12 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,234 1,615 323 1,938 1,296 1,619 xbrli:pure xbrli:shares iso4217:GBP 3049481 2023-01-01 2023-12-31 3049481 2023-12-31 3049481 2022-12-31 3049481 2022-01-01 2022-12-31 3049481 2022-12-31 3049481 2021-12-31 3049481 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 3049481 core:PlantMachinery 2023-01-01 2023-12-31 3049481 core:FurnitureFittings 2023-01-01 2023-12-31 3049481 core:MotorVehicles 2023-01-01 2023-12-31 3049481 bus:Director9 2023-01-01 2023-12-31 3049481 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 3049481 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 3049481 core:PlantMachinery 2022-12-31 3049481 core:FurnitureFittings 2022-12-31 3049481 core:MotorVehicles 2022-12-31 3049481 core:PlantMachinery 2023-12-31 3049481 core:FurnitureFittings 2023-12-31 3049481 core:MotorVehicles 2023-12-31 3049481 core:WithinOneYear 2023-12-31 3049481 core:WithinOneYear 2022-12-31 3049481 core:ShareCapital 2023-12-31 3049481 core:ShareCapital 2022-12-31 3049481 core:SharePremium 2023-12-31 3049481 core:SharePremium 2022-12-31 3049481 core:RetainedEarningsAccumulatedLosses 2023-12-31 3049481 core:RetainedEarningsAccumulatedLosses 2022-12-31 3049481 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 3049481 core:PlantMachinery 2022-12-31 3049481 core:FurnitureFittings 2022-12-31 3049481 core:MotorVehicles 2022-12-31 3049481 bus:SmallEntities 2023-01-01 2023-12-31 3049481 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 3049481 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 3049481 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 3049481 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 3049481
OSBOURNE PURDIE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
OSBOURNE PURDIE LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
OSBOURNE PURDIE LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
1,296
1,619
Tangible assets
6
22,078
25,755
---------
---------
23,374
27,374
Current assets
Debtors
7
515,233
460,088
Cash at bank and in hand
805,035
826,322
-------------
-------------
1,320,268
1,286,410
Creditors: amounts falling due within one year
8
( 892,607)
( 666,536)
-------------
-------------
Net current assets
427,661
619,874
----------
----------
Total assets less current liabilities
451,035
647,248
Provisions
Taxation including deferred tax
( 5,838)
( 4,477)
----------
----------
Net assets
445,197
642,771
----------
----------
OSBOURNE PURDIE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
12,125
12,125
Share premium account
6,800
6,800
Profit and loss account
426,272
623,846
----------
----------
Shareholders funds
445,197
642,771
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
T J Gardiner
Director
Company registration number: 3049481
OSBOURNE PURDIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lee Barns, Lee Lane, Maidenhead, Berks, SL6 6PE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Revenue recognition
The turnover shown in the profit and loss account represents the value of all work done during the period, exclusive of Value Added Tax. Turnover is recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the sale have been transferred to the customer.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Trademarks
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Fixtures & Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2022: 11 ).
5. Intangible assets
Trademarks
£
Cost
At 1 January 2023 and 31 December 2023
3,234
-------
Amortisation
At 1 January 2023
1,615
Charge for the year
323
-------
At 31 December 2023
1,938
-------
Carrying amount
At 31 December 2023
1,296
-------
At 31 December 2022
1,619
-------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
29,393
3,749
17,618
50,760
Additions
2,957
730
3,687
---------
-------
---------
---------
At 31 December 2023
32,350
4,479
17,618
54,447
---------
-------
---------
---------
Depreciation
At 1 January 2023
16,969
3,631
4,405
25,005
Charge for the year
3,848
213
3,303
7,364
---------
-------
---------
---------
At 31 December 2023
20,817
3,844
7,708
32,369
---------
-------
---------
---------
Carrying amount
At 31 December 2023
11,533
635
9,910
22,078
---------
-------
---------
---------
At 31 December 2022
12,424
118
13,213
25,755
---------
-------
---------
---------
7. Debtors
2023
2022
£
£
Trade debtors
417,040
399,062
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,250
Other debtors
96,943
61,026
----------
----------
515,233
460,088
----------
----------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
82,297
104,894
Corporation tax
97,393
157,593
Social security and other taxes
30,357
95,823
Other creditors
682,560
308,226
----------
----------
892,607
666,536
----------
----------
Other creditors includes a loan from related companies of £9,816 (2022 - £14,178).
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
25,000
25,000
---------
---------
10. Related party transactions
The company was under the control of S M Davison throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.