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REGISTERED NUMBER: 11730123 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 DECEMBER 2023

FOR

OSM VENTURES LIMITED

OSM VENTURES LIMITED (REGISTERED NUMBER: 11730123)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OSM VENTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 DECEMBER 2023







DIRECTOR: O S Mensah





REGISTERED OFFICE: Room 73 Wrest House
Wrest Park
Silsoe
MK45 4HR





REGISTERED NUMBER: 11730123 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

OSM VENTURES LIMITED (REGISTERED NUMBER: 11730123)

BALANCE SHEET
30 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,363 2,367

CURRENT ASSETS
Cash at bank 13 30

CREDITORS
Amounts falling due within one year 5 39,458 40,265
NET CURRENT LIABILITIES (39,445 ) (40,235 )
TOTAL ASSETS LESS CURRENT LIABILITIES (38,082 ) (37,868 )

CREDITORS
Amounts falling due after more than one year 6 17,272 13,757
NET LIABILITIES (55,354 ) (51,625 )

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings (55,355 ) (51,626 )
SHAREHOLDERS' FUNDS (55,354 ) (51,625 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 September 2024 and were signed by:





O S Mensah - Director


OSM VENTURES LIMITED (REGISTERED NUMBER: 11730123)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

1. STATUTORY INFORMATION

Osm Ventures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Business bounce back loan scheme
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the Coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay in the first 12 months. After 12 months the interest rate will be 2.5% a year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 31 December 2022
and 30 December 2023 1,477 2,539 4,016
Depreciation
At 31 December 2022 615 1,034 1,649
Charge for year 370 634 1,004
At 30 December 2023 985 1,668 2,653
Net book value
At 30 December 2023 492 871 1,363
At 30 December 2022 862 1,505 2,367

OSM VENTURES LIMITED (REGISTERED NUMBER: 11730123)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 660 10,110
Director's loan account 36,998 28,356
Accruals and deferred income 1,800 1,799
39,458 40,265

The bank loan is 100% guaranteed by the government in line with the COVID scheme rules. Interest was charged at 0% in year one and at 2.5% per annum thereafter.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 17,272 13,757

The bank loan is 100% guaranteed by the government in line with the COVID scheme rules. Interest was charged at 0% in year one and at 2.5% per annum thereafter.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary 1 1 1

8. RELATED PARTY DISCLOSURES

Control and ultimate control of the company rests with O S Mensah, director.

At 30th December 2023 an amount of £36,998 (2022: £28,356) was due from the company to O S Mensah, director. The loan is interest free (2022: £Nil) with no fixed repayment terms.