.
8 Other information
Osprey Developments Southern Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Ringwood Road
Walkford
Christchurch
Dorset
BH23 5RD
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